Over €1.7m paid in Laois through Increased Cost of Business Grant

There has been over €1.7m paid out to businesses in Laois through the government's Increased Cost of Business (ICOB) Grant Scheme. 

New figures show that to date 1090 Laois businesses registered for the scheme and 974 of those businesses have been deemed eligible for the payment. In total €1,741,587 has been paid out to eligible businesses in Laois.

Nationally payments to 81,829 small and medium businesses around the country have now exceeded €200 million.

The ICOB grant was designed to help SMEs with the increased costs associated with running a business and was administered by the Local Authorities on behalf of the Department of Enterprise, Trade and Employment.

Welcoming the figures Minister for Enterprise, Trade and Employment Peter Burke TD said: “I am acutely aware of the challenges facing businesses over the last period and this scheme was devised to support businesses and provide a welcome and much needed cash injection to assist with costs. Small and medium enterprises are the backbone of our economy, employing two thirds of all of workers in this country, and I am delighted that the Government backed my plan to assist them, with payments now received by businesses totalling €200 million under this Scheme. 

“I have spoken to dozens of businesses around the country who have availed of ICOB and they can be assured that Government will continue to work with them in the coming period, to help negotiate a business environment that offers opportunities."