Feasibility Grants - What to Prepare

This section should briefly outline the main objectives behind your proposal / project.

2. MANAGEMENT / PROMOTERS BACKGROUND

Here you should give details of your own background, education, qualifications, courses attended, which may be applicable to the proposal and that of any other personnel associated with the project.

Also include any practical work experience you have obtained. If you propose employing other personnel please outline their roles, education, requirements, work experience i.e. management structure and responsibilities.

3. DESCRIPTION OF PRODUCT / SERVICE / PRODUCTION PROCESS

Outline in detail your proposal and include reference to the production process (if it is manufacturing), any design requirements necessary and in relation to services, the type of expertise that would be needed for the business. A reader of this section should be able to get a broad understanding of the overall venture without too much technical detail.

Machinery & Equipment: Brief details in connection with the type of equipment required, from whom it might be supplied and an approximation of the costs.

Raw Materials: Description, availability and suppliers.

Proposed Premises: Location, size/suitability, services and costs. While it may be difficult at this stage of a project to identify a specific location, at least some ideas should be supplied regarding the general locality and in particular the type of premises that might be required - central location in city etc. If you propose to operate from home this should be stated and if expenditure will be incurred in relation in redesign of garage etc., details should be supplied.

4. MARKETING DETAILS

This is probably the most critical of all the sections and to a large extent will determine the commercial viability of the proposal. This section should be ideally supported by market research / surveys, where possible.

This section should describe the particular market and your proposed marketing plan. Market details required would include the type of market, its particular characteristics, structure, segments etc. Market size in terms of both sales volume and sales value - also whether home or export. Competitors and their market share.

The Marketing Plan should cover the following:

• Projected sales / market share
• Product design, packaging,
• Pricing details, terms of sale, discount structure etc.
• Distribution methods
• Selling methods
• Customer structure i.e. number and location
• Sales promotion / advertising plans

5. TURNOVER / FINANCIAL PROJECTIONS

It is important that detailed consideration would be given to the area of turnover. In particular, it is necessary to consider the likely level of sales over the period of the financial projections (normally on a monthly basis over the succeeding year). A detailed cash flow statement should then be prepared for at least the following year (month by month).

Give estimated costs of all requirements:

• Buildings
• Equipment / machinery - specify main items and include carriage and installation costs
• Fixtures and fittings
• Office equipment
• Motor vehicles
• Working capital - finance required for the day-to-day running of your business
  i.e. stock, debtor's etc.

6. PROFITABILITY

This section should include a Trading, Profit & Loss and Balance Sheet for 3 years.

• Sales revenue
• Cost of sales
• Selling, general administration and financial expenses

Detailed costings should also be provided to support your plans - professional advice may be needed in this.

Who Qualifies?

To be eligible for assistance projects must satisfy the following criteria:

• Projects must be in the commercial sphere
• They must be capable of attaining economic viability, without ongoing support or subsidy
• There must be a definite market demonstrated for the proposed product/service
• Adequate overall finance must be available to fund the project
• The promoters involved must have the requisite management and technical capacity to implement its successful development
• Grant aided projects must have the capacity to create new direct employment commensurate with the level of grant support being sought, or should as a minimum contribute directly to the maintenance of employment in existing small enterprise
• Projects assisted should not directly interfere or compete with any similar business already in existence in the area, which may lead to job displacement
• Project promoters must satisfy existing policies on tax clearance and related matters
• Grant assistance will neither be in addition nor in place of grant aid already available from an existing state agency
• Grant aid will not be provided to a project where the proposal is at variance with National or EU policies
• Grant aid cannot be provided retrospectively
• Projects assisted must be relatively small in scale
• The Board may assist projects which fit into the Boards City Enterprise Plan, including, the manufacturing and internationally traded services area, companies with an employment potential of up to ten persons, but excluding firms which already have a relationship with IDA or Enterprise Ireland
• Locally provided service projects must satisfy the Boards criteria for this sector

Promoters should be able to demonstrate that

• There is a market for the proposed product or service to be produced.
• Adequate overall finance will be available to fund the project.
• They possess the management and technical capacity to implement the proposed project.

The Fund may not be used to support projects, which are contrary to public policy, nor may it be used to duplicate support for projects which would be eligible for assistance from any existing sectoral or other grant structure.