A new advisory service to tell small firms what grants they are entitled to is to be offered jointly by the Small Firms Association and IBEC.
Less than half of small Irish-based firms know what funding sources are available to them and it is hoped that the new service will improve awareness and cut bureaucracy.
The initiative was announced at an EU Grants Seminar held Dublin today. Delegates were told that there are currently 300 funding sources to support growth and innovation.
However, despite the availability of these funds, only 45 per cent of SMEs are aware that they are entitled to grant aid and less than 4 per cent actually apply.
EUGA is to support SMEs in accessing over 100 separate EU and Irish start up and business development funding schemes, ensuring increased awareness of, and access to, business capital.
An internet site will allow allows a business to quickly find and sort through local, regional, national and international grants it may be eligible for.