Cllr. John Paul O’Shea says the grant will be a major support for SMEs
The €4000 Power Up grant is set to benefit up to 3,285 businesses in Cork County, assisting hospitality and retail SMEs with high energy costs, Cork North-West Fine Gael General Election Candidate Cllr. John Paul O’Shea has said.
The Power Up grant was announced in Budget 2025 by Fine Gael Minister for Enterprise Peter Burke and will support over 39,000 businesses nationwide.
Cllr. O’Shea said: “Hospitality and retail businesses are the lifeblood of Cork’s towns and villages, and I recognise the challenges and high costs they are currently facing.
“Registration details for the Power Up grant will be confirmed in the coming weeks and communicated to businesses.
“It will be a major help for these businesses, and I am delighted that 3,285 businesses in Cork County will be eligible to register for the grant, representing a total of up to €13,140,000 to be paid out in Cork County.
“The grant has a national budget of €170m and builds upon the success of the Increased Cost of Business (ICOB) scheme which has paid out over €242m in the last six months.
“Arriving before Christmas, I know that the Power Up grant will be a much welcome payment, with any Cork County business who received two payments under ICOB eligible to register.
“This comes alongside other important supports for small businesses in Budget 2025, secured by my colleague Minister Peter Burke, including an enhanced staff training fund, changes to start-up tax relief, increased VAT thresholds, postponement of autoenrollment and sick day increases, and much more.
“Small and family-run businesses provide significant employment and economic activity across Cork County and are pillars of our communities. Fine Gael will continue to advocate for their continued success.
“I look forward to hearing further details of the Power Up grant and to engaging with Cork County businesses to hear their views and concerns on how government can further support them,” Cllr. O’Shea concluded.
