Dáil Éireann Debate, Wednesday - 22 January 2025
448. Deputy Mattie McGrath asked the Minister for Enterprise, Trade and Employment if he intends to re-open the Power Up grant; the number of businesses who were awarded funds under the scheme; if the number of applications met anticipated levels; the number of applicants from Tipperary; the number of refused applications; the reasons for refusal; and if he will make a statement on the matter. [1714/25]
View answerIn total, the Increased Cost of Business (ICOB) and Power Up grant schemes paid out over €400 million to small businesses in 2024. Both schemes are now closed following extensions to the original closing dates. The ICOB scheme closed on 29th May 2024 and the Power Up grant closed on 22nd November 2024.
To date, over 39,000 businesses have received €156.7 million under the Power Up grant. This followed €244m that was paid to over 75,000 businesses under the ICOB scheme in 2024, including a double payment for businesses in the retail, hospitality and beauty sectors.
Specifically in relation to Tipperary, 1846 businesses registered for Power Up, with 1805 receiving the grant. There are a number of factors that would deem an business ineligible for the power up grant. For example, a business might not be classified in the hospitality, retail and beauty sectors or may not have received two ICOB payments. A business might also be in arrears in its rates payments or may not be the ratepayer for the property.
My Department is aware of issues that arose during the registration period, in particular, in relation to businesses that were ineligible for the grant due to incorrect classification of their business type while registering for ICOB. The Department is currently reviewing the issues that have arisen and will consider next steps in consultation with the Department of Public Expenditure, National Development Plan Delivery and Reform and the local authorities.
