EIIS a good source of start-up funding

The EII scheme builds on the BES and has broader parameters, writes Elaine O'Regan.

The revamped version of the Business Expansion Scheme is available to a much wider range of companies, including retail, agriculture and recycling firms. Photo: Thinkstock

The Employment and Investment Incentive Scheme (EIIS) can offer healthy start-ups a viable route to early-stage funding.

The scheme is essentially a revamped version of the Business Expansion Scheme, which was introduced in 2007 to allow investors in certain sectors to obtain income tax relief on their investments.

Announced in the 2010 budget, the EIIS secured EU approval last November and came into effect the following month on budget day.

According to Elliott ...