Is Your Business Eligible for the Enhanced Business Support Grant?

As part of Budget 2024, the Government signed off on a €257m package for the Increased Cost of Business (ICOB) Grant, a vital measure for small and medium businesses.

Local Councils will manage the rollout of the grant to qualifying businesses, funded by the Department of Enterprise, Trade, and Employment.

Eligible businesses will receive a once-off grant payment. The grant amount payable to eligible businesses is based on the value of the Commercial Rates bill the business received in 2023. However, it is not a Commercial Rates waiver, and businesses should continue to pay their Commercial Rates bill as normal.

What is the purpose of the grant?

  • The grant is available to qualifying businesses as a contribution to their rising costs. The grant is intended to aid businesses but is not intended to directly compensate for all increases in wages or other costs for every business.

Grant Details:

  • Grants are 50% of the 2023 Commercial Rates bill for businesses billed under €10,000; a flat €5,000 for those billed between €10,000 and €30,000. Businesses billed over €30,000 do not qualify.

Criteria:

  • Businesses must be commercially active, operating in a rateable property, and plan to continue for at least three months from February 1, 2024.
  • Applicants must provide bank details and be compliant with rates and taxes.

An online application platform is coming in mid-March, with a May 1, 2024, deadline for submissions. Each county council will write directly to business paying commercial rates in their area, advising how to register and submit the necessary information through the online platform.

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