Library of Knowledge

Library of Knowledge No. 5

Across the country SME’s will be promoting their businesses through their Local Enterprise Office (L.E.O) in Local Enterprise Week #MakingItHappen.

To assist your business your local L.E.O will be hosting events to promote businesses in your area during week, Monday 2^nd March 2020 to Friday 6^th March 2020.

You can also benefit from the L.E.O’s for financial support, training programmes, advice and mentoring to name but a few.

See Link: https://www.localenterprise.ie/week?gclid=EAIaIQobChMI0pf-7IDj5wIVl4XVCh2LxwOpEAAYASAAEgIPEvD_BwE

Library of Knowledge No. 4

New minimum wage rates came into effect from 1^st February 2020.

These rates differ slightly from the 2019 rates and are purely age based and make no reference to the No. of years experience.

See Links: https://www.gov.ie/en/publication/41a981-the-minimum-wage-in-ireland/ https://www.citizensinformation.ie/en/employment/employment_rights_and_conditions/pay_and_employment/pay_inc_min_wage.html

Please check the following:

That all employees are being paid  their minimum wage.

That your labour costs and charges are reviewed based on any increases in wages..

Note: These rates do not apply to sectors covered by Employment Regulation Orders.

Library of Knowledge No. 2

The Strategic Banking Corporation of Ireland (SBCI) are managing EU supported funding for SME’s & Farmers. These funds are largely unsecured and interest rates are low, between 3.5% and 4.5%.

There are 3 schemes, each of which has separate criteria:

• Future Growth Loan Scheme
• Brexit Loan Scheme
• SME Credit Guarantee
  Unsecured up to €500,000

Applications are initially submitted via SBCI.

Once approved contact your selected bank for progression. BOI, AIB, KBC, and Ulster Bank are the banks linked to these schemes.

Note: BOI and AIB have seen huge demand and availability is now quite limited.

However, Ulster Bank (SME’s and Farmers) and KBC (SME’s only) have availability.

See Link https://sbci.gov.ie/