A new grant is being rolled out to provide up to 50 per cent of the Commercial Rate bill for qualifying businesses.
As part of Budget 2024, the Government signed off on a package of €257m for the Increased Cost of Business (ICOB) Grant as a vital measure for small and medium businesses.
Donegal County Council, funded through Department of Enterprise, Trade and Employment (DETE), will manage the rollout of the grant to qualifying businesses.
Eligible businesses will receive a once-off grant payment. The amount of the grant payable to eligible businesses is based on the value of the Commercial Rates bill the business received in 2023.
The grant is available to qualifying businesses as a contribution towards the rising costs faced by businesses.
How much is the grant?
The grant is based on the value of the Commercial Rates bill received by an eligible business in 2023. Further detail on business eligibility is available on our website www.donegalcoco.ie
– For qualifying businesses with a 2023 Commercial Rate bill of <€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.
– Businesses with a 2023 Commercial Rates bill greater than €30,000 are not eligible to receive an ICOB grant.
How soon can businesses avail of the grant?
An online system is being developed to manage the submission of essential information. Donegal County Council will write shortly to businesses with further details, including how to register and how to submit information online. The system is expected to be available later this month. The closing date for businesses to confirm eligibility and to upload verification details will be 1st May 2024.
Where can I find out further information?
Further correspondence and guidance will be issued to each commercially rateable business in the County by post shortly. You do not need to do anything further until you receive this communication.
If you have queries regarding your Commercial Rates account including outstanding balances, contact Donegal County Council at 074 9153900 or commercialrates@donegalcoco.ie
