Micro-credit brings organic growth to Ireland
Access to credit for SMEs can still prove a major hurdle, but it needn’t! As one Irish entrepreneur has discovered, there are always solutions, you just need to know where to look.
In 2008, Darren Grant decided to follow his dream and start up his own business, the Organic Supermarket, dealing in 100% organic food products in Dublin. But like many SME start-ups, he needed funds, and with a bit of targeted research...bingo!
Darren discovered he could access up to €25 000, as a new business employing up to 10 people, money allocated through intermediaries for the European Investment Fund.
Darren contacted one such intermediary, Irish micro-finance website First-Step, and was able to get €25 000 to start his business. Today, Darren’s shop and internet site has become a runaway success, including best internet site for a small business in Ireland in 2010 and 2011.
“The website was the best investment for the company, and the return we have got ahead of the investment will be maybe 25 times what we have invested,” explained Darren “a micro-finance start-up has competed with major multi-nationals in this field. We have become leader in the website field.”
Darren now employs eight people, has a registered trademark all over Europe and soon hopes to expand his online activity into the UK. The keys to his success, he explained, “are to be able to secure finance for expansion, keep our website dynamic and innovative, and to expand our products within Europe”.
- Micro credit brings organic growth - watch the video
- Check out the Access to Finance website
- Your Europe - doing business in Europe