Laois County Council begin rollout of Increased Cost of Business grant

Laois County Council will begin writing to businesses to offer details on how to apply for the Increased Cost of Business (ICOB) grant that was announced as part of Budget 2024. 

The local authority is expected to have an online system for applications ready by mid-March with closing date in May. 

The funding support is aimed at helping small to medium business with risings costs.

Eligible businesses will receive a once-off grant payment based on the value of the Commercial Rates bill the business received in 2023. 

– 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.

In order to qualify your business must be a commercially trading business currently operating from a property that is commercially rateable. The business must have been trading on February 1, 2024 and you must intend to continue trading for at least three months from the date you verify your information. You must provide confirmation of your bank details and your business must be rates compliant. Businