This article aims to help you understand what the trading online voucher scheme is about, how you can benefit from it, and the eligibility criteria. It also explains how to apply for the webinar and provides an example on how to fill in the application form.
Table of Contents
- What is the Trading Online Voucher (TOV) scheme?
- Key Terms and Conditions
- How to apply for the TOV webinar
- How to fill in the application form
What is the Trading Online Voucher Scheme?
The internet age has birthed a new way of doing business, aptly named "trading online." With the advent of smartphones, tablets, and ubiquitous internet access, consumers have begun to favour online transactions over traditional brick-and-mortar shopping.
Recognising this shift in consumer behaviour, the Irish Government introduced an innovative initiative known as the Trading Online Voucher (TOV) Scheme.
The program is designed to aid small enterprises in developing or improving their digital presence and it provides financial assistance to eligible businesses seeking to propel their online operations.
The TOV provides financial assistance of up to €2,500 along with training and advice to assist companies to trade more effectively online.
The scheme was launched by the Irish Government’s National Digital Strategy division in 2014 to support this transition and help small Irish businesses harness the power of digital trading platforms.
A survey conducted by Enterprise Ireland reveals that companies who availed themselves of this initiative reported on average a 60% increase in sales with exports up by 20%. Moreover, 90% of those asked reported that trading online had helped them lure new customers.
Take a look at the video for an overview of the scheme and some tips on application
Trading Online Voucher criteria: Terms and Conditions
Lets go through the most common questions that you'll likely have about the scheme.
Who is eligible?
-
Businesses with or without a website
-
Operating for 6 months or more
-
Less than 10 employees
-
Annual revenue under €2 million
-
Located within a LEO region that’s participating in the TOV scheme
Who isn’t eligible?
-
Charities
-
Commercial semi-state companies
-
Trade associations
-
Company representation bodies such as Chambers of Commerce
-
Businesses with more than 10 employees or revenues over €2 million
-
Profession IT services who already capable of trading online
-
Conferences and Seminars
-
Certain sub-categories of businesses that fall under a specific set of NACE codes
-
Take a look at the LEO website for more information on what isn't eligible
What can I use it for?
-
Search Engine Optimisation
-
Content Marketing
-
Keyword research for SEO/SEM
-
Pay-per-click or PPC (a form of advertising)
-
Facebook/Instagram/Linkedin ads
-
Web development
-
Courses designed to help build online skills
-
Payment facilities to receive money from your website
-
Upgrade of a website
-
Maintenance of a website (must be proportionate to the project, i.e. it can’t be THE project!)
-
Website hosting (similar to maintenance above)
-
App design for web, iOS or Android
-
Not an exhaustive list, check with LEO to see if your idea qualifies!
What can’t I use it for?
-
Creating a simple informational website: These sites are designed just to provide information and don't allow visitors to engage in transactions or interactive activities. However, there might be exceptions if your site needs to gather leads or support sales activities - check with your local LEO officer.
-
Offline software or services: This includes expenses like insurance, professional fees, or equipment that's not used for online business activities (like a hairdryer, for example).
When does it expire?
Usually 6 months to have the work completed, double check with LEO.
When can i start?
You can start the process once you’ve attended the webinar session.
How much is it worth?
It's worth up to €2,500 or 50% of the expenditure. So, for instance, if you were quoted €5,000 for a website upgrade, you would pay €2,500 and the TOV would cover the other €2,500.
Who approves the voucher?
The LEO evaluation committee: This committee is comprised of astute individuals familiar with online trading who'll assess your application based on several factors.
These factors include the potential impact of your project on your business, its relevance to your enterprise's growth strategy, and how well thought-out it seems in the context of digital commerce.
What the LEO will consider
Project Suitability - how suitable the TOV is to your project?
Value Added potential - how the TOV will add to your business?
Export potential - whether the TOV will help improve business exports?
Job creation potential - will going online or improving online capabilities improve your chances of employing more people?
How will the project aid the business post the COVID-19 Pandemic?
Who pays your supplier?
Payments are made directly by Local Enterprise Offices (LEOs) to you. All work must be completed and fully paid for before the claim. However, you need approval for a TOV before pay for any services, software, etc.
How do I apply?
-
First step is to attend the webinar.
-
After attending, you’ll be emailed a link to the online application system.
-
Click the link and create your profile.
