A GRANT scheme targeting under-pressure businesses will provide welcome relief to ‘the heart of our towns and communities’ in West Cork, a local senator said.
Business in West Cork will receive grant payments of up to €5,000 under a measure from the Department of Enterprise, Trade, and Employment being rolled out this month. The Increased Cost of Business (ICOB) grant was one of the measures to support businesses announced in Budget 2024, and details have now been made available.
The ICOB grant is a one-off payment will be administered by Cork County Council. Businesses will receive a letter from the local authority after March 12th with details including how to register and how to confirm bank details. The payment will be made directly into bank accounts in April. ‘The ICOB grant is a targeted refund to businesses who are rate payers and more than 143,000 businesses across the country will receive €257m in once-of grants from the increased cost of business (ICOB) scheme in the coming weeks,’ said Sen Tim Lombard (FG).
‘The grant will provide a welcome relief and a cash injection to the shops, cafés, and small businesses which are at the heart of our towns and communities,’ he added.
Businesses who paid between €1 and €10,000 in rates in 2023 will receive half of their payment back (ie if you paid €4,000, you’ll get €,2000 back, If you paid €8,000, you’ll get €4,000 back, etc).
Businesses who paid between €10,000-€30,000 in rates will receive a flat grant payment of €5,000 back.
Further information is available at localenterprise.ie.
