The support scheme for small to medium-sized businesses, announced in Budget 2024, will come through local authorities, according to Minister for Enterprise, Trade, and Employment, Simon Coveney. The scheme will be based on the rates these businesses paid in 2023 and is open to those with a rates bill of up to €20,000.
Unlike a rates rebate scheme, this initiative will be a grant aid scheme. Businesses will be able to claim up to half of their rates bill from 2023. Mr. Coveney revealed that the grants will be automatically paid to businesses in the first quarter of the next year, and there will be no need for businesses to submit an application.
Eligible businesses can receive a maximum grant equivalent to half of their rates bill in 2023. This support is available for companies with rates bills up to €20,000.
Minister Coveney said approximately 130,000 businesses will qualify for this assistance.
“The implementation of this support scheme through local authorities aims to provide direct relief to smaller businesses and reduce administrative burdens for applicants. The government’s initiative intends to bolster these enterprises, helping them navigate the challenging economic landscape and contribute to the recovery and growth of Ireland’s economy.”
