Businesses in Cavan and Monaghan are advised the deadline to apply for the Increased Cost of Business Grant has been extended until the end of the month.
The original date for applications of May, 1st has now been extended until Wednesday, 29th May. The new date is to ensure as many SMEs in Cavan and Monaghan get the support being offered by government in the way of a grant to help offset the cost of business grants.
By the end of April there was only a 30 to 50 per cent take up of the grant. For businesses with a 2023 Commercial Rate bill of less than €10,000, the ICOB grant will be paid at a rate of 50% of the business’s Commercial Rate bill for 2023. For qualifying businesses with a 2023 Commercial Rate bill of between €10,000 and €30,000, the ICOB grant will be €5,000.
To be eligible for ICOB, businesses must be rate compliant. Olga McConnons from Monaghan County Council explained businesses are considered rates compliant if they have paid their 2023 rates in full or are on a performing payment plan.
