Dáil Éireann Debate, Thursday - 24 October 2024
69. Deputy Jennifer Murnane O'Connor asked the Minister for Enterprise, Trade and Employment how many businesses in each of Carlow and Kilkenny will be eligible for the power up grant announced in Budget 2025; and if he will make a statement on the matter. [43433/24]
View answerI recognise that businesses operating in the retail and hospitality sectors continue to face higher costs with running their business, that is why I announced the Power Up Grant as part of Budget 2025. The Power Up grant has a budget of €170m.
This grant builds on the success of the Increased Cost of Business Scheme which has delivered €244m to date to businesses to 75,000 SMEs, including over 38,000 SMEs in the retail and hospitality sectors.
Under the Power Up Grant, those retail and hospitality businesses that received a second payment as part of the Increased Cost of Business Scheme and continue to meet the eligibility criteria are in line to receive a grant of €4,000. Business in the hospitality and retail sectors that received their first rates bill in 2024 may also be eligible. Officials in my Department are currently working on finalising details and implementation of the scheme.
In relation to your specific query regarding Carlow and Kilkenny please note that :
514 Carlow businesses have received the second ICOB payment and may be eligible to register for the Power Up Grant.
804 Kilkenny businesses have received the second ICOB payment and may eligible to register for the Power Up Grant.
The Local Authorities are administering the scheme on behalf of my Department and the relevant businesses will receive an email from the relevant local authority with details on how to register for this grant. Eligible businesses should register for the grant as soon as possible once the scheme goes live.
