SMEs

Two thirds of SMEs yet to apply for business cost grant ahead of May 1 deadline

Eligible firms receive a once-off payment to offset the increased cost of doing business

Cavan has seen the lowest level of uptake of the grant, administered by local authorities, with just over a fifth of eligible firms applying. Picture: Getty Images

A mere third of firms eligible for the government’s business costs support scheme have applied, just over a week before the deadline.

Out of the 120,531 SMEs estimated to be eligible for the Increased Cost of Business (ICOB) grant, just 40,581 had made an application before the May 1 deadline, according to figures from the Department of Enterprise.

The roll-out of the €257 million scheme, announced in October as part of Budget 2024, is being ...