-
Go back to your email and then click the link to make a ‘Trading Online Voucher’ application
-
Complete the online form.
-
Once you’ve completed it successfully, you’ll receive an email confirming your application has been accepted.
How long will I have to wait to be approved?
This usually takes about 4-6 weeks, but could be sooner.
Do I pay the vendor and am I refunded?
Yes. You pay the vendor, solution provider, etc directly and are then refunded the value back.
What do I need to supply to ensure I get the my money back through the scheme?
-
First and foremost, TOV approval!
-
Some form of written correspondence from you to LEO that has your web address and confirmation you can trade online
-
Supplier invoices for approved work
-
Bank statement showing proof of payment to the supplier
-
Evidence of tax compliance as a trader
Can I get a second TOV?
Yes, but you need to show proof that your business has grown and benefitted from the first TOV you got.
The intention behind this requirement is simple - The Local Enterprise Office wants to ensure that businesses are not just asking for more money without making any substantial progress with their initial funding. It's recommended that you're prepared to provide evidence of improvements in your online presence or sales due to the first voucher’s influence when applying again.
Keep these thoughts top-of-mind before diving back into another application form submission process - they could make all the difference in ensuring your business remains eligible for trading online with this beneficial scheme! And remember; being knowledgeable about all aspects of trading online will certainly enhance your chances of successfully leveraging this aid again.
How many quotes do I need?
Three quotes are needed. If you can’t get three quotes, submit a reason for that when uploading your documents and make sure it’s justifiable! For instance, if there’s only one vendor offering a very specific piece of software that is not available elsewhere, this may qualify as a reason.
What are the steps?
-
Think about what you need the TOV for
-
Chat to your LEO
-
Sign up for webinar
-
Attend the webinar
How do I budget what I need properly?
First, determine where the funds from your online voucher will be most effective. This could be upgrading your website to include e-commerce or focusing on digital marketing. Allocate the voucher budget to each area based on its importance and required investment. Secondly, monitor your spending closely to identify and address any budget overruns early. While flexibility is crucial in managing your online presence, maintaining financial discipline is key for long-term sustainability.
Can I change suppliers after being approved?
Yes, this is possible. If you need to change suppliers after being approved for the TOV, a new quote must be submitted via the online application form. The LEO will review if this is eligible and if so, you’ll get an email letting you know the changes have been approved.
I can do some of this work myself, can I get paid through a voucher?
Own labour is not an eligible expense, third party costs only will be considered.
How to attend the webinar
As part of your application for the TOV scheme, you'll need to attend a mandatory webinar. This is a great opportunity to learn more about the scheme, how to apply, and what to expect in terms of timelines and qualification. Lets cover some of the basic aspects of the webinar first, and then I'll show you how to apply to attend.
What to expect from the webinar
In the session, you'll get an overview of the Trading Online Voucher Scheme and how it operates. You'll learn what the voucher can be used for, with examples of successful applications by other businesses. The session will include an overview of eCommerce in Ireland, a guide on applying for the voucher, and a general FAQ/Q&A segment. The Local Enterprise Office (LEO) will explain steps for selling online, options for purchasing software, and adding payment methods to your website. Additionally, you'll receive marketing tips and insights on using the TOV for promotional activities.
How long is the webinar?
The webinar is three hours long. Make sure you're in a quiet place so you can concentrate while attending. Additionally, you may want to ask questions so being somewhere quiet will be helpful for that too!
When can I go?
This will depend on the LEO that's hosting the webinar. Usually, they're held once a month, but it might be more or less depending on where you're applying to. Here's the list of the Local Enterprise Office websites around the country that offer the webinar. Click through to whichever one is closest to you and see when they offer them. You can book months in advance.
How long after attending the session do I have to apply?
You've got 9 months after you’ve attended a webinar session to apply for the voucher. After this time you must re-attend the webinar again.
Tips:
-
Keep notes to help formulate your own strategy (here's some suggestions on taking good notes)
-
Ask questions: Here's some example questions you could ask:
-
Are there any common mistakes or pitfalls in the application process that we should avoid?
-
Are there any follow-up requirements or reporting obligations after receiving the voucher?
-
Can the voucher be combined with other grants or financial supports?
-
What are some successful examples of how businesses have used the voucher?
-
Are there additional resources or support available from the Local Enterprise Office after receiving the voucher?
