'Benefits are huge' - Irish retailers can now apply for funding to improve online presence

Irish retailers are being encouraged to apply for funding to enhance their online presence. 

The Minister of State for Employment Affairs and Retail Business, Neale Richmond, today (April 5) encouraged retailers to apply for up to €25,000 funding available under the latest Online Retail Scheme. 

Minister Richmond said, "Irish retailers have proven their resilience over the past few years, adapting to changing customer behaviour in many cases by developing an online presence. This not only serves customers in Ireland, but potential customers across the world. 

"An online presence is no longer optional for many businesses, it is a key part of any business model and the benefits are huge. While it may be an intimidating prospect for some, the government is determined to support businesses on this journey. The Online Retail Scheme is there to help ease this transition and I am delighted that it is again open for applications. 

"Since 2018, the Online Retail Scheme has allocated over €28 million in funding in supporting more than 700 projects from Irish retailers. Importantly, the Scheme has a national reach with more than 70% of successful retailers from the previous funding rounds based outside Dublin." 

According to the minister, businesses who have participated in the scheme have reported increased sales in Ireland and abroad, new employees and an enhanced digital skillset among their current employees.

He continued: "Clearly, digitalisation makes a tangible difference to the success of Irish businesses." 

The scheme - administered by Enterprise Ireland - provides direct financial support to retail companies to develop a more competitive online business.

Just over €3million is available in this round of funding. 

Manager of the Retail, Consumer and Online Department with Enterprise Ireland, Teri Smith, said, "The Online Retail Scheme is making a real difference to the bottom line of hundreds of retailers across the country and has potential to open up new markets for the retail sector. 

"An enhanced online presence not only boosts sales in the short-term, it also brings longer-term benefits, allowing retailers to better use data to understand customer needs and manage customer relationships." 

To be eligible retailers must: 

• have an existing online presence (for example, website or social media)
• have a physical retail store and derive the majority of company revenue from retailing products directly to individual consumers
• operate a business-to-consumer (B2C) model 

The Outdoor Scene, based in Goatstown in Dublin previously received funding under the Online Retail Scheme. 

Managing Director Eamonn O’Hare said, "Having an attractive, engaging online presence is vital for our business. We’ve used the funding available through the Online Retail Scheme to enhance our website, outdoor.ie, and use the platform to showcase our range of outdoor garden products. Customers can easily navigate our offering and choose the best products for them and their families.

"The Online Retail Scheme has enabled us to increase sales and importantly connect with our customers. I would encourage every retailer to examine the potential of e-commerce and digital innovation that this funding supports." 

The scheme opened for applications yesterday (April 4) and closes on May 3. 

For further information, click here.