Written answers
Wednesday, 19 December 2018
Department of Jobs, Enterprise and Innovation
Brexit Supports
Billy Kelleher (Cork North Central, Fianna Fail)
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288. To ask the Minister for Jobs, Enterprise and Innovation the number of applicants and participants in all Brexit schemes and supports provided by her Department or agencies under the remit of her Department; and the amount allocated and expended to each such scheme in each year since being established in tabular form. [53664/18]
Heather Humphreys (Cavan-Monaghan, Fine Gael)
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My Department and its agencies are providing extensive supports to ensure that businesses are prepared for Brexit. These supports aim to assist businesses in identifying key risk areas and the practical preparatory actions to be taken over the coming months.
The information is set out in the table below:
| Scheme | Uptake (as of 17 December 2018) | Allocation/Expenditure by year |
|---|---|---|
| Brexit Loan Scheme | 326 applications received, 287 approved by SBCI. Loans progressed to sanction at bank level to a value of €13.44 million | €23 million exchequer funding has been used to leverage a fund of up to €300 million: €14 million from DBEI and €9 million from the Department of Agriculture, Food and the Marine. This Exchequer funding was allocated to the SBCI at the end of 2017. |
| Enterprise Ireland (EI) Brexit Scorecard - online platform for Irish companies to self-assess their exposure to Brexit | 3,592 Brexit Scorecards have been completed, which includes 624 LEOs clients | 2017 Expenditure: €25,568 2018 Expenditure: €11,261 |
| EI Be Prepared Grant | 149 Be Prepared Grants have been approved | 2017 Expenditure: €10,000 2018 Expenditure: €178,921 |
| EI Market Discovery Fund - A support to EI clients to research new markets | 191 projects have been approved under this initiative | Market Discovery fund was launched in 2018 2018 Expenditure: €209,756 |
| EI Agile Innovation Fund - Gives rapid fast-track access to innovation funding | 37 Agile Innovation projects have been approved | Agile Innovation Fund was launched in 2018 2018 Expenditure: €355,245 |
| EI Brexit Advisory Clinics | 11 events been run with approx. 915 in attendance | 2017 Expenditure: €55,797 2018 Expenditure: €160,853 |
| EI Brexit ‘Act On Programme’ – A support funding the engagement of a consultant to devise report with recommendations to help clients address weaknesses and improve resilience | 130 ‘Act on’ Plans have been completed | 2018 Expenditure: €259,000 |
| EI Strategic Consultancy Grant – A grant to assist EI clients to hire a strategic consultant for a set period | 1,047 Strategic Consultancy Grants have been approved | 2016 Expenditure: €278,137 2017 Expenditure: €482,617 2018 Expenditure: €456,198 |
| Local Enterprise Office (LEO) Mentoring | 402 mentoring participants solely focused on Brexit | Not available |
| LEO Technical Assistance Grant for Micro Export - an incentive for LEO clients to explore and develop new market opportunities | 376 clients have been approved assistance so far in 2018 under the Technical Assistance Grant | 2017 Allocation: €785,000 2017 Expenditure: €188,829 2018 Allocation: €800,000 2018 Expenditure: €365,774 up to 30/09/18 |
| LEO LEAN4Micro – The Lean4Micro offer was developed in collaboration between the EI Lean department and the LEOs to tailor the EI Lean offer for LEO micro enterprise clients | 211 LEO clients have participated in the programme | 2017 Allocation: €882,500 2017 Expenditure: €529,922 2018 Allocation: €852,620 2018 Expenditure: €518,411 up to 30/09/18 |
| LEO Brexit Seminars/Events | 3,996 participants at the Brexit Information events | 2017 Allocation: €153,500 2017 Expenditure: €85,509 2018 Allocation: €177,800 2018 Expenditure: €57,855 up to 30/09/18 |
| InterTradeIreland Brexit Advisory Service | 4,175 SMEs have directly engaged with the Brexit Advisory Service | 2017 Expenditure: €342,000 2018 Expenditure €918,586 up to 17/12/2018 |
| InterTradeIreland (ITI) Brexit Start to Plan Vouchers | There have been 645 applications, with 549 approved and 25 pending. | 2017 Expenditure: €7,409 2018 Expenditure: €415,183 |
| Pilot Online Retail Scheme administered by Enterprise Ireland | Total fund of € 1.25 million. The first call opened on 24 October. This call closed on 5 December at 3pm. | Not available |
Billy Kelleher (Cork North Central, Fianna Fail)
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289. To ask the Minister for Jobs, Enterprise and Innovation the latest figures regarding the Brexit SME loan scheme launched in March 2018 for items (details supplied). [53665/18]
Heather Humphreys (Cavan-Monaghan, Fine Gael)
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The Brexit Loan Scheme provides affordable working capital to eligible businesses with up to 499 employees that are or will be Brexit impacted and which meet the scheme criteria. The €23 million exchequer funding announced in the 2018 Budget (€14 million from my Department and €9 million from the Department of Agriculture, Food and the Marine) has been leveraged to provide a fund of up to €300 million over the lifetime of the scheme.
