Pádraig O'Sullivan (Cork North Central, Fianna Fail)
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63. To ask the Minister for Enterprise, Trade and Employment the number of businesses in Cork city and county that have registered for, and drawn down, the increased cost of business grants since the scheme's criteria were widened in May; the value of payments for city and county, in tabular form; and if he will make a statement on the matter. [43413/24]

Dara Calleary (Mayo, Fianna Fail)
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The Increased Cost of Business Scheme (ICOB) has successfully paid out €244m to date to 75,000 SMEs right around the country, including over 38,000 SMEs in the retail and hospitality sector. The ICOB scheme is now closed to registrations.

In answer to the Deputy's question, I can report the following statistics for Cork City and County.

To date, Cork City Council has paid out over €14m to eligible businesses. 3,602 businesses received over €9m in the first ICOB payment and 1,896 businesses in the retail and hospitality sectors received over €5m in the second ICOB payment.

To date, Cork County Council has paid out over €15m to eligible businesses. 5,531 businesses received over €9.5m in the first ICOB payment and 2,819 businesses in the retail and hospitality sectors received over €5m in the second ICOB payments.

I recently announced the Power Up grant Scheme which has a budget of €170m. Power Up is a €4,000 grant that will be available to businesses in the hospitality and retail sectors that received a second payment under the Increased Cost of Business Scheme and who continue to meet the eligibility requirements.

1,896 businesses in the retail and hospitality sectors who received the 2nd payment of the ICOB grant in Cork City Council and 2819 business in those sectors who received the ICOB grant in Cork County Council are in line to receive €4,000 if they continue to meet the eligibility criteria.

Niamh Smyth (Cavan-Monaghan, Fianna Fail)
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67. 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. [43400/24]

Peter Burke (Longford-Westmeath, Fine Gael)
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I am very aware of the difficulties the hospitality sector continues to face right around the country due to the costs associated with doing business. SMEs are crucial to our towns and villages. The Increased Cost of Business scheme this year alone has successfully paid out over €244 million to 75,000 SMEs, including two payments to over 38,000 SMEs in the retail and hospitality sector.

In recognition of the importance of the hospitality and retail sectors, I announced the Power Up Grant with a budget of €170 million as part of Budget 2025. The Power Up Grant builds on the success of the Increased Cost of Business Scheme. This grant is for businesses in the hospitality, retail and beauty sectors who received a second payment of the ICOB grant. Up to 39,000 of those businesses are now in line to receive a €4,000 Power Up Grant once they continue to meet the eligibility requirements.

I have also introduced a range of other supports that are aimed at assisting SMEs, including those in the hospitality sector.

I also introduced changes to the Local Enterprise Office Energy Efficiency Grant to make it more attractive to SMEs. The Energy Efficient Grant supports capital investment by businesses to reduce carbon emissions based on energy efficiency projects. The scheme supports companies to reduce their carbon emissions and overall energy costs by accelerating the adoption of low carbon technologies or processes identified through a Green for Business, Green Start or SEAI Energy Audit. The grant now offers 75% of project costs, up to a maximum of €10,000. Applications are open since 12 July.

The LEO Digital for Business consultancy assists businesses in understanding digitalisation and its benefits, and developing a digital roadmap for the business, contributing to the overall target of basic digital intensity for small businesses. Digital for business is free with no cost to the applicant.

On 4th September the Grow Digital Voucher was launched. Under this new offer, the funding available has been increased to up to €5,000 and the eligibility criteria expanded to cover a wider range of digital interventions available to a broader range of businesses compared to the Trading Online Voucher.

I launched the National Enterprise Hub on 10 July 2024, it is a new all-of-government service, funded through my Department and operated by Enterprise Ireland. It is staffed by expertly trained advisors and is focused on helping businesses access a range of government supports.

Separately, while the 13.5% VAT rate applied to the hospitality sector remained unchanged following the Budget, there were a number of enterprise tax measures announced in Budget 2025 which will be of relevance to businesses operating in the sector. These include:

• Changes to the CGT Retirement Relief to support intergenerational transfers;
• Raising the VAT registration threshold to €85,000 for goods and €42,500 for services;
• Enhancements to the Small Company Start Up Relief;
• Increasing the Small Benefit Exemption Limit to €1,500, and the number of benefits allowable from 2 to 5 annually;
• A €125 increase in the Earned Income Tax Credit.

Jennifer Murnane O'Connor (Carlow-Kilkenny, Fianna Fail)
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69. To ask the Minister for Enterprise, Trade and Employment how many businesses in each of Carlow and Kilkenny will be eligible for the power up grant announced in Budget 2025; and if he will make a statement on the matter. [43433/24]

Peter Burke (Longford-Westmeath, Fine Gael)
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I recognise that businesses operating in the retail and hospitality sectors continue to face higher costs with running their business, that is why I announced the Power Up Grant as part of Budget 2025. The Power Up grant has a budget of €170m.

This grant builds on the success of the Increased Cost of Business Scheme which has delivered €244m to date to businesses to 75,000 SMEs, including over 38,000 SMEs in the retail and hospitality sectors.

Under the Power Up Grant, those retail and hospitality businesses that received a second payment as part of the Increased Cost of Business Scheme and continue to meet the eligibility criteria are in line to receive a grant of €4,000. Business in the hospitality and retail sectors that received their first rates bill in 2024 may also be eligible. Officials in my Department are currently working on finalising details and implementation of the scheme.

In relation to your specific query regarding Carlow and Kilkenny please note that :

514 Carlow businesses have received the second ICOB payment and may be eligible to register for the Power Up Grant.

804 Kilkenny businesses have received the second ICOB payment and may eligible to register for the Power Up Grant.

The Local Authorities are administering the scheme on behalf of my Department and the relevant businesses will receive an email from the relevant local authority with details on how to register for this grant. Eligible businesses should register for the grant as soon as possible once the scheme goes live.