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Increased Cost of Business Grants now available

Increased Cost of Business Grant now available

The Increased Cost of Business (ICOB) Grant, designed to assist businesses facing rising costs, is now available for qualifying businesses. The grant is a contribution towards the rising costs faced by businesses and is based on the value of a business’ Commercial Rates Bill in 2023.

Applications for the grant can be completed through an online system. The closing date for applications and to confirm eligibility is 1 May 2024.

How much is the grant?

• For qualifying businesses with a 2023 Commercial Rate bill of <€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 the grant.

What businesses are eligible to receive the grant?

• Must be a commercially trading business currently operating from a property that is commercially rateable.

• Business must have been trading on 1 February 2024 and you must intend to continue trading for at least three months from the date you verify your information.

• Must provide confirmation of your bank details.

• Business must be rates compliant. Businesses in performing payment plans may be deemed to be compliant.

• Business must be tax compliant and must possess a valid Tax Registration Number.

For further details on the grant, please visit: https://tinyurl.com/2s37h6dc