Increased Cost of Business Grant Available for Small & Medium Sized Businesses

As part of Budget 2024, the Government signed off on a package of €257m for the Increased Cost of Business (ICOB) Grant as a vital measure for small and medium businesses. This initiative is funded by the Department of Enterprise, Trade & Employment.

The grant is available to qualifying businesses as a contribution towards the rising costs faced by businesses and is based on the value of your Commercial Rates bill from 2023. However, it is not a Commercial Rates waiver and businesses should continue to pay their Commercial Rates bill as normal.

For qualifying businesses with a 2023 Commercial Rate bill of less than €10,000, the ICOB grant will be paid at a rate of 50% of the business’s Commercial Rate bill for 2023 and for qualifying businesses with a 2023 Commercial Rate bill of between €10,000 and €30,000, the ICOB grant will be €5,000.

Eligible businesses will receive a once-off grant payment.

Click here to check the portal for the criteria and see if your business qualifies.

Don’t miss out on this vital support for small and medium businesses! Register as soon as possible to avail of this grant. Payments will commence from late April 2024. Deadline for registration is May 29th.