Trading Online Voucher (TOV)
TOV: A Golden Opportunity for Small Businesses
In today’s digital age, businesses are shifting towards online trading more than ever. Recognizing this trend, the Trading Online Voucher Scheme has been introduced to assist small businesses in developing or enhancing their online trading capabilities. Let’s dive into the key details of the scheme:
The Trading Online Voucher (TOV) is a financial incentive geared towards small businesses. It aims to help these enterprises develop or boost their online trading capabilities. The voucher covers up to €2,500 or 50% of eligible expenditure (exclusive of VAT), whichever is lower.
What Can You Use the Voucher For?
- IT consultation
- Upgrading or developing an e-commerce website
- Implementing online payments or booking systems
- Purchasing internet-related software
- App development
- Digital marketing strategies
- Online advertising (subject to certain restrictions)
- Professional photography for the website
What Can't You Use It For?
The voucher can’t be used for:
- Developing brochure websites
- Purchasing non-internet related software
- Any activity not related to e-commerce trading.
Application and Drawdown Process:
- Ensure you’ve read the terms & conditions.
- Participate in an information session.
- Submit your application online.
The application process is competitive, and not all applications are guaranteed funding. Applicants must also attend a seminar that provides information on how to best use the voucher.
Key Eligibility Criteria:
- Limited or no e-commerce presence
- 10 or fewer employees
- Turnover less than €2m
- Business must be trading for at least 6 months
- Business must be located within the jurisdiction of the Local Enterprise Office (LEO) they apply to
Important Points Regarding Suppliers:
When availing of the voucher and drawing down funds, businesses need to provide proof of payment and other details related to their suppliers. This includes original paid invoices from the supplier(s), details like Company Registration Office (CRO) details, VAT details, or evidence that the supplier is a registered business in their territory.
It’s crucial to note that the scheme doesn’t prevent businesses located in one region, like Longford, to do business with clients in another region, like Dublin. What’s important is the evidence of the supplier’s legitimate business registration, irrespective of their location within Ireland.
The Trading Online Voucher Scheme offers a significant boost for small businesses looking to make their mark online. Whether you’re considering starting your online journey or looking to upgrade your current online presence, this might be the perfect opportunity.
Ready to take the leap?
Reach out to us for further insights, guidance on your application, or to discover how we can enhance your website and marketing strategies to support your business during these challenging times.