NO funding from the Increased Cost of Business (ICOB) scheme has been paid out to businesses in the Cork County Council area, according to a European elections candidate.
The €257m scheme is intended to give help to small and medium businesses to deal with increased running costs, with one-time financial aid. The grant is based on the value of the Commercial Rates bill received by an eligible business in 2023.
The deadline to register was May 29th.
Sinn Féin candidate for Ireland South, Senator Paul Gavan said it is ‘absolutely woeful’ that not a single cent of the funding has been paid out to businesses in the Council area operating under increasingly difficult conditions and increased costs.
‘It’s a big government failure,’ Sen Gavan said. ‘The ICOB scheme has been bogged down with delays, confusion and incompetence. No wonder when it closed on April 30th, less than half of qualifying businesses had applied for the support. Sinn Féin pushed the Minister for Enterprise to reopen the scheme so hard pressed business could apply for the
relief.
‘Not only have many businesses not been able to apply, but firms who have applied have not had their applications processed and thousands of approved businesses have not received any money to date.
‘Businesses in Co Cork are paying the price for government incompetence for a scheme that was established six months ago. Struggling businesses in County Cork need this money and it should be released to all approved businesses immediately.’
