Is my business eligible?
To be eligible a business must be a viable micro, small and medium sized enterprise (SME) or mid-cap enterprise that meets the eligibility criteria.
An SME is defined by the Standard EU definition [Commission Regulation 2003/361/EC] as an enterprise that:
1 Has fewer than 250 employees
2 Has a turnover of €50 million or less (or €43 million or less on their balance sheet)
3 Is independent and autonomous i.e. not part of a wider group of enterprises
4 Has less than 25% of their capital held by public bodies
5 Is established and operating in the Republic of Ireland
A small mid-cap is an enterprise that is not an SME but has fewer than 500 employees.
SME or small mid-cap cannot apply if they are:
- In financial difficulty
- Bankrupt or being wound up or having their affairs administered by the courts OR
- In the last five years have entered into an arrangement with creditors, in the context of being bankrupt or wound-up or having its affairs administered by the courts