Majority of businesses yet to sign up for share of free money

Low take-up across the country as May 1 deadline to register for €257m government support package looms

Most businesses in Ireland have failed to register for a €257m package of supports made available by the Government in the Budget, even as a deadline to do so looms.

The once-off Increased Cost of Business Scheme will return to businesses half of what they paid in commercial rates during 2023, if they paid up to €10,000. For businesses that paid between €10,000 and €30,000 in rates, a grant of €5,000 is available.

Businesses with rates above €30,000 are not eligible.

The grants are available to about 143,000 businesses across the State, or roughly 95pc of rateable enterprises, and they have until May 1 to register.

But businesses have been slow to avail of the free money, which is available through local authorities.

It has emerged that only about a quarter of the thousands of businesses in the Dublin region have registered for the supports.

Junior enterprise, trade and employment minister Emer Higgins said that as of Tuesday this week, just 21pc of the 17,661 eligible businesses in the Dublin City Council area have registered for the supports. Fingal County Council has received just 1,662 registrations, or 26pc of the 6,392 business that can avail of the assistance.

In the South Dublin County Council area, only 1,438 businesses have registered under the scheme, which is 26pc of the 5,530 that can.

In Dún Laoghaire-Rathdown, the figure is 1,148, which is 23pc of the 4,991 businesses that have been notified of the scheme.

Ms Higgins provided figures in response to parliamentary questions from Fianna Fáil TDs John Lahart and Niamh Smyth. “I urge all eligible businesses to register for this grant as soon as they receive a letter from their local authority,” said Ms Huggins.

“The sooner a business registers, the sooner their details will be verified and the grant will be paid out.”

She said that payments will be made to eligible businesses in the coming weeks.

In Co Cavan, only 15pc of the eligible businesses there have so far signed up for the grant.

In Co Sligo, the figure is at 30pc, while in Co Donegal, it is 22pc.

Galway city has seen 31pc, or 983, of eligible businesses register for the scheme. In Galway county, 35pc, or 941, have registered.

In Mayo, the figure is currently at 28pc, while in Monaghan it is 30pc and in Roscommon, 27pc.

This week, Fine Gael senator Aisling Dolan called for more time for businesses to avail of the scheme.

She said the €257m package will provide a “real boost” to micro-businesses and SMEs and recognises the ongoing challenges they are facing.

“We need to see a higher take-up in each county,” she said. “Therefore, I want to see the May 1 deadline extended to allow businesses the extra time to avail of this support.

“I believe there should be proactive direct email engagement by local authorities and local enterprise offices to businesses that have yet to avail of this support.”

To qualify, businesses must be a commercially-trading business that is currently operating from a property that is commercially rateable. The business must also have been trading on February 1 this year, and business owners must intend to continue trading for at least three months after they verify their details under the scheme.

“I want to see the May 1 deadline extended to allow businesses the extra time to avail of this support”