If you’re ready to start growing your small business, you can either create a new website or improve your current website. A grant of up to €2,500 in financial assistance, for you to invest in helping your business trade online is provided by your local enterprise office (LEO).
I’ll explain everything you need to know about the application process for small businesses in this guide. I will give a description of the terms and conditions for the scheme, who can apply, the approval process, and what you can do to grow your business with your grant money.
Companies can use the voucher to subscribe to low cost online retail platform solutions to quickly establish a retailing presence online.
It is possible to make the process of trading online much simpler by participating in this scheme.
Where Can I Download the Application Form?
If you meet eligibility criteria, the Trading Online Voucher Application Form will be sent to you after the seminar.
What is the Trading Online Voucher (TOV) Scheme?
The National Digital Strategy funding initiative is called the TOV. The strategy is to get more small businesses to sell their products and services online because online sales account for an ever-increasing percentage of sales. You can use the grant to improve your online sales, manage online trading activityreach new markets.
You can get funding for up to €2,500 of eligible expenditure, if you invest 50% of your investment in improving your online presence. It is necessary for your business to fund 10% of the investment in order to be eligible. Your business would pay €2,500 and the local enterprise office would pay €2,500 if you hire an ecommerce agency to develop a new website for you for €5,000. If you are starting a small project at 1000, your business would have to pay €100 and the local office would have to pay €900.
How Can The TOV Help My Business?
The department of communications climate action and environment in Ireland pays for this scheme. The aim of the scheme is to establish a retailing presence online and give training to your local enterprise office.
In order to succeed in your business, you need to make informed decisions. You can decide what is best for your business with the free help and training provided by your local enterprise office in the delivery of this scheme.
Digital marketing, social media for business, and search engine optimisation are some of the topics covered in the training sessions. The information provided is totally impartial and will help you in deciding on which of the trading online options suits your business needs best.
The TOV scheme can have added export potential, job creation potential and in general make your business more sustainable.
What are the Terms and Conditions of the TOV Scheme?
You should know the terms and conditions of the voucher scheme. 50% of the eligible expense (exclusive of VAT) is the maximum value for the vouchers. Before you pay any developer or agency, you have to get your TOV approved.
Who is Ineligible for the Trading Online Voucher Scheme?
Some businesses aren’t eligible for the trading online voucher scheme.
- Commercial semi-state companies, trade associations, or company representative bodies can be Charities, commercial semi-state companies, trade associations, or company representation bodies can be Chambers of Commerce.
- Not-for-profit or social entrepreneurship applicants that are in a commercial domain.
- Information technology companies or agencies.
- Conferences and seminars on various topics.
- Projects are not in compliance with public policy.
- Some projects would be ineligible for assistance from other State Agencies of EU-funded operational programmes.
- Companies with more than 10 employees.
- Projects can proceed in any event without scheme assistance.
- Importation and distribution are some of the projects that comprise them.
- LEO cannot accept applications from businesses located outside their jurisdiction.
Who is Eligible for the TOVD Scheme?
The Trading Online Voucher Scheme is for businesses that meet certain criteria.
- Businesses with a website with no ecommerce function or website at all.
- There are less than eleven employees.
- The turnover is less than 2 million per year.
- It is necessary that the applicant business be trading for at least six months.
The Trading Online Voucher Scheme is open to all small businesses in the Republic of Ireland that have been trading for at least six months with 10 or fewer employees.
Why Apply for the TOV Scheme?
Consumers in Ireland spend an average of almost every hour online. Ireland’s ecommerce industry is worth a whopping 2.8 billion and is growing. You are missing out on a huge additional revenue stream if your business does not have a strong online presence. There was a 30% increase in the number of.ie domain registration in the second quarter of 2020. Your competitors might be taking your customers if you don’t have a strong online presence.
The trading online voucher scheme can be used to invest in Irish businesses online presence and grow their online sales. As of May 2020, 1,250 applications have already been approved so you will be joining many other small businesses in doubling down on your online presence. The average grant is 2,300, which can be used to start and grow your business.
