Niall Collins (Limerick County, Fianna Fail)
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238. To ask the Minister for Enterprise, Trade and Employment if there is any assistance or funding available for a start-up company (details supplied); and if he will make a statement on the matter. [23900/23]

Neale Richmond (Dublin Rathdown, Fine Gael)
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The Local Enterprise Offices (LEOs) are a ‘first stop shop’ for providing advice and guidance, and act as a signposting service for all government supports available to anyone looking to start or grow their own business. As such, I would recommend that this individual contact their Local Enterprise Office to inquire about what supports would be available to them. The LEOs are located within each of the 31 Local Authority areas and their contact details can be found through www.localenterprise.ie.

I strongly recommend that any entrepreneur starting up their own business participate in the LEO Start Your Own Business Programme which can guide new business owners through the various aspects of business and business planning. The objective is to assist them in assessing their business idea, determining its viability and deciding if they should proceed or take a step back.

The LEOs can provide grant assistance to entrepreneurs and small businesses, operating in the manufacturing and internationally traded services sectors, subject to eligibility criteria. However, it should be noted that LEOs cannot provide direct grant-aid to areas such as retail, personal services, local professional services, construction/local building services, as it may give rise to the displacement of existing businesses in the locality.

Microfinance Ireland also provides vital support to micro-enterprises by filling the lending gap in the market by lending to business that cannot obtain loans from other commercial lenders. It provides loans of €2,000 up to €25,000 to businesses that do not meet the conventional risk criteria applied by commercial lenders and applies interest rate charges for its lending which are not reflective of its credit risk, typically between 4.5% for clients of Local Enterprise Offices and other partners to 5.5% for direct applications.