Slightly more than 2,000 businesses in the county have applied for the Increased Cost of Business Grant. The newly introduced grant scheme will close for applications today. Tipperary County Council confirmed yesterday that 2,137 applications have been received for the ICOB Grant from ratepayers in the county. Approximately 4,000 letters were sent to ratepayers with a rates bill at €30,000 or lower informing them of the Scheme. Some of these locations may currently be vacant.
County Tipperary Chamber is encouraging all eligible businesses to claim the payment as it will support their lobbying of Government for additional support measures as well as boosting the cash reserves of the business. Full details are available on the Tipperary County Council website at this link here.
The application process takes 2 minutes and involves registering on the application website. The Increased Cost of Business was announced in last year’s business as a measure to support businesses facing increasing operating costs due to changes particularly in the areas of minimum wage, statutory sick pay and auto enrolment in pension schemes.
The ICOB Scheme will give rate paying businesses a grant of 50% of their rates bill for those with a rates bill of up to €10,000, a lump sum grant of €5000 is payable to rates payers with a rates bill of between €10,000 and €30,000. Those with a rates bill higher than €30,000 are not eligible.
