ALMOST €400m in grant support has been paid to small and medium-sized businesses in 2024, with €154m paid out in the last month, the Dept of Enterprise, Trade and Employment said.
Minister for Enterprise Trade and Employment Peter Burke said that €154m was paid out under the ‘Power Up’ grant.
The scheme were administered by local authorities including Cork County Council with the aim of helping with the increased costs associated with running a business.
The Power Up Grant, announced as part of Budget 2025, has been paid out to 38,500 businesses over the last four weeks.
Meanwhile €244m has been paid out under the Increased Cost of Business Scheme (ICOB) during the summer to more than 75,000 businesses, including a double payment for businesses in the retail, hospitality and beauty sectors.
‘The Increased Cost of Business scheme and the Power Up grant have been hugely successful this year,’ said Minister Burke.
‘This is a significant amount of money that has been directly targeted at SMEs and has benefitted thousands of small, family-run businesses.’
Minister of State for Trade Promotion, Digital Transformation and Company Regulation Dara Calleary said getting supports to small and medium sized businesses across the country in the run up to the Christmas trading period was a priority ‘especially in the face of rising costs’.
