Over 6,500 Irish SMEs helped by National Enterprise Hub in first year
The National Enterprise Hub is an initiative of the Department of Enterprise, Tourism and Employment and Enterprise Ireland and brings together information and resources on over 250 Government supports from 30 different departments and state agencies.
It said the top grants availed of by businesses ranged in value from €3,000 to €7,000 and focused on supporting businesses with cashflow, expansion and productivity to help them deal with concerns around rising costs, and competitiveness.
It has attracted over 220,000 active online users to its website over the last 12 months, while it also offers a full-time dedicated phone line, connecting business owners with specialist advisors who can discuss potential grant options over the phone.
The businesses are from a range of industries with the majority operating in the Tourism & Hospitality sector, retail & consumer products, food, health & beauty, professional services and the construction sector.
Minister for Enterprise, Tourism and Employment Peter Burke said the National Enterprise Hub has proven effective in streamlining and simplifying access for SMEs to government supports, equipping them with vital digital and sustainability resources to navigate rising costs and stay competitive.
"My focus now with the NEH is on reducing administrative burdens and red tape for businesses by consolidating multiple grant applications into a single, simplified process," the Minister said.
"We must redouble our efforts to simplify processes for businesses and make sure that we think about small businesses first," he added.
Conor O'Donovan, Head of Start-Ups and the National Enterprise Hub, said that SME engagement with the National Enterprise Hub has met and exceeded targets to date, supporting 6,500 businesses within its first year of operation.
"One of the main aims of the Hub was to engage with businesses who haven't availed of government supports to date and to make the process of availing of government supports faster and easier," he said.
"We know that Irish SMEs are operating in a complex environment and being able to access grants and supports is more important than ever," Mr O'Donovan said.
"Small businesses who are engaging with the National Enterprise Hub are concerned about rising cost of business and competitiveness - that is why a single source of government supports for businesses is important to ensure that accessing the right information is made easier," he added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Journal
40 minutes ago
- The Journal
Concern as number of unemployed young people jumped by a percentage point in just one month
A SPIKE IN unemployment among young people – with roughly one in eight who are eligible to work not working – should not be ignored, experts have said. Data from the Central Statistics Office (CSO) published yesterday found that 12.2% of people aged between 15 and 24 years old who are eligible to work are currently unemployed . 'Consistently having in or around 40,000 young people without work in a booming economy cannot and should not be ignored by policymakers and wider society,' Dr Laura Bambrick of the Irish Congress of Trade Unions told The Journal. The figure excludes the vast majority of people in that age group, who are still in full-time education or training. However, it jumped by almost one percentage point in the space of a month, sparking concern about business confidence in the current climate. One expert said that the spike in youth unemployment could suggest that business confidence is 'softening' in the face of US tariffs and general global uncertainty. Another expert said forthcoming reports will provide a clearer picture of the Irish job market. Chief economist at Grant Thornton Andrew Webb said firms are being more cautious right now, which could create an environment where firms are less likely to fill junior roles. 'Policymakers should take this signal seriously,' he said. 'If ignored, today's flicker could become a more persistent fault.' Advertisement Dr Laura Bambrick of ICTU echoed Webb's comments that policymakers need to pay attention to the figure. However, she noted that common reasons given for high unemployment rates – including the cost of minimum wage or 'generous' welfare payments – ignores key facts, including that youth unemployment in Ireland remains the lowest rate in the EU. A different CSO report today shows those under 24 years old make up one of the smallest cohorts of people registered for the jobseekers' allowance , or equivalent social welfare payments, second only to people aged between 55 and 59. Bambrick also highlighted that the vast majority of people are still in education and that, as with all reports, yesterday's jobs data is still subject to revision. 'It is true that an uptick in youth unemployment can be the canary in the coal mine, signalling an economic downturn,' she said, noting that the CSO's Labour Force Survey, to be published soon, will give us a 'more accurate picture' of the Irish job market. Uncertainty remains over the Irish economy in the medium term, particularly for the future of tariffs on key sectors such as pharma and tech. The EU is adamant that a 15% cap on all tariffs had been agreed in the recent deal with the US, but Donald Trump has claimed that tariffs as high as 200% could be placed on targeted industries in the future. Despite pronouncements from Webb and business representatives, Irish firms may be screaming into the void when it comes to receiving support to combat higher costs associated with US tariffs. Under the government's current analysis, though some reports do not take tariffs into account, Ireland looks poised to boost its revenue and economic growth into the end of the year. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
