Increased Cost of Business grant open for registration

The Increased Cost of Business (ICOB) grant is currently open for registration for eligible businesses.

As part of Budget 2024, the Irish Government signed off on a package of €257m for the ICOB grant, which aims to be vital measure for small and medium-sized businesses.

Local authorities, funded through the Department of Enterprise, Trade and Employment, are managing the rollout of the grant to qualifying businesses, and are writing to rate payers with details of registration.

Eligible businesses will receive a once-off grant payment as a contribution towards the rising costs faced by businesses. It is not a commercial rates waiver, and businesses should continue to pay their rates bill as normal.

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 rates bill of less than €10,000, the ICOB grant will be paid at a rate of 50% of the business’s bill for 2023.

For qualifying businesses with a 2023 commercial rates 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.

The online system to manage the application for the grant is now open and the closing date for businesses to confirm eligibility and upload verification details is 1 May 2024.