A survey of 800 local businesses that received the Trading Online Voucher found that:
- Customers outside of Ireland placed online orders for more than half of the businesses.
- Over 20% of total sales grew.
- 9 in 10 businesses got more customer inquiries.
- 75% of businesses said that the increased sales were from new customers and had no adverse effects on existing sales.
- Businesses were looking to hire new employees in order to keep up with the growing demand, with an average of 1.4 more employees being recruited.
- The vast majority of businesses believe that their online sales will increase in the next six months.
What Can I Use the TOV for?
One or more of the following can be done with the Trading Online Voucher.
- Digital strategy consultation, IT or digital marketing.
- An upgrade or development of an online shop or E-Commerce web design.
- There is an implementation of online payment facilities or booking systems.
- Buying online retail platform solutions and subscriptions to internet-related software.(Purchase of Internet related software)
- Up to 30% of the approved voucher costs can be used to purchase online advertising but must be drawn down in one payment phase..
- The development of an app or multi-platform website.
- Digital marketing strategy development.
- Implementing a marketing plan.
- Skills development is meant to establish and manage online trading activities.
What Can I Not Use the TOV for?
The Trading Online Voucher cannot be used for these purposes.
- A website for displaying a brochure.
- Something other than online trading (not internet-related).
When does the Trading Online Voucher expire?
According to the Local Enterprise Office (LEO), there is no expiry date for the Trading Online Voucher Scheme. However, the scheme can be stopped at any time, but we recommend that you apply as soon as possible to make sure your application is accepted before the scheme is stopped.
How do I Sign Up for the TOV Information Webinar?
The website of your local enterprise office can be used to sign up for the event. You can see a list of links to your LEO. Follow the steps on the website to register for the seminar.
Click on ‘Training and Events’
Click on the webinar you want to attend (Trading Online Voucher Webinar)
Click ‘Book Now’
You’ll receive an email with instructions on how to attend the webinars after you register.
What Additional Documents Must I Send With My Application?
The following documents need to be submitted with the completed application form.
- A quotation from three different companies.
- Proof of the duration of trading.
If you can’t provide the three quotes, you might be able to get a waiver for this requirement.
For example, if there are multiple project components and you can’t provide three quotes, you might not have to.
The quotes available will be used for the evaluation of the application. Before applying if this is your case, you should consult with LEO.
The full terms to consider are: Voucher approval must be gained prior to incurring any expense.
All third party/supplier invoices must contain proper business details (e.g. Tax and Business Registration details)
Can I Apply for a Second Voucher?
Previous voucher recipients can apply for a second voucher if they want to upgrade your online presence.
How long will it take to get approved?
Once you’ve submitted your application, you can expect a decision from LEO in about a month. You’ll get a letter of offer if your application is approved. The letter can be forwarded to your supplier of choice.
How will I receive payment of the voucher?
The following documents are needed to get payment of your TOV.
- A signed declaration from you and the supplier you choose.
- Your Company Registration Number (CRO).
- Tax Clearance Certificate.
- There is an invoice for the supplier with tax registration or VAT details.
- There is evidence that the invoice was paid in the bank statement.
- A declaration of the project’s completion is given by the supplier.
How long will I have to spend my voucher?
After receiving the letter of offer, you will have three months to complete the work you specified in your application form. If you need more than three months, we recommend you speak to your LEO, who may grant you an extension.
What Pixelweb Design Can Provide
Whether you want to increase your online presence or create it, we have a wide variety of services for you to choose from. Our goal is to provide online retail platform solutions.
Our Web Design service can create a custom website for you. Your potential customers will be able to easily interact with your site with our modern and responsive web designs.
We have a wide range of digital marketing services which include social media management, developing a digital strategy, pay per click advertising and search engine optimisation. To highlight your business online and to ensure that your target market easily finds your site, each of these services is used.
Several businesses have been helped grow their online presence through the development and execution of digital marketing strategies.
The wide variety of services that we provide can be viewed on our services pages. If you want to find the best social media marketing plan for your business, please get in contact with us.
If you want to use the Government’s National Digital Strategy to grow your business online, you need to apply for a trading online voucher before the deadline.
Do you need a quote?