Ireland announces new €5 million COVID-19 Online Retail Scheme

The Scheme will be administered by Enterprise Ireland and is targeted at Irish-based retailers with a physical store and a pre-existing online presence.  The grant can be used to fund fees for service providers to develop and implement a digital strategy supported by in-house training, and to enhance the retailer’s website and related systems, an official statement said.

Outlining the importance of the Scheme, English said, "Over the last year, survival for many Irish retailers has been dependent on having an online presence. It continues to be a top priority for retailers to evolve these channels and take advantage of the new and existing local, national and international opportunities that exist through selling online. As minister, I am determined to support the ambition to expand beyond the physical shop and this Scheme offers retailers the vital financial support to do just that. It is important for the future of retail here that in-store shopping is complemented by an improved online offering so that innovative local businesses can secure a greater share of the overall online retail spend by Irish consumers.” 

The Scheme aims to continue to address the urgent need for retail companies to achieve a step change in online capability to achieve business continuity, and to lay foundations for future recovery and growth. To date, some 370 companies have received funding under the Online Retail Scheme to the value of €12.8 million. (There have been two previous calls under the COVID-19 Online Retail Scheme.)

"The COVID-19 Online Retail Scheme is boosting retail businesses throughout Ireland with more than two-thirds of grants going to companies outside Dublin. Irish retailers are keenly aware of the opportunities that exist in the online space with many specifically targeting the Eurozone post-Brexit and taking advantage of the potential that lies in a global customer base," Stephen Creaner, executive director, Enterprise Ireland, said.

The COVID-19 Online Retail Scheme is open to eligible Irish-owned retail enterprises that had 10 or more employees on or before February 29, 2020 (or have grown to this level since then) and have the potential to sustain or create jobs, generate growth in online transactions and with an ambition to internationalise their business in the future.

Fibre2Fashion News Desk (RKS)