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Inishowen coastal businesses urged to apply for funding 09.09.22

BUSINESSES in Inishowen’s coastal communities are being encouraged to apply for the Brexit Blue Economy Enterprise Development Scheme, with funding of up to €200,000 available per capital project.

The aim of the scheme is to stimulate growth in rural coastal communities post-Brexit, with funding available to businesses operating within 10 kilometres of the coastline and involved in the blue economy. The blue economy covers a wide range of economic activities within coastal communities such as seafood, coastal tourism, boat building and maintenance, marine recreation and renewable energy initiatives.

The scheme, the largest of its kind ever, is open to three streams of projects: Capital Investment, Business Mentoring & Capacity Development and Upskilling & Training.
Paul Downes, regional officer at BIM, said the scheme has already received many promising and innovative proposals: “We’re delighted with the quality of the applications that have come in to date and encourage more businesses, particularly for the capital investment stream, to submit an application for funding.”

Capital project initiatives must be within one of the following blue economy sectors:
• Small Non-Commercial Harbour/Pier Activities
• Boat Building and Repair
• Coastal Tourism
• Marine Leisure and Sport
• Seafood
• Renewable Energy Initiatives supporting the Blue Economy

The applicant must be a micro or small enterprise and projects must be completed by 30 September 2023.

Full details about the Brexit Blue Economy Enterprise Development Scheme, including how to apply can be found at www.bim.ie .
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