-
Come prepared, find a comfortable place to sit while attending, have a drink nearby, make sure you have a nice supply of fresh air to help you concentrate, and a cup of tea or coffee too.
How to access the LEO website and apply for the webinar
Ok, lets go through an example of how to access the LEO website and apply for the webinar.
We’ll use the Donegal LEO’s website as an example of how to apply. Of course, you’re going to go to the LEO region website where you live.
First step is to go to the LEO website. In our case, this is https://www.localenterprise.ie/Donegal/
Once you're there, click on 'Training and Events'
From here use the filter dropdown and choose the category ‘Workshop’, then click 'Search'.
You’ll be given a number of dates to choose from.
When you’ve chosen one that works for you, choose the number of attendees (on this website, you can only choose 1), then click on ‘Book Now’.
You’ll then be told you’ve added the event to your cart. Click on ‘Proceed to Checkout’ on the pop-up that appears.
After this you'll be brought to the page where you can fill in your details.
Fill in your details on the form. The cost of the webinar is free, so don’t be alarmed by the ‘Billing Details’ - you can avail of paid courses through LEO too and they use the same checkout process.
Once you’ve done that, click ‘Confirm Booking’ at the bottom of the screen. You’ll then receive a confirmation email confirming your spot. I’d recommend adding the event to your calendar, be that electronic or paper, so you don’t forget!
It's as simple as that. Fill in your details on the form, then click submit and you're finished. Enjoy the webinar! Next up we'll look at filling in the application form. You'll need to do this after attending the webinar.
How to fill in the application form
This is what the LEO will review when considering your application. If you nail this properly, you’ll have no issues. So spend a bit of time doing your due diligence, making sure it’s accurate, free of errors, and you’ll be just fine.
Where do I get the form?
After completing the webinar, you’ll be emailed a link to start your application online. So you’ll be filling in the form online rather than filling it in paper and pen style.
Before you start, assess what you need
What areas could benefit from a digital boost? Could your website use an upgrade?
Maybe you don't have a website at all. Or perhaps it's your online marketing strategy that needs attention.
Be clear about why you need this voucher and how its potential funding will be disbursed across different digital services that will ultimately drive growth in your business. This will come across in your application too, so thinking about this will put you miles ahead and you won’t waste any time.
Ask yourself these questions:
What value do we aim at adding through going digital?
How would being able to trade online affect us and our customers positively?
Perhaps you're looking for an upgraded website that's mobile-friendly and equipped with advanced e-commerce features. Maybe you need professional training on digital marketing strategies, or perhaps access to photography services for product imaging is what will elevate your business.
Be as detailed as possible – the more information provided, the better understanding they'll have about how well thought out your plan is! Documentation too plays a vital role in streamlining your trading online voucher application process. Think of it as evidence that supports all those lovely details you mentioned earlier in the application form. For example, if you've indicated that hiring an SEO specialist will grow your organic traffic by 30%, back this up with data from similar businesses who experienced such growth after SEO optimisation.
If applying for support towards creating high-quality product images or videos, provide examples demonstrating their effectiveness in increasing conversion rates and so on.
How to fill in the form along with tips
I’m going to break down filling out the form and use an example to do so. Lets see how I would fill it in for a fictitious business that makes cushions.
Full disclosure, we’ll fill out the downloadable version of the form that I found online. The online application that you end up filling out may be different from this. This is just a guide to help you on your way.
Ok, here’s the first page. I’ll leave it to you to add the details about your business, as in, when it was established and so on.
Lets start on the ‘Describe your business’ section.
Here’s how we could describe our business:
My business, founded and led by a passionate female entrepreneur, specialises in creating handmade cushions crafted from organic materials. We are dedicated to offering eco-conscious homemakers unique, sustainable home décor options. Each cushion is designed with the utmost care, ensuring not only comfort but also a commitment to environmental sustainability. Our products cater to a growing market of consumers who prioritise eco-friendly practices in their homes. By using organic, locally-sourced materials, we support sustainable agriculture and reduce our carbon footprint. Our cushions are not just accessories; they're a statement of environmental responsibility and a testament to the quality of artisan craftsmanship. This business is more than a brand; it's a movement towards a more sustainable, thoughtful approach to home decoration.
Ok, the next page.
