Online Retail Scheme 2023 – Funding by Enterprise Ireland

As a digital agency that specialises in web development, design, branding, and content creation, Viral Media knows how critical it is for businesses to have a strong online presence. That’s why we’re excited to share the news about the latest call for applications for the Online Retail Scheme 2023, which is now open for Irish-based retail enterprises.

The Online Retail Scheme is a competitive fund administered by Enterprise Ireland on behalf of the Department of Enterprise Trade and Employment (DETE), with a total fund size of €3.4m. The purpose of the fund is to encourage Irish retailers with a pre-existing online presence to strengthen their digitalization efforts, respond to domestic and international consumer demand, and build a more resilient business both online and offline. Here are some essential details you need to know about the Online Retail Scheme 2023.

Call Open and Close Dates

The call for applications is open from April 4th, 2023, and will close on May 3rd, 2023, at 12.00 pm (noon) for online applications. Note that required accounts must be submitted no later than 5.30 pm on May 3rd, 2023.

Funding Support Successful applicants will be awarded funding to support up to 50% of the project eligible costs of €50,000, with a maximum grant of €25,000. The typical elements involved in developing a sophisticated and transactional online presence and strategy include research, consultancy costs for strategy development, implementation, and in-house training.

Eligibility Criteria To be eligible for the Online Retail Scheme 2023:

• Be an Irish-based retail enterprise that has ten or more full-time employees
• Have an existing online presence (e.g., website or social media)
• Have a physical retail store and derive the majority of company revenue from retailing products directly to individual consumers
• Employ at least ten employees in the Republic of Ireland on a full-time equivalent basis in the latest accounting period or has grown to this level since that date
• Have the potential to sustain or create jobs, generate growth in online transactions, and with an ambition to internationalize their business in the future

The following businesses are not eligible for the scheme:

• Companies that do not meet all of the above criteria
• Companies that are currently clients of Enterprise Ireland and are eligible for other funding assistance from Enterprise Ireland
• Projects that do not propose significant additional functionality to the online presence of the applicant company will be considered ineligible
• Companies where the principal business activity is the provision of a service rather than retail of products
• Companies where the principal business activity is the provision of financial services and products (e.g., mortgage, insurance brokers, etc.)
• Car and vehicle dealerships
• Companies where the principal business activity is the wholesale or re-sale of goods to other businesses or construction trade professionals
• Companies that are primarily marketing or buying groups acting on behalf of retail stores
• Franchisees of retailers for whom the franchisor provides material online assistance.

Why Apply for the Online Retail Scheme 2023?

By applying for the Online Retail Scheme 2023, you can:

• Strengthen your digitalization efforts and respond to domestic and international consumer demand
• Build a more resilient business both online and offline
• Protect your physical operation by enabling growth through an online marketplace and new shopping avenues
• Support capability building for digital skills
• Create new roles within the business in e-commerce and supporting activities
• Be awarded funding to support up to 50% of the project eligible costs of €50,000, with a maximum grant of €25

More Info here! If you are looking to grow your eCommerce business and need expert support please feel free to reach out: [email protected].