Neale Richmond (Dublin Rathdown, Fine Gael)
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The purpose of the Emergency Humanitarian Flood Relief Scheme administered by the Department of Enterprise, Trade and Employment is to provide urgent funding to small businesses (up to 20 employees), community and voluntary organisations affected by flooding who were unable, through no fault of their own, to secure flood insurance.The Scheme provides a contribution towards the costs of returning such premises to their pre-flood condition including the replacement of flooring, fixtures and fittings and damaged stock where relevant.

The Irish Red Cross paid out a total of €3,300,428.18 in 2023 on behalf of my Department in respect of 3 severe weather events.

1. Severe weather event in Co Kerry and Co Wexford during the period 17th June 2023 to 26th June 2023.
2. Severe weather event in Co Donegal in July 2023
3. Storm Babet and Storm Debi during the month of October and November 2023, affecting Counties Cork, Wexford, Waterford, Limerick, Kilkenny and Louth.

David Stanton (Cork East, Fine Gael)
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174. To ask the Minister for Enterprise, Trade and Employment the current supports for small business available from his Department or from agencies under the aegis of his Department; and if he will make a statement on the matter. [2132/24]

Neale Richmond (Dublin Rathdown, Fine Gael)
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This Government and my Department are fully committed in advancing the interests of SMEs in Ireland. The White Paper on Enterprise sets out an ambitious vision for Ireland’s enterprise policy, to protect Ireland’s strong economic position, and respond to challenges and opportunities that have emerged because of the pandemic, wider economic and geo-political developments, digitalisation, and an increased urgency to decarbonise industry. More recently, there were a number of initiatives introduced in Budget 2024 that will help support businesses in the challenges they face.

Enterprise Ireland supports Irish SMEs in the development of global markets through a comprehensive range of supports. The support offered by EI vary from direct financial assistance through grants, loans, and equity investments, to Market Research and export development assistance, from funding and mentoring for Innovation and Research through to international Trade missions and Market Access opportunities.

The Local Enterprise Offices (LEOs) are the ‘first-stop-shop’ providing a signposting service for all Government supports available to SMEs and can provide information/referrals to other relevant bodies under agreed protocols e.g. Revenue, Micro Finance Ireland, Fáilte Ireland, LEADER, and Enterprise Ireland.

The LEOs can provide financial assistance to small businesses operating within the manufacturing and internationally traded services sectors. LEOs grant assistance is available the within four main categories, following the LEO Lifecycle of Pre-Start, Start, Grow and Exporting: Feasibility Grants, Priming Grants, Business Expansions Grants, Technical Assistance for Micro Exporters (TAME).

The LEOs also offer a wide range of high-quality business and management development programmes that are tailored to meet specific business requirements. Whether it is a new start up or growing an existing business there are programmes that are suitable for small

LEOs can also assist businesses owners with applications 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 LEO, clients can avail of a 1% reduction in the interest rate charged.

Along with financial, training and mentoring supports the LEOs also run a range of initiatives across the year to increase awareness of their supports and to foster entrepreneurship nationwide. These include Local Enterprise Week, The National Enterprise Awards, National Women’s Enterprise Day, The Student Enterprise Programme, Local Enterprise Showcase @ Showcase in the RDS, The Local Enterprise Village @ the Ploughing Championships.

My Department has secured €250 m for the Increased Cost of Business Scheme in Budget 2024 which will will be available to SMEs who pay commercial rates to their Local Authorities, and will provide targeted refunds to around 130,000 micro and small businesses, accounting for 87% of rated businesses.

Other measures such as the new targeted Angel Investment Scheme will introduce a reduced Capital Gains Tax Rate to 16%, promoting innovation for angel investors investing in ‘innovative’ SMEs. The increase in the Research and Development tax credit to 30% and the increase in the payment threshold to €50,000, aiming to encourage investment in R&D by both large and small companies.

Finally, the new National Enterprise Hub which will include a dedicated website and phone line to Hub Advisors, developed by Enterprise Ireland, this will help businesses to navigate the comprehensive suite of supports that are being offered to business throughout Ireland. Work is currently underway on the development of this Hub.

David Stanton (Cork East, Fine Gael)
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175. To ask the Minister for Enterprise, Trade and Employment the way the increased cost of business grant will be implemented; when he expects first payments to be made; and if he will make a statement on the matter. [2142/24]

Simon Coveney (Cork South Central, Fine Gael)
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The Increased Cost of Business (ICOB) grant was announced as part of the Budget 2024 package and will be particularly targeted at Small and Medium sized businesses who operate from a rateable premises. Firms who do not have a rateable premises are not within the scope of this scheme. The total allocation for the ICOB grant is €257m.

Officials in my Department are currently working with the Local Authorities on the administration of the Increased Cost of Business grant to ensure that support can be provided in early 2024.

It will be administered by Local Authorities and it is intended that the grant will be provided to qualifying premises in the first quarter of this year. It is not intended that there be a formal application process, rather it is intended that the business will be contacted directly by the local authorities.

The administration of the Increased Cost of Business Grant (ICOB) will be undertaken in accordance with a Service Level Agreement (SLA) between the Department of Enterprise, Trade and Employment and the Local Authorities to underpin the operation of this scheme. This SLA will cover the delivery, funding and oversight arrangements for the grant scheme. The details of this SLA are currently being progressed with the Local Authorities.

To ensure that the smallest firms see the greatest benefit, the grant will be paid at a rate of half the enterprise’s 2023 commercial rates bill, for firms paying up to €10,000 in rates. For those paying between €10,000 and €30,000 in rates, they will receive a grant of €5,000. This further ensures that smaller premises receive a higher proportional grant.

Eligibility for the ICOB grant will be assessed on the basis of an applicant satisfying a minimum of the below conditions:

• The business is a commercially trading business operating directly within a premises that is commercially rateable by a Local Authority.
• The business has provided confirmation of its bank details to the respective Local Authority.
• The business is rates compliant, including those businesses with a phased payment arrangement in-place.
• The business is tax compliant, and in possession of a valid Tax Registration Number.