New Cost of Business Scheme opens in Offaly

Fine Gael Cllr John Clendennen has welcomed the launch of the new online portal for small businesses across Offaly to apply for the Increased Cost of Business Scheme.

Businesses are invited to click on the link to register for the scheme. The grant is targeted at small and medium businesses operating directly within a premises that is commercially rateable by Offaly County Council. It is a once-off grant aid provision and will have no bearing on the commercial rates paid by any business.

"As a small business owner, I am acutely aware of the challenges facing the SME sector. This initiative from Minister Simon Coveney is a welcome step to provide stimulus to the sector as a direct injection of support to cash-flow. It is a support scheme which complements a suite of measures offered through the Local Enterprise Office," according to Cllr Clendennen.

The grant is intended to be paid at a rate of half the enterprise’s commercial rates bill in 2023, for firms paying up to €10,000 in rates. For those paying between €10,000 and €30,000 in rates, they will receive a grant of €5,000. No grant will be available for businesses paying more than €30,000.

"The deadline for businesses to confirm eligibility and upload verification details is May 1, and prompt registration will expedite payment, which will commence late in April. It is important that government continue to engage with the sector to ensure any further such cash-flow stimulus supports are provided in a timely manner, particularly considering the ongoing challenges encountered by small businesses,’" concluded Cllr Clendennen.