Worries have emerged as less than a quarter of qualified small-scale ventures have submitted applications for a particular grant intended to alleviate the heightened costs of operations. Eligible small enterprises, such as boutique stores, saloons, public houses and coffee shops, can receive a rebate amounting to half of their 2023 rates.
Fianna Fáil Senator Robbie Gallagher has urged for the extension of the application deadline for this grant beyond 1st May. Mr Gallagher highlighted that while roughly 130,000 businesses are in the position to submit applications for the grant, only about 30,000 have done so till now. He expressed his alarm over the grant’s low uptake, emphasizing a communication gap regarding the grant among businesses.
The grant scheme stipulates that a business with a charge worth up to €10,000 can avail a refund of half the amount, up to €5,000. An enterprise that had an €8,000 rates bill in the previous year can claim a €4,000 rebate, according to Gallagher. Businesses with bills ranging from €10,000 to €30,000 will receive the lesser of 50% or €5,000 as the maximum grant. Gallagher valued this as a beneficial grant.
In the Seanad, Gallagher suggested that a month-long extension would enable better promotion of the scheme and allow local authorities time to inform businesses about the grant. He added that after almost 20 years in the industry, he understands that entrepreneurs often miss opportunities like these due to day-to-day business demands.
Calling for Seanad leader Lisa Chambers to request Minister for Enterprise Peter Burke to extend the deadline by about a month, Gallagher reasoned this would provide businesses sufficient time to apply for the grant. Lisa Chambers conceded that there is a need to ensure eligible enterprises are aware of this grant in order to boost the uptake from the Government’s key grant aimed at supporting small businesses.
As part of Budget 2024, a €257 million fund for the grant was rolled out by former Minister for Enterprise Simon Coveney to eligible businesses by local authorities.
As the election approaches, Finance Minister Michael McGrath has hinted at potential support measures for small businesses ahead of the 2025 budget. This would aid companies grappling with challenges. Prime Minister Simon Harris has already pointed out that the government will prioritise support for these small businesses. A study from Mr Coveney considering the effects of various government policies aimed at enhancing work conditions identified urgent needs, which included an increase in pay rates, a higher minimum wage, and better leave entitlements, among others.
“There is a business cost resulting from the amalgamation of these measures”, McGrath stated, “hence, we’ve hinted at several steps we’re ready to implement.”