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Archive for January, 2018

GDPR

Friday, January 26th, 2018

With three quarters of Irish businesses not ready for the imminent introduction of the European General Data Protection Regulation (GDPR), now is the time to future proof your business.

The new rules, due to take effect on May 25 of this year, come with potential fines of up to €20m, or 4pc of turnover, whichever is the largest amount, for serious infringements.

The results of a recent survey showed that Irish businesses show “serious levels of difficulty for Irish businesses in complying” with the new regulation. Some 95pc of businesses say that meeting the compliance requirements of the GDPR will be “challenging or extremely challenging”, an increase on sentiment last year.


Competitive Start Fund (CSF) to allocate up to €50,000

Friday, January 12th, 2018

Small businesses are being urged to pitch for up to €50,000 in grant aid from Enterprise Ireland in a new funding round.

The state agency’s first Competitive Start Fund (CSF) of the year will allocate up to €50,000 to 15 successful applicants in exchange for a 10pc equity share in the firm getting the taxpayer cash. The grant is aimed at startups that are deemed to have the potential of employing more than 10 people and seeing €1m in export sales within three years.

Those firms that succeed in getting the €50,000 investment will also get access to state-sponsored development programmes.Costs such as salaries, travel and consultancy fees are deemed to acceptable criteria for the grant application.

“The fund is designed to enable those companies reach key commercial and technical milestones, including evaluating overseas market opportunities, building prototypes, developing market entry plans and securing third party investment,” said an Enterprise Ireland spokesman.

The fund opens for applications on Tuesday, January 23, and closes at 3pm on Tuesday, February 6th.

Enterprise Ireland says it’s particularly interested in getting applications from individuals, early stage companies or prospective businesses in manufacturing internationally traded services, “particularly within ICT”.

It says it is expecting hopeful entries in the areas of internet, games, apps, mobile, cloud computing, life sciences, cleantech, enterprise softwre and software-as-a-service (Saas).