Lets start at the top: Describe your trading online project
Ok, so here we’ll need to go into some more detail about what we’re going to use these funds for - here’s my take on it for our cushions business:
Our project's primary goal is to launch an intuitive, user-friendly eCommerce store, transforming our online presence to match our eco-conscious ethos. This digital storefront will enable us to reach a wider audience of eco-friendly homemakers, offering them easy access to our unique range of handmade organic cushions. The store will feature detailed product descriptions, high-quality imagery, and a seamless checkout process to enhance customer experience. Additionally, it will incorporate features such as customer reviews and a blog section to educate consumers about sustainable living and the importance of organic materials. This project aims not just to boost sales, but also to create a community around our brand, fostering engagement and loyalty. By transitioning to online trading, we expect to increase our market reach, streamline our sales process, and reinforce our commitment to sustainability and quality craftsmanship.
The next part we’re asked to look at is developing our project plan.
The first part that we need to look at is what is our unique selling point, i.e. what differentiates us from all the other businesses and cushion makers out there! Again, here’s my attempt:
Our project's unique selling point is our exclusive range of handmade cushions crafted from organic materials, tailored for eco-conscious homemakers. Unlike mass-produced alternatives, each cushion is a testament to sustainable living, merging aesthetic appeal with environmental responsibility. Our organic materials are locally sourced, supporting sustainable agriculture and minimising our carbon footprint. Additionally, our eCommerce platform will revolutionise our business processes. It will not only provide a seamless, educational online shopping experience but also integrate eco-friendly practices in packaging and shipping. This dual focus on product uniqueness and sustainable online operations sets us apart in the market, appealing to a growing demographic passionate about eco-friendly home decor.
The next question is asking about our target market. So, to fill this in, you’ll need to know who your customers are.
As you’ll already be in business at this point (because you need to be in business for at least 6 months to avail of the TOV) you’ll likely have a good idea of who you’re selling to. If you’re a little unsure though, reach out to me as I can help with customer research.
Our target market comprises eco-conscious homemakers who value sustainability, quality craftsmanship, and unique home decor. These customers are typically aged 25-45, actively seeking eco-friendly alternatives to conventional home products. They are well-informed about environmental issues and prefer to support businesses that align with their values. Our online store will cater to this demographic by offering an easy, engaging shopping experience. We aim to attract customers who are not only interested in beautifying their homes but also in making ethical, environmentally responsible purchases. By providing detailed product information, customer reviews, and engaging content about sustainable living, we will position our brand as the go-to source for eco-friendly home decor, appealing to a market that prioritises both aesthetics and environmental impact.
Now it’s time to get onto your competition - again, you probably have a good idea as to who these are. If you don’t, you can probably find them online by Googling your industry/niche and adding Ireland to the end of it - so something like “tote bags ireland” or “barista coffee roasters Ireland” - that’ll give you a few competitors.
Bear in mind, you don’t have to do an analysis of them, you just need to list them. Given all of that, then this is what I would have this part of the application look like for my cushion business:
Competitor 1: [Name of Competitor] - [Website Link]
- Description: Specializes in eco-friendly home decor, offering a range of products including cushions.
Competitor 2: [Name of Competitor] - [Website Link]
- Description: An online retailer focused on sustainable living products, with a notable selection of organic fabric cushions.
Competitor 3: [Name of Competitor] - [Website Link]
- Description: A lifestyle brand offering a variety of home accessories with an emphasis on green materials.
The final part of this page of the application is the ‘Scope of Work to be Carried Out’.
This is your opportunity to explain what the deliverables of the project will be. So if you’re getting a new website built, then that will be the deliverable. If you’re having a social media campaign built for you then the deliverable would be something like a social media calendar and all associated content.
For our cushion business, this section looks like this:
The scope of work for our online trading project includes several key components:
- Development of an eCommerce website: Designing a user-friendly, visually appealing online store with secure payment gateways.
- Product Photography: High-quality images of our cushion range to showcase on the website.
- Content Creation: Producing engaging, informative content about our products and sustainable practices.
- SEO Implementation: Optimising our website for search engines to increase visibility and attract targeted traffic.
- Social Media Integration: Setting up and integrating social media platforms to enhance customer engagement and drive traffic to the website.
- Packaging and Logistics: Establishing eco-friendly packaging solutions and efficient logistics for product delivery.
This comprehensive approach ensures not only the establishment of a robust online presence but also the promotion of our sustainable ethos at every touchpoint with our customers.
On to the next page.
