Increased Cost of Business grant registration deadline fast approaching
The Increased Cost of Business grant is open for registration, with a deadline for applications set at May 01, 2024.
Background
As part of Budget 2024, the government signed off on a package of €257 million for the Increased Cost of Business (ICOB) grant as a vital measure for small and medium businesses. Locally, Clare County Council, funded through the Department of Enterprise, Trade and Employment (DETE) will manage the rollout of the grant to qualifying businesses.
By now commercial rate payers should have received details of registration and a Pin number from Clare County Council.
Eligibility
Eligible businesses will receive a once-off grant payment as a contribution towards the rising costs faced by businesses. The grant is based on the value of the Commercial Rates bill received by an eligible business in 2023.
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.
For qualifying businesses with a 2023 Commercial Rate bill of between €10,000 and €30,000, the ICOB grant will be €5,000.
Businesses with a 2023 Commercial Rates bill greater than €30,000 are not eligible to receive an ICOB grant.
Applications
The online system to manage the online application for the grant is now open, and the closing date for businesses to confirm eligibility and upload verification details is 1 May 2024.
For more information visit icob.ie.
