Budget 2024

€250m business support scheme to fall short of rising wage bills

Internal industry research shows many small businesses won’t be eligible for new scheme designed to help with rising minimum wage costs

An industry survey of nearly 200 businesses conducted by Isme and seen by the Business Post, shows more than half of respondents said they do not meet the criteria set down in the Increased Cost of Business scheme and therefore cannot claim grants

A new scheme to help SMEs with increased operating costs will fall significantly short of covering planned increases in the minimum wage, according to research conducted by Isme, a representative body for small and medium-sized firms.

In response to the new ‘Increased Cost of Business’ scheme, which was unveiled last week as part of Budget 2024 and will provide €250 million in once-off grants to small firms, hundreds of SMEs have said it will not ...