RTÉ News
an hour ago
- RTÉ News
Revenues stretch at yoga brand retailer lululemon to €15.3m
Revenues at the Irish arm of high end athleisure brand, lululemon last year stretched higher rising by 20% to €15.3m. New accounts filed by Lululemon Athletica Ireland Ltd show that its pre-tax profits rose by 3% from €473,577 to €490,129 in the 12 months to the end of January this year on the back of the revenue surge. The directors for the yoga apparel seller - popularised by the likes of supermodel, Gisele Bundchen and Kendall Jenner - said that it is their intention to continue to develop the company and the board "is actively looking into new business opportunities". The revenues of €15.3m in the 12 months to the end of January this year follow revenues of €12.8m in the prior year. The store operates from four outlets here and opened its stand-alone flag-ship store on Dublin's Grafton Street in the final quarter of 2021. This followed the Canadian owned retailer signing a 10 year lease for 84 Grafton Street in a premises formerly occupied by retailer, Pamela Scott. The company has expanded here in recent years with lululemon athletica opening a concession outlet at Brown Thomas in Dundrum town centre on February 24th 2022 - prior to opening on 84 Grafton Street, lululemon operated a concession outlet at Brown Thomas on the same street. The brand - which counts fitness guru, Joe Wicks as a global ambassador - also operates a concession at Brown Thomas's Patrick Street store in Cork city. The expansion of the business here this year resulted in numbers employed increasing further but at a more modest rate in fiscal 2024 rising by five to 91. Staff costs increased from €2.95m to €3.15m. The firm's profits take account of non-cash depreciation costs of €227,734. Operating lease expenses remained at €376,054. A note attached to the accounts states that "marketing support payments are received from the group to offset any losses incurred by the company in marketing the lululemon brand in Ireland". The company - which commenced trading here in 2017 - recorded a post tax profit of €446,799 after incurring a corporation tax charge of €43,330. At the end of January last, shareholder funds totalled €2.2m made up of accumulated profits of €1.28m and capital contribution of €925,235. The company's cash funds increased from €1.77m to €1.85m. Globally, in the 12 months to the end of February 2nd 2025, lululemon athletica's revenues passed $10bn for the first time as it recorded revenues of $10.58bn.. The group recorded pre-tax profits of $2.57bn on the back of sales from its 767 stores and touchpoints along with online sales.
Irish Examiner
an hour ago
- Irish Examiner
Revenues stretch up to €15.3m at high-end yoga brand retailer lululemon
Revenues at the Irish arm of high-end athleisure brand, lululemon, last year stretched higher rising by 20% to €15.3m. New accounts filed by Lululemon Athletica Ireland Ltd show that its pre-tax profits rose by 3% from €473,577 to €490,129 for the 12 months to the end of January this year on the back of the revenue surge. The directors for the yoga apparel seller - popularised by the likes of supermodel, Gisele Bundchen and Kendall Jenner - state that it is their intention to continue to develop the company and the board 'is actively looking into new business opportunities for the company'. The revenues of €15.3m in the 12 months to the end of January this year follow revenues of €12.8m in the prior year. The store operates from four outlets here and opened its stand-alone flag-ship store on Dublin's Grafton Street in the final quarter of 2021. This followed the Canadian-owned retailer signing a 10-year lease for 84 Grafton Street in a premises formerly occupied by retailer, Pamela Scott. The company has expanded here in recent years with lululemon athletica opening a concession outlet at Brown Thomas in Dundrum town centre on February 24, 2022. Prior to opening on 84 Grafton Street, lululemon operated a concession outlet at Brown Thomas on the same street. The brand - which counts fitness guru, Joe Wicks as a global ambassador - also operates a concession at Brown Thomas's Patrick Street store in Cork City. The expansion of the business here this year resulted in numbers employed increasing further but at a more modest rate in fiscal 2024 rising by five to 91. Staff costs increased from €2.95m to €3.15m. The firm's profits take account of non-cash depreciation costs of €227,734. Operating lease expenses remained at €376,054. A note attached to the accounts states that "marketing support payments are received from the Group to offset any losses incurred by the Company in marketing the lululemon brand in Ireland". The company - which commenced trading here in 2017 - recorded a post-tax profit of €446,799 after incurring a corporation tax charge of €43,330. At the end of January last, shareholder funds totalled €2.2m made up of accumulated profits of €1.28m and capital contribution of €925,235. The company's cash funds increased from €1.77m to €1.85m. Globally, in the 12 months to the end of February 2, 2025, lululemon athletica's revenues passed $10bn for the first time as it recorded revenues of $10.58bn. The group recorded pre-tax profits of $2.57bn on the back of sales from its 767 stores and touchpoints along with online sales.