The scheme features a two-stage application process. First, businesses must apply to the Strategic Banking Corporation of Ireland (SBCI) to confirm their eligibility for the scheme. Businesses can use guidelines provided on the SBCI website to determine if they are eligible, and if so, to complete the eligibility form. As part of the process, businesses must submit a business plan, demonstrating the means by which they intend to innovate, change or adapt to meet their Brexit challenges. The SBCI assesses the applications and successful applicants receive an eligibility reference number.
Successful applicants can then apply for a loan under the scheme with one of the participating finance providers using their eligibility reference number. Participating finance providers are the Bank of Ireland, Ulster Bank and Allied Irish Bank. Approval of loans is subject to the finance providers' own credit policies and procedures.
The figures in the table below are those as to 10th December 2018. The Department will receive a report each quarter from the SBCI on the uptake of the scheme. A number of requested figures have not been included in this table as they pertain to the relationship between banks and their client SMEs and so are beyond the remit of these reports. Some questions requested the same information and have, therefore, been answered once.
Requested Details (as at 10 December 2018) | |
|---|---|
| Number of businesses which have applied to the SBCI to confirm eligibility for the scheme | 326 |
| Number of businesses which have had their applications assessed by SBCI | 287 |
| Number of businesses which have not had their applications assessed by SBCI | 33 |
| Number of businesses which have had a successful application and received an eligibility reference number | 287 |
| Number of businesses which had a successful application and received no eligibility reference number | N/A |
| The number of businesses who did not have a successful application and received no eligibility reference number | 6 |
| List of current finance providers | Bank of Ireland, Ulster Bank and AIB |
| Number of SMEs which have progressed to sanction at finance provider level | 58 |
| Total value of loans progressed to sanction at finance provider level | €13.44m |
| Current interest rate for those in receipt of approved loans | Maximum interest rate under the scheme is 4% |
Billy Kelleher (Cork North Central, Fianna Fail)
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290. To ask the Minister for Jobs, Enterprise and Innovation the number of SMEs that have received loan funding from an approved bank or financial institution after receiving final sanction approval under the Brexit SME loan scheme launched in March 2018. [53666/18]
Heather Humphreys (Cavan-Monaghan, Fine Gael)
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The Brexit Loan Scheme was launched on the 28 March this year. I am pleased to say there has been a steady stream of applications so far.
The SBCI have received 326 applications under the Brexit Loan Scheme up to 10 December 2018. 287 of those applications have been deemed eligible for a loan under the scheme, and of those, 58 have progressed to sanction at finance provider level to a total value of €13.44 million.
It is important to remember that this scheme is not a loan for businesses to carry on as usual. We are asking businesses to carefully consider what they need to do to successfully address their Brexit challenge through innovating, changing or adapting their business model in some capacity. These responses may include strengthening their product offerings, developing new markets to diversify their trade footprint, changing their organisational structure or developing new capabilities.
As part of the process, businesses are requested to complete a business plan displaying how they are going to innovate, change or adapt. There are guidelines available on what is needed in the business plan on the SBCI website.
Additionally, SMEs can use the InterTrade Ireland Brexit voucher of €2,250 to assist them with the completion of the Brexit Loan Scheme application.
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