WEALTH November 2, 2025 0 Comments

Unlock the Hidden Goldmine: Why the Grueling Grant Application Could Be Your Smartest Business Move Yet

So, you’re staring down the barrel of your first grant application with your Local Enterprise Office, and, let’s be honest, your first thought is: “Is this mountain of paperwork, late accounts, tax wrangling, and mind-boggling forms really worth the hassle?” It’s a common hurdle—jumping through all those hoops might seem like you’re investing more time and money than you’d ever get back. But here’s the kicker: what if walking away now means you’re actually shortchanging your business’s future growth? Many small Irish business owners balk at this grind—and sure, for good reason—it feels overwhelming. But those who push through, who wrestle with cash flow forecasts and the administrative thorn, often find that first grant isn’t just about the money. It’s a powerful stamp of credibility, a backstage pass into a whole network of support, mentoring, and bigger funding opportunities down the line. You’re not just applying for funds; you’re proving your business can play ball on the big stage. So, before you shelve that application, consider this—could that initial struggle be the smartest investment you make this year? Ready to take that leap? LEARN MORE

Many small Irish business owners baulk at the level of work involved in submitting grant applications to state agencies, but the payback is well worth the time and expense, writes Gerry Byrne

So, you’re thinking of applying for your first grant from your Local Enterprise Office (LEO), but are also wondering if the outcome will justify all the work you have to put into it.

Back-of-the-envelope calculations might suggest you could potentially spend as much, if not more, in qualifying for the grant than you might receive.

The employment status of one or two employees may need to be regularised, your accounts might be late or your tax affairs could need to be improved.

Then there is the administrative burden. Forms need filling, projections need to be estimated and records brought up to date.

Smaller outfits without specialised finance staff will find they need to divert the efforts of employees away from urgent issues like production and sales, both of which can have costly outcomes.

Added to which, some grants represent a proportion of a specified expenditure like, for example, the purchase of new machinery or a market research initiative.

The investment must then be paid for up-front whereas grants are very often paid in arrears. The potentially detrimental impact on cash flow is obvious.

Anybody who gives up at this point can quite rationally justify their decision on the grounds that the ends do not justify the means.

But are they fooling themselves in the long run?

Businesses which plan to diversify, increase their market share and intensify production, may come to increasingly rely on grants.

But they will be increasingly playing catchup as they try to nurture a culture of relationships with grant-aiding agencies, a culture they could have easily absorbed sooner by playing the grant game from day one.

Not every small Irish business has someone adept at writing funding applications or projecting cash flows five years ahead.

Crafting a grant application is a rare skill, without which otherwise qualified companies can wreck their chances of success.

Businesses can be depriving themselves not just of grants but of the valuable mentoring that often runs side-by-side with the grant-aiding process.

Furthermore, one of the hidden benefits of applying for early, smaller, grants is that it helps you build credibility for future, larger funding opportunities.

Generating a business plan, cash flow forecasts and related documentation as part of a grant application demonstrates you can meet deadlines, follow procedures and provide adequate paperwork.

Outfits like the commercial banks and Enterprise Ireland, which deal with more mature, larger, companies, value businesses that have already displayed this discipline.

Grants usually require you to provide proof of expenditure plus evidence of tax compliance and producing this paper trail demonstrates your trustworthiness when it comes to handling public money.

Decision-makers evaluating subsequent grant applications can readily see that you’ve previously managed similar funds correctly.

Being able to say that you previously qualified for grants demonstrates external validation.

In other words, revealing that somebody else in a similar situation believed in you and backed your application encourages those adjudicating subsequent grant applications to find in your favour.

Bear in mind that everybody loves a trier. I have seen time and again the enthusiasm of agency personnel for successful entrepreneurs and their belief that they have somehow been instrumental to some extent for their success.

They like to have a good story, the women who make it in a man’s world, people from ethnic minorities who overcome discrimination, the guy who carves an empire from his spare bedroom, or the plucky upstart who takes on giant multinationals.

There is no favouritism.

Nobody can bend the rules or slip you a few thousand more than you qualify for and most of these schemes need EU approval and are strictly audited.

But participation and impressing the scrutineers brings its own benefits, in particular the encouragement you can receive which sometimes makes it easier to move up to the next level.

Very often agencies offering bigger supports — and Enterprise Ireland’s high potential start-up supports are a good example — look more favourably on businesses that have previously engaged with the system.

LEOs often enthusiastically recommend performing businesses up the grant food chain to Enterprise Ireland, so your first grant can be a valuable stepping stone.

grant applications — Businesses which plan to diversify, increase their market share and intensify production, may come to increasingly rely on grants.

The process connects you with development officers and mentors who can later vouch for your business or steer you towards other funding streams.

In short: your first grant acts like a “stamp of approval” — proving you can manage state funding responsibly, making it much easier to unlock bigger, more valuable grants later.

So take that first step and book a free consultation with your Local Enterprise Office, where staff will review your business plan and help match you with the right grant.

They will also happily guide you through the application process.