What is the TOV?
The Trading Online Voucher from your Local Enterprise Office (LEO) offers financial assistance via co-funding of 50% of the total value of a project to improve your online trading presence – up to a max €2500.
That means that if you spend €2500 on your project then your total budget will be €5000 (ex VAT).
Am I eligible for the TOV?
There are (of course) a number of criteria, but if you need this voucher and have been trading for more than 6 months then there is a good chance that you will be eligible.
You can also now apply for the voucher a second time, once the final claim for your first voucher has been submitted.
You can find more information on the LEO website here: https://www.localenterprise.ie/Discover-Business-Supports/Trading-Online-Voucher-Scheme-/
So what can you use the voucher for?
You can use it to add or improve payment facilities or booking facilities on your website, or for developing new apps. The funds can also be used for subscriptions or licences for software and solutions related to the project.
In addition, you can use up to 30% of your voucher amount towards running online ads (Facebook or Google advertising, for example).
In 2020 the percentages were temporarily changed, meaning that the business’ portion of the voucher was 10% rather than 50%. This was designed to enable businesses to respond to the covid crisis by getting online quickly and with a lower spend (€250 rather than the standard €2500). This did mean, though, that the overall value of the project was reduced from €5000 to around €2750. With a total of €5000, there is a lot more potential to achieve more with the voucher, we would encourage anyone who “missed out” not to let that put them off considering a build or an upgrade project.
How about an example?
We would always suggest you book a call with us to discuss the options that would best suit to promote your business in the most effective and cost-effective way.
However, to give you an idea of how a Trading Online Voucher might be spent, here’s a sample:
- Standard Website Build
- ECommerce / Web Shop
- Domain Registration
- 1 year’s hosting
- 1 year’s website management (security updates, backups, general maintenance)
- 1 Social Media Bootcamp to kick start your online promotion with an 8 week plan for social content
- 12 month’s Content Management – planning, scheduling and posting your content to website or blog and social media platforms
- A Facebook ads budget of €800
Sounds good, let’s get started!
If this sounds like exactly what your business needs then check out your Local Enterprise Office for the next TOV seminar. Bear in mind that as the workshops are currently entirely online you can attend a workshop with another LEO. You do, however, need to submit your application with your own LEO.
Feeling a bit bamboozled and confused by the process? Never fear, we are here to help! Why not book a call with us?
We can have a chat about your project requirements, advise you on how you can best make use of the funds available, and prep the info needed to fill in your application form? We’ll create a document together, which you can then use to fill in the form.