Ciaran Mather, 16 Aug
Almost €10 million in Increased Cost of Business (ICOB) grants has been
paid to businesses located in County Kildare.
Minister of State for Trade Promotion Dara Calleary TD has said that
payments under the government grant scheme reached more than €200
million nationwide to some 81,000 small and medium sized businesses
(SMEs).
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.
Minister Calleary's Kildare-based Fianna Fáil colleague, Senator Fiona
O'Loughlin, welcomed the news.
She said: "I’m delighted that nationwide payments under the Increased
Cost of Business Scheme have passed the €200 million mark.
"These funds are directly helping small and medium sized businesses
across the country deal with day-to-day expenses.
"It’s a practical and targeted government support."
The politician, who operates from Newbridge, continued: "In Kildare, a
total of €9,938,830 worth of payments were issued to businesses in the
county.
"Some 3,054 businesses received €6,151,147 in the first tranche of
payments and 1,816 businesses received €3,787,683 in the second round
of payments.
"That’s a significant sum of money going directly to local businesses
to assist them with ongoing challenges."
She concluded: "Fianna Fáil in government is committed to helping small
businesses across the country."
Nationwide, some 71,672 small and medium sized businesses have received
their first payments, totalling €148 million, under the scheme.
A further €58million in second payments have been made, bringing the
total to €205 million to date.
A total of €257 million is currently available under the scheme and
further payments continue be made on a daily basis.
Fianna Fáil Fiona O'Loughlin. File photograph.