Trading Online Vouchers
The Trading Online Vouchers Scheme
The Trading Online Voucher Scheme is an Irish government initiative whose main aim is to get more small businesses trading online as eCommerce businesses.
At present, according to figures from Enterprise Ireland, just 23% of Irish businesses have eCommerce functionality built into their websites thus allowing future scope for growth
The Irish government have put initiatives in place encouraging a greater take-up of the funding they have available for eCommerce
The figures for the Trading Online Voucher (TOV) scheme so far read as follows:
Since May 2020 local enterprise offices around the country have received 3,000 applications for the TOV scheme. Of these 1,250 have been fully approved. (bizplus.ie)
Prior to the Covid-19 pandemic there was already a shift towards companies adopting the eCommerce sales model.
This could be seen in the way customers expectations had changed: customers wanted the ability to be able to choose from a wide range of products at a time of their own choosing.
The eCommerce business model provides a wide range of choice allowing an online shop front to be open 24/7, 365 days of the year.
Then when COVID struck online selling offered another unique selling point: the ability to be able shop without the fear of contracting infection from others.
- The eligibility for the scheme takes into account the following factors:
- Have a minimal online trading capacity
- Employ up to 10 people or less
- Have a turnover of less than €10 million
- Businesses must be trading for at least 6 months
- Your business must be located within the area of the LEO you apply to for the funding
- For example if you are based in Dublin then you must apply to Dublin LEO
- You must first attend a Trading Online Voucher seminar organised by one of the Local Enterprise offices.
- Businesses who have applied before can apply again if your website requires an upgrade
Be sure to scope out your project before presenting it to the LEO. There may be design and functionality questions you haven’t thought of that may be important in getting approval for the money
Remember at the designpool we are here to help.
Contact us before applying for the scheme as we have extensive experience in the area of eCommerce web design for small business and will be able to help you with any questions you may have.
The scheme has been very effective. Take a look at the video below.
How the scheme works
With the Trading Online Voucher scheme (TOV), the Government offers support of up to €2,500.00 for 50/50 funding to get your business trading online.
So for example the government will match 50% of your costs up to a maximum value of €2,500.00.
This means if you spend €4000 to get your business trading online you will get €2000 back.
If were to spend €5000 or above, you will receive a maximum of €2500.
You must first get approval for the scheme before incurring any expenses
Other factors to take into account:
- It is not just product based business that are eligible for the scheme. For example if you offer services like a solicitor or accountant does, you can also take part by by adding online payments to your services.
- You need to pay all your suppliers before you can draw down the voucher money.
- Only Third party costs only will be allowed.
- Your third party supplier’s paperwork such as invoices must contain their official business details (e.g. Tax and Business Registration numbers).
Where can you get access to the Application Form?
To download the application form you must first attend one of the online seminars
We are here to help you if you have any additional questions. There has never been a better time to start an eCommerce business particularly with all the financial support that is now available.
Call us on 01 230 3645 or fill out the contact form below and we will come straight back to you.
Trading Online Voucher: Request a Quote from thedesignpool.ie
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