This page is looking at the resources of the business from a few different perspectives - what you’re bringing to the table, what you need brought to the table, and other assets you already have.
For the Internal Resources brought to the project section, it’s probably best to categorise these as both physical and non-physical. What do I mean by that? Look at what I’ve drafted for our example:
Internally, our business brings a blend of physical and non-physical resources. Physically, we have office space that can be used for managing the online store and handling inventory. We own basic computing equipment essential for day-to-day digital operations. Non-physically, our team contributes expertise in sustainable product design, digital content creation, and customer engagement. Our founder's experience in e-commerce and digital marketing is a key asset.
Because what you own and are bringing to the project will likely fall into these two categories, then this will probably work for you too.
Next up, the external resources. This can focus on existing relationships, agreements, suppliers, etc that you already have. For our cushions, it might look something like this:
Our business currently leverages several external resources that will be instrumental in this project. We have established relationships with local organic material suppliers, ensuring a consistent and sustainable supply chain for our cushion products. Additionally, we're in collaboration with a local craft guild, which provides access to artisanal skills and knowledge, crucial for our handmade products. We also have existing ties with a small logistics company, experienced in handling delicate items, which will be vital for shipping our cushions safely and efficiently. Furthermore, we regularly engage with a community of eco-conscious consumers and businesses through local markets and environmental events, offering valuable networks for marketing and customer feedback.
Following that, there’s an opportunity to provide the existing assets that you’re bringing along. Again, depending on the type of business you run, this could take several forms. Lets see what our cushion business version of this looks like:
We possess a basic website and social media presence that can be enhanced for the project. Our existing inventory of organic cushions and related products provides a ready-to-sell range for the online store. Additionally, our customer database, built from previous engagements, is a valuable asset for targeted marketing.
Now onto the really fun stuff - the financial projections! So, at this point in time, you should know what kind of money you’re bringing in, so hopefully this section won’t be too difficult.
The first section asks us about the impact trading online will have on the business in terms of employment, revenue and the ability to export. We’re also asked to consider how this project will help grow our revenues, increase our ability to export goods, and gain back market share. Lots to think about here. I’ll show you what I’ve got for our little example:
Transitioning to online trading will significantly increase our revenue by reaching wider markets, including potential international customers interested in eco-friendly products. We anticipate a 40% rise in sales in the first year, with a sustained increase thereafter. This expansion will create new employment opportunities in customer service and digital marketing, supporting local economic growth.
The online platform will greatly enhance our export capabilities, allowing us to tap into global markets, particularly in the EU and North America. This aligns with our goal to increase revenue and diversify our customer base.
Moreover, by offering an online shopping experience, we can effectively compete with larger retailers, reclaiming and expanding our market share. Our unique organic cushions, combined with the convenience of online shopping, will attract eco-conscious consumers, further driving sales and market presence.
So, there you have it!
The rest of the application is information that you’d have to hand. So you’d need to know about your turnover - what it is currently, and what the next 12 and 24 months would look like.
You’ll also need to consider your staff numbers form the same perspective.
After that it’s just a box-checking exercise for what type of project you need support for and then the quote information you got from potential suppliers. I won’t bore you with what that would look like and there’s no point me running through the exercise doing it as it’s boring!
All that being said, maybe you have a few more questions on how to fill out the form - here’s the other things that I could think of that will be probably be helpful on your way:
How do I fill out the form accurately?
-
Hopefully this guide will give you some concrete ways on how to fill it out and get you thinking on how you’d explain your business.
-
Be meticulous and careful when filling it out. LEO has to look through these regularly, make their job easier by dotting your i’s and crossing your t’s!
-
Be careful not to have any typos or grammatical errors - use a tool like Grammarly to help you.
-
A really cool tip that will help you think about your business - have ChatGPT interview about your business to help solidify your answers. It’s a great assistant to help brainstorm ideas and ways of explaining yourself that you might not have thought of by yourself.
Gather all relevant evidence and information before you start the application
-
Get your quotes together
-
Have your numbers all done out and to hand
-
Give yourself an hour or so to fill out the form
-
Go slowly, don’t rush.
Hopefully you’ve found this helpful - I’ve tried to cover what you need to know from a few different perspectives. If you need help with the form or any of the services that you might be able to avail of with the TOV, then let me know, I'm happy to help you out. Other than that, all the best with your application and happy trading online!
