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Applying for the Trading Online Voucher Scheme in 2024
At this point in time, most business's in Ireland have heard of the Trading Online Voucher, if you one of the few that havent then i will briefly summarise before explaining how you can apply for The Trading Online Voucher or TOV is a goverment run initiative that aims to increase the amount of Irish Business that are using ecommerce to take payment for products or services. The grant offers up to €2500 or 50% of the total project cost (Whichever is smaller!) and covers the part of the cost to either install or upgrade ecommerce technology, online marketing and social media.
In this Comprehensive Guide I will provide step by step instructions, on how to apply for the TOV, expected timeframes and some hot tips to make your business join the other 3000+ successful applicants.
How Does The TOV Application Process Work?
The Trading Online Voucher is a relatively easy 4 step process.
- Decide on what services will best serve your business with the parameteres allowed by Trading Online Voucher
- You need Obtain 3 Quotes from different service providers
- The Next Step is to Attend an Informational Webinar
- After The Webinar you will be sent an application to fill out submit for review (If you want a sneak peak at the application, i have included one below)
Step One: What Services Do You Require?
The first step is mapping out your goals for trading online and identifying the services required to get there. Do you need a new e-commerce website built from scratch? Is it time to upgrade your existing website with an online store? Or perhaps you simply want to improve your digital marketing, SEO, and online advertising efforts.
Make a list of the specific online capabilities you need based on your business objectives. Common eligible services include:
- Website design/development
- E-commerce platform setup
- Mobile app development
- Search engine optimisation
- Content creation
- Social media marketing
- Online advertising
- Training on e-commerce, digital marketing, etc.
Step 2: Collect 3 Supplier Quotes
Next, get price quotes from at least 3 suppliers that offer the services you identified. The suppliers must be registered companies (not freelancers). They can be located anywhere.
If you need services that span multiple specialties, making 3 separate quotes impractical, your Local Enterprise Office (LEO) may allow an exception.
Step 3: Attend the Informational Webinar
In order to attend webinar you must first sign up to your LEO's website, in order to sign up to your local LEO site. You can do this by navigating to main Local Enterprise Office website, then selecting Find Your Local Enterprsie Office.
Once you have selected an appropriate event, you can select it by pressing the "Book Now" and going through the booking process.
After clicking Book Now you will have to select the "Number Of Attendees" The Only option for webinars is "1" So this should be selected, then you should press the blue and white "Book Now" Button
The Final Stage of signing up is to fill out all your contact details, field by field. Once you have completed the form submit your details. Details of how to access the webinar will then be emailed to you. Ensure that you are on time and make ample notes during the webinar.
What will the Information Webinar Teach You?
The infomation webinar aims to educated viewers on the following four topics.
- How to develop an e-commerce website
- Digital marketing strategies and channels
- Search engine optimisation best practices
- Tips for offering outstanding online customer service
Step 4: Complete and Submit the Application
After the webinar, you can access and fill out the official TOV application form. This application requires detailing:
- Basic company information like business type, address, owner details, etc.
- Overview of your products/services
- Description of your planned "Trading Online Project"
- Analysis of your target market and main competitors
- Unique selling points you plan to promote online
- Breakdown of project costs based on supplier quotes
- Financial and employment projections if the project is implemented
You'll also need to provide evidence that your business has been operating for at least 6 months, such as tax records or business registration documents.
Once the application form is complete, attach the supplier quotes you obtained and submit everything to your LEO by email. LEO committees will then evaluate all applications received.
You can download the application here.
Upcoming seminar dates
DLR: Trading Online Voucher Webinar 13th May 2024 (Date Passed)
DLR : Trading Online Voucher Webinar 18th July 2024
Kildare: Trading Online Voucher - Information Webinar - 8th June
Westmeath: Trading Online Voucher Webinar 9th June LEO231404
South Cork: Tradling Online Voucher Webinar - Wednesday 12th June 2024
If Approved: Implementation and Drawdowns
Successful applicants will be notified within 1-4 weeks of applying. Once approved, you'll have a 3-month period to implement your proposed online solution using the voucher funds.
Most TOV projects are divided into two drawdown phases. For example, for a new e-commerce website build, the first drawdown would cover upfront costs like design and development. The second drawdown releases after the site launches to pay for additional services like SEO, digital marketing, training, etc.
If you need more than 3 months to fully implement your project, you can request a 1-month extension from your LEO at least 2 weeks before the original deadline.
Taking Your Business to New Digital HeightsWhile no business can ignore the online world today, investing in a robust digital presence requires considerable time, effort and money. The Trading Online Voucher scheme aims to ease this burden on small Irish businesses.
By covering 90% of costs up to €2,500, the TOV provides a substantial grant to build an e-commerce website, mobile app, digital marketing engine, or whatever your business needs to reach more customers online.
The application process is straightforward as long as you plan ahead. Start by defining your online strategy and required services. Source comprehensive quotes, attend the LEO webinar, and submit your application package on time. If approved, you'll have the funds needed to finally elevate your business to the next digital level.
Don't miss out on this valuable opportunity to trade more online in 2024 and beyond. Visit your LEO's website today to learn more about the Trading Online Voucher scheme and take that first step forward.
Maximising Your Voucher: Tips and Strategies
The Tov scheme is not just for web development or ecommerce intergration, it can also be used to cover marketing costs for companies who already have an online presence.
