Dáil Éireann Debate, Thursday - 1 May 2025
48. Deputy Tony McCormack asked the Minister for Enterprise, Trade and Employment if he will provide an update on the roll out of the power up and increased cost of business grant schemes, including the level of uptake by businesses in County Offaly; any plans to expand or adapt these supports to meet local enterprise needs; and if he will make a statement on the matter. [21570/25]
View answerThe Increased Cost of Business scheme was introduced in March 2024 and the Power Up grant was introduced in October 2024. Both schemes are now closed, however, in total, €400 million in grant aid was successfully paid to SMEs right across the country in 2024 under these grants.
Specifically in relation to County Offaly, 614 businesses registered for the Power Up grant, 608 businesses were approved and received payments to the value of €2.4 million.
In relation to the ICOB grant 1080 businesses received the first ICOB payment and 625 received a second payment, giving a total grant value of over €2.6m.
As I have previously outlined, my Department is aware of issues that have arisen during the registration period, in relation to businesses that were ineligible for the grant due to incorrect classification of their business type while registering for ICOB. In order to address this, we are now proposing to open an appeals process that will give those businesses in the retail, hospitality and beauty sectors that were not eligible for ICOB and the Power Up grant because of the misclassification issue, an opportunity to register for those grants. This is not a re-opening of those grant schemes, rather this is designed to allow those who originally misclassified their business sector an opportunity to register for the grants.
