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Retail Excellence Welcomes The Announcement Of €6.5m In Grants To The Retail Sector

Published on Jul 3 2020 8:50 AM in Technology tagged: Trending Posts / Enterprise Ireland / Retail Excellence / Online Retail Scheme

Retail Excellence Welcomes The Announcement Of €6.5m In Grants To The Retail Sector

Retail Excellence today welcomed the commitment by the Government through Enterprise Ireland to provide €6.5 million in grants to the Retail Sector.

The move will see that 183 retailers will get additional funding to expand their online presence, as part of the COVID-19 Online Retail Scheme, the group said.

"Over €6.4 billion was spent online in Ireland last year, and with over 75% of this going to merchants outside Ireland, this is a very welcome boost to improve our competitiveness," said Keelan Bourke, head of commercial, Retail Excellence.

Bourke highlighted that the Retail Sector has faced significant challenges in the last three months and as the country reopens retailers are reporting footfall down by 50% in some locations.

"Support for online is vital for retailers as they restructure their business model," he added.

Online Retail Scheme

The scheme, which was announced on the 30 April by Minister for Business, Enterprise and Innovation, Heather Humphreys, 'aims 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.'

Successful applicants will receive financial support of up to 80% of eligible project costs, with funding ranging from €10,000 to €40,000 under the competitive call, the group added.

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