Joe Flaherty (Longford-Westmeath, Fianna Fail)
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72. To ask the Minister for Enterprise, Trade and Employment the number of businesses in counties Longford, Westmeath, Offaly and Laois, respectively, that have registered for the increased cost of business Grant to date; when payments under the grant will commence; and if he will make a statement on the matter. [16881/24]

Thomas Gould (Cork North Central, Sinn Fein)
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84. To ask the Minister for Enterprise, Trade and Employment if business in Cork have received payment under the increased cost of business scheme. [16993/24]

Peter Burke (Longford-Westmeath, Fine Gael)
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I propose to take Questions Nos. 72, 80 and 84 together.

I would like to thank the Deputies for asking for an update on the ICOB grant.

Deputies will be aware that, as part of Budget 2024, the Government signed off on a package of €257 million for the Increased Cost of Business (ICOB) grant as a vital measure for small and medium businesses.

Local Authorities, funded through the Department of Enterprise, Trade and Employment, are administering the grant to qualifying businesses on behalf of the Department.

Local Authorities have written to all rate paying businesses with details of how to register for the grant and it is a very simple process for businesses to verify their details through an online portal.

The scheme has been open for registrations since 14 March. Local Authorities will begin to send payments to eligible businesses from Monday next 22 April . The closing date for applications for the ICOB grant is 1 May 2024. I urge all eligible businesses to register for this grant as soon as they receive a letter from their Local Authority. The sooner a business registers the sooner their details will be verified and the grant will be paid out.

In relation to the uptake of the scheme in the counties referred to in the questions, the latest figures as at Tuesday 16th April are as follows:

Longford has 363 registrations which is 37% of those businesses notified

Westmeath has 682 registrations which is 33% of those businesses notified

Offaly has 448 registrations which is 20% of those businesses notified

Laois has 402 registrations which is 30% of those businesses notified

Cork City has 2118 registrations which is 23% of those businesses notified

Cork County has 2304 registrations and which is 19% of those businesses notified

Kerry has 1153 registrations which is 21% of those businesses notified.

Niamh Smyth (Cavan-Monaghan, Fianna Fail)
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73. To ask the Minister for Enterprise, Trade and Employment for an update on the supports available to businesses with the rising cost of energy in running a business, particularly those in the hospitality sector, which has seen a number of closures recently. [16698/24]

Peter Burke (Longford-Westmeath, Fine Gael)
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The latest data available from the Central Statistics Office shows that the price of wholesale electricity in February 2024 was 46.8% lower than in February 2023, with electricity prices falling by 15.3% between January 2024 and February 2024. Additionally, the Wholesale Price Indices for Energy Products – that is fuels purchased by manufacturing industry – fell by 37.2% over the year to February 2024. Whilst energy cost have fallen from their peak, I recognise that energy costs are still above historic norms.

This Government has adopted an active approach in supporting Irish businesses across multiple crises over the last number of years. Prior to Budget 2024 the Government made available €1.3 billion through the Temporary Business Energy Support Scheme (TBESS) to support firms facing increased energy costs.

Budget 2024 saw the announcement of a €257 million package for the Increased Cost of Business grant. The Local Government sector is managing the rollout of the grant to qualifying businesses. These firms are being encouraged to register for the scheme and it is up to businesses to verify their details through an online portal. This scheme is designed to help SME’s.

I also recognise that there are other costs impacting firms. My Department, in collaboration with the Department of Social Protection, assessed the cumulative impact of changes to working conditions. Reflecting the findings of this assessment, a range of measures are being brought forward to assist businesses in adjusting to these increased costs as well as more generally to improve cost competitiveness of firms.

These measures include making available up to €15 million to Local Enterprise Offices to enable a top up payment of up to €3,000 in the Energy Efficiency Grant for businesses in the hospitality and retail sectors bringing the grant up to €8,000; preparation of an options paper on the application of the lower 8.8% rate of Employer PRSI contribution; a range of measures to reduce red tape and the administrative burden on business, including: an enhanced SME Test; accelerating the roll out of a fully functioning National Enterprise Hub with staff available to provide immediate advice and support to vulnerable firms.

My Department is fully committed to supporting businesses and the measures included in Budget 2024, and more recently in the measures announced following the publication of the ‘Assessment of the Cumulative Impact of Proposed Measures to Improve Working Conditions in Ireland’ reflect this.