The Trading Online Voucher Scheme can increase your websites online profile in a few ways:
- SEO (Search Engine Optimisation). This means your website is optimised for search engines by using relevant keywords, creating high-quality content, optimising meta tags, improving website speed, and obtaining backlinks from reputable sources. This helps improve your website's visibility and ranking in search engine results pages.
- Creating Quality Content. A good website developer will create engaging and shareable content that addresses the needs and interests of your target audience. This can include, but is not limited to, blog posts, articles and videos.
- Invest in Paid Advertising. Running paid advertising campaigns such as Google Ads, social media ads or display ads to drive targeted traffic to your website and increase visibility, especially in competitive markets or for time-sensitive promotions.
- Monitor and Analyse Performance: Use web analytics tools such as Google Analytics to track key metrics such as website traffic, user behavior, conversion rates, and ROI. Analyse data regularly to identify areas for improvement, optimise your strategies, and make data-driven decisions to drive continuous growth.
Integrating E-commerce and Online Booking
By integrating online booking and e-commerce seamlessly into your website, you can provide a convenient and cohesive experience for your customers, drive more sales and bookings, and effectively manage your business operations.
After the Application: What to Expect
Evaluation Process and Timeline
Once everything has been submitted, you can expect to hear from your Local Enterprise Office within 1-4 weeks about whether you have qualified for the Trading Online Voucher or not. The following criteria are considered when the application is being considered:
- Project Suitability
- Value Added potential
- Export potential
- Job creation potential
- Financial Stability
- Record decisions and report to the Local Enterprise Office approvals committee
Implementing the Funded Project
As part of the application process applicants will also be required to participate in an information session on how to use and get the best value for money from the voucher. By accepting a Trading Online Voucher, successful applicants are required to provide reports on online trading at various intervals as follows: initially upon participation in the scheme, again after 6 months, and subsequently at annual intervals for up to three years thereafter. These reports will encompass the following aspects: new or reallocated jobs, turnover growth, expansion into domestic or export markets, cost reductions, and anticipated follow-up investments.
FAQs: Trading Online Voucher Scheme
Who can apply for the Trading Online Voucher?
Small businesses located within the Republic of Ireland are eligible to apply if they have been in operation for at least six months, employ no more than 10 individuals, and generate an annual turnover of no more than €2 million.
Who is not eligible for the Trading Online Voucher?
- Companies with charitable status are not eligible to participate in the scheme
- “Not for profit” and social entrepreneurship applicants unless they operate in a commercial domain
- Professional services specialising in IT type services who are already capable of trading online using existing in-house systems
- Projects which are contrary to public policy
- Projects essentially comprising importation and distribution
How can I apply for the Trading Online Voucher
You can apply for the Trading Online Voucher through your your Local Enterprise Office or online at www.localenterprise.com. You will first need to attend am informational webinar, after which an application form will be sent to you. Once this has been submitted, along with other supporting documents such as supplier quotes, you will hear back within 1-4 weeks.
What can I expect from the webinar?
The informational webinar lasts between 2-3 hours and provides applicants with a wealth of information about creating a website, strategies for reaching new customers and markets via digital marketing, social media, and search engine optimisation (SEO), alongside other relevant subjects.
What can I use the Trading Online Voucher for?
You can use the Trading Online Voucher for one or more of the following:
- IT, digital marketing, or digital strategy consultation
- Developing or upgrading an ecommerce website
- Implementing online payment facilities or booking systems
- Purchasing Internet-related software
- Purchasing online advertising (for up to 30% of the approved voucher amount and it can only be drawn down in one payment phase)
- Developing an app
- Developing a digital marketing strategy
- Implementing a digital marketing strategy
What are the terms and conditions for the Trading Online Voucher Scheme?
- Vouchers will have a maximum value of €2,500 or 90% of eligible expenditure (exclusive of VAT), whichever is the lesser
- Voucher approval must be gained before incurring any expense
- Own (internal) labour is not considered an eligible expense
- Only third-party costs will be considered
- All third-party/supplier invoices must contain proper business details (e.g. tax and business registration details)
If my application is approved, how do I receive my payment?
In order to receive your payment, you will have to submit a few more documents. These include, a tax clearance certificate, your CRO number, a signed declaration from both yourself and the supplier of choice, an invoice from the supplier, a bank statement showing evidence of payment for the invoice and a declaration of project completion by the supplier.
Further Resources and Support
Local Enterprise Office Support
You can contact your Local Enterprise Office by visiting www.localenterprise.ie and choosing your county. There will be local contact details displayed on each county’s page. There is also a wealth of information on the website about the Trading Online Voucher Scheme.
Additional Funding and Resources
Businesses that have already received a Trading Online Voucher can now apply for a second voucher, where upgrades are required. The funding provided can be utilised for various purposes, such as integrating payment facilities or booking systems into your website, or creating new applications for your customers. Additionally, the voucher can be allocated towards subscriptions for affordable online retail platform solutions, to help companies quickly establish a retailing presence online. By partnering with a digital marketing agency, you can maximise the impact of your Trading Online Voucher and achieve your business objectives more effectively in the digital realm. You can visit www.bubblehub.ie to see the wide range of services we offer. Our team of experts specialise in giving brands an unfair advantage in the digital marketing world. We are a full-service agency offering bespoke web design and development, digital marketing, app development, video production, branding and more.
