Niamh Smyth
Ceist:135. Deputy Niamh Smyth asked the Minister for Enterprise, Trade and Employment the supports available for a sole trader (details supplied) to deal with rates; and what grants are available to them. [19906/24]
Amharc ar fhreagraWednesday, 1 May 2024
Ceisteanna (135)
Freagraí scríofa
This Government is committed to backing business and will continue to work closely with small businesses nationwide to support their growth and assist them in remaining competitive and resilient.
As you are aware the ICOB grant has a budget of €257 million which is designed to assist small and medium businesses operating directly within a premises that is commercially rateable by a Local Authority. The Increased Cost of Business Grant (ICOB) introduced by my department in March this year sought to assist businesses in tackling the increased costs by offering a reduction in their commercial rates bill based on their returns for 2023.
In relation to your specific query, the individual who pays rates to their Local Authority should engage directly with them to confirm their eligibility as the Local Authorities are administering the grant. All businesses must verify through self-declaration their eligibility to the Local Authority on the basis of satisfying the following conditions:
The business is rates compliant including those businesses with a phased payment arrangement in place with the Local Authority and that it is up-to-date as determined by the Local Authority;
The business is a commercially trading business operating directly within a premises that is commercially rateable by a Local Authority;
Vacant premises would not qualify for the scheme;
The business has provided confirmation of its bank details to the respective Local Authority;
The business is tax compliant, and in possession of a valid Tax Registration Number.
No grant aid will be provided for businesses paying more than €30,000 in rates.
Please note the closing date for the grant is midnight on 1 May, 2024 and I would urge all eligible businesses to apply before this date. Further details are available at www.icob.ie. Registration is easy and I am informed that payments to eligible businesses have commenced as of last week.
Any business owner or manager who wishes to learn more about other supports and assistance that is available across all government bodies should first speak to their Local Enterprise Office. The 31 Local Enterprise Offices (LEOs) play an extremely important role providing assistance directly to micro, small and medium sized businesses as well as promoting entrepreneurship within towns and communities across the country.
LEOs are the ‘first stop shop’ at a local level providing expert advice and guidance, financial assistance, and offer a ‘signposting’ service for all Government supports available to business owners throughout the country.
LEOs focus on how the Lean, Green and Digital products can help businesses to save time, money, and energy. These are available to all businesses and seeks to identify areas within a business that can be improved to provide cost savings, reduce waste and increase efficiencies.
Supports for digitalisation include the Trading Online Voucher scheme (TOVs), which is open to established businesses with up to 10 employees across a range of sectors. TOVs help businesses develop their online trading capability and include training sessions that cover various topics, such as website development, digital marketing, social media for business and search engine optimisation.
The Energy Efficiency Grant supports the investment in technologies and equipment of enterprises following a Green for Micro Report, GreenStart Report or a SEAI Energy Audit with 50% of eligible costs up to a maximum grant of €5,000. The aim of the scheme is to reduce the impact of enterprises on the environment thereby increasing the agility and resilience of these businesses. Funding will be in the form of a grant. The grant aid will be 50% of eligible costs from a minimum grant aid of €1,000 up to a maximum grant of €5,000 per application. There is a limit of 1 grant approval per enterprise.
This will help these businesses to reduce their carbon emissions and overall energy costs by accelerating the adoption of low carbon technologies or processes and an enhanced grant for hospitality and retail is now available.
LEOs can also provide a referral to Micro Finance Ireland (MFI), which is a not for profit lender that offers small business loans of between €2,000 and €25,000 (unsecured). Loans for commercially viable proposals can be used to help fund start-up costs, working capital or business expansion and by applying through their Local Enterprise Office, clients can avail of a 1% reduction in the interest rate charged.
I would strongly recommend speaking to a Business advisor in a Local Enterprise Office as they have the experience and knowledge to help businesses. Details on Local Enterprise Office locations can be found on www.localenterprise.ie.