The Business Financial Planning Grant is a new support by EI designed to aid eligible companies to fund the appointment of an Approved Financial Consultant to develop a robust business and financial plan with forecasts and assumptions. The plan will position the business to access the different funding options available to them during the current pandemic.
The grant is available to fund 100% of related consultant expenses up to a maximum total value of €5,000 (ex. VAT). Companies eligible for the grant include:
- Existing EI & IDA clients
- Údarás na Gaeltachta clients
- Non-EI clients in manufacturing/ internationally traded services with 10+ employees
All businesses must have been viable as at 31 December 2019 and must be materially impacted by Covid-19 outbreak (>15% decrease in turnover or profits).
As part of the Business Financial Planning Grant, Grant Thornton can support your business with the following services:
- Financial Projections – detailed 3 year financial projections outlining expected growth post Covid 19,
- Financial Data Sheet – complete financial data sheets incorporating balance sheet and P&L projections based on expected growth,
- Finance Appraisal – review of current funding levels as well as highlighting any potential funding gaps,
- Cashflow Projections – weekly cashflow projections in order to aid in cashflow management,
- Actions – identify actions to be taken to mitigate key risks and integrate impact of same into the detailed financial projections,
- Recommendations – Outline specific recommendations that seek to support, restore and navigate your business through this crisis.