Friday 4 October 2024
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Contact Details T: 086 8903154 Email : johnpaul.oshea@cllr.corkcoco.ie

A Further €5m Paid out in Government Business Grants in Cork County

A Further €5m Paid out in Government Business Grants in Cork County

This is in addition to the first round of the Increased Cost of Business Grant issued earlier this year, bringing the total for Cork County to €14.6m

Cork North West Fine Gael General Election Candidate Cllr. John Paul O’Shea has welcomed the news that a second round of business grants has now issued to over 2,700 businesses in Cork County.

“I was delighted to be informed by my Fine Gael colleague Minister Peter Burke that a second round of the Increased Cost of Business grant has now been paid directly into businesses’ bank accounts in county Cork.

“Retail and hospitality businesses have been issued with a second payment, in recognition of the cost pressures many are under.  Research commissioned by Minister Burke has highlighted that these types of businesses have faced the highest rate of cost increases, and the Government under our new Taoiseach Simon Harris, has now responded by providing a second payment of up to €5,000 per business.

Cllr. O’Shea added:

“I know that many of our small and medium-sized businesses across Cork County need support, in light of rising energy costs, staff costs and other pinch points.  I have raised these issues with Minister Burke, who understands these pressures, and is preparing budget proposals with this in mind.

“The first round of the Increased Cost of Business grant was paid earlier this year to all businesses in rateable premises, amounting to half of their commercial rates bill to a maximum of €5,000. Now a second payment has been made, targeted to retail and hospitality, so that these businesses have had the value of their full rates bill hit their bank accounts.  A total of €14.6m has now been issued to businesses in Cork County, and I know that this money will be valued by many small businesses locally.

Minister for Enterprise, Trade and Employment Peter Burke said:

“We have now paid out over €226 million to 81,592 businesses nationwide, with a double payment issued to businesses in hospitality and retail.  While the payment cannot offset the total cost increases experienced by businesses, it is targeted government support for the businesses that need it most.  The grant is only available to small and medium sized businesses whose rates bill is under €30,000, again targeted relief for our family businesses who are the backbone of our economy.

“I know from meeting businesses up and down this country, from Bandon to Ballinasloe, Sligo to Sixmilebridge, support for our SME sector is needed and with the full backing of Taoiseach Simon Harris, I plan to continue to provide this support. 

Minister of State for Business, Employment and Retail Emer Higgins said:

“We have brought forward a number of new measures since April, including further supports being made available through our network of Local Enterprise Offices and a new platform for businesses to check which grants and supports they are entitled to; neh.gov.ie.  Fine Gael will continue to support our SMEs as we head into our negotiations for Budget 2025”.