Funding for new business

Yorky

I know someone who wants to start a driving school business but is having difficulty securing any funding, mentoring or general help. There is a demand in the area where they live especially due to the forthcoming compulsory requirement to have driving lessons.

They have been self-employed for several years but their business has declined significantly. They are not entitled to a social welfare payment so FAS cannot provide funding for the training. The local enerprise board does not fund services as a rule and specifically excludes 'mobile assets' which, by its very nature, a driving school consists of.

Does anyone know of any assistance that could be availed of either in the form of funding or advice? Is it possible to secure funding from an enterprise board or similar for a driving school?

Thanks in advance.

JonJoeDali

Yorky wrote: »

I know someone who wants to start a driving school business but is having difficulty securing any funding, mentoring or general help. There is a demand in the area where they live especially due to the forthcoming compulsory requirement to have driving lessons.

They have been self-employed for several years but their business has declined significantly. They are not entitled to a social welfare payment so FAS cannot provide funding for the training. The local enerprise board does not fund services as a rule and specifically excludes 'mobile assets' which, by its very nature, a driving school consists of.

Does anyone know of any assistance that could be availed of either in the form of funding or advice? Is it possible to secure funding from an enterprise board or similar for a driving school?

Thanks in advance.

No "assistance" out there I'm afraid. Only export-orientated companies with high growth potential, selling products/services that fall into categories that align with the strategic interest of Government economic policy are eligible for State support.

If you're selling biomedical devices, computer hardware IP, agri-tech, financial services, etc. EI might want to talk to you. Enterprise boards aren't as strict, however in recent years, they're becoming ever more so. Varies from county to country. 5 years ago if you applied to a county enterprise board to be a "web designer", they'd give you a desk, but now they'd tell you to go take a walk in the park as every Tom Dick and Harry coming out of the ITs fancy themselves as Web 2.0 entrepreneurs. That said, if you've a good idea, have good people skills and energy, you can get under the wing of an enterprise board.

On driving schools: this is an area that is coming under increased competition. Also, the regulations are becoming ever tighter. It reminds me of what happened in the taxi industry. Lots of unemployed people looking for somewhere to put their redundancy money, and instead of "buying a plate", you now hear people all over the place talking about "setting up a driving school". Do your market research. There'll be lots of people out there only too willing to take your money from you.

Fergal C

Have a look at http://www.first-step.ie/

The Enterprise Board may still give advice and support (perhaps in the form of mentoring) even if they won't give funding. You could also ask your Enterprise Board if there is an Enterprise Fund in your area.

SuzieD

Yorky wrote: »

I know someone who wants to start a driving school business but is having difficulty securing any funding, mentoring or general help. There is a demand in the area where they live especially due to the forthcoming compulsory requirement to have driving lessons.

They have been self-employed for several years but their business has declined significantly. They are not entitled to a social welfare payment so FAS cannot provide funding for the training. The local enerprise board does not fund services as a rule and specifically excludes 'mobile assets' which, by its very nature, a driving school consists of.

Does anyone know of any assistance that could be availed of either in the form of funding or advice? Is it possible to secure funding from an enterprise board or similar for a driving school?

Thanks in advance.

Many of the Institutes of Technology run 9-month training courses for entrepreneurs, starting in October. Participants are eligible to apply for Enterprise Ireland's CORD funding.
http://www.enterprise-ireland.com/en/Funding-Supports/Company/HPSU-Funding/CORD-Grant.html

I'm not sure what region of Ireland you're in but the deadlines for application are imminent e.g. the deadline for the Novation Enterprise Platform Programme in Dundalk Institute of Technology is this Friday, 17th September:
http://bit.ly/caUyFW

Wishing your friend the best of luck with the driving school.

ReubenatBullet

Hi Yorky, I recently did a piece that I feel may be of use to you http://blog.bullethq.com/the-finances-of-a-startup-sources-of-finance/