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Businesses urged to apply for Increased Cost of Business grant ahead of May 1st deadline

Minister for Enterprise, Trade and Employment Peter Burke TD, Minister of State for Trade Promotion and Digital and Company Regulation Dara Calleary TD and Minister of State for Business, Employment and Retail Emer Higgins TD, are urging all eligible businesses to register for the Increased Cost of Business (ICOB) grant ahead of tomorrow’s deadline (1 May).

Funding of €257 million was announced in Budget 2024 for the grant as a vital measure for small and medium businesses to meet increased costs. Eligible businesses will receive a once-off grant payment with the amount payable based on the value of the Commercial Rates paid by the business in 2023.

Minister Burke said:

“Tomorrow (1st May) is the final day to register for the Increased Cost of Business grant.  It is a very simple process and takes about two minutes to complete. Local authorities have contacted businesses with a customer number and PIN. Just log on to the portal and register these details, your self-declaration and bank details and take up this offer of practical financial assistance.”

Minister Calleary said:

“With May 1st marking the deadline for registering for this grant I would advise all qualifying businesses to make sure they register so that they can receive the significant financial assistance available.  The registration process could not be simpler and once completed the money will be lodged to the business’s bank account. The help is there so please make sure to avail of it.”

Minister Higgins, said:

“The Increased Cost of Business grant is specifically targeted at helping businesses to meet increased costs. I would encourage all business owners who qualify to take a couple of minutes to register for the grant. With up to €5,000 available, this money can make a real difference to your business. Make sure to take the time to register before the deadline.”

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