Pat Buckley (Cork East, Sinn Fein)
Link to this: Individually | In context

73. To ask the Minister for Enterprise, Trade and Employment to confirm when the power up grant will be paid out to all applicants. [24670/25]

Peter Burke (Longford-Westmeath, Fine Gael)
Link to this: Individually | In context

The Increased Cost of Business scheme was introduced in March 2024 and the Power Up grant was introduced in October 2024. Both schemes are now closed, however, in total, €400 million in grant aid was successfully paid to SMEs right across the country in 2024 under these grants.

The schemes were designed by the Department of Enterprise, Trade and Employment and administered by the local authorities with the aim of helping businesses with the increased costs associated with running a business.

All approved payments under these grant schemes have issued to businesses.

Following the launch of Power Up, the Department and local authorities became aware of an issue where businesses misclassified their business sector and were subsequently not eligible for the grant.

In order to address this, the Government recently approved an appeals process that will give those businesses in the retail, hospitality and beauty sectors that were not eligible for ICOB and the Power Up grant because of the misclassification issue, an opportunity to register for those grants.

This is not a re-opening of those grant schemes, rather this is designed solely to allow those who originally misclassified their business sector an opportunity to register for the grants.

The Department will now engage with the Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation and with the local authorities to agree on the details of the reclassification process. Subject to agreement with the local authorities, it is intended to open the appeals process as soon as possible and local authorities will contact the eligible businesses and inform them of the necessary steps to apply.

Pat Buckley (Cork East, Sinn Fein)
Link to this: Individually | In context

74. To ask the Minister for Enterprise, Trade and Employment to confirm how many businesses in County Cork applied for the power up grant. [24671/25]

Peter Burke (Longford-Westmeath, Fine Gael)
Link to this: Individually | In context

The Local Authorities administered the Power Up grant on behalf of the Department of Enterprise, Trade and Employment.

1815 businesses registered for the Power Up grant in Cork City with 1773 businesses approved to the value of €7.1 million paid out to SMEs

2846 businesses registered for the Power Up grant in Cork County with 2708 approved to the value of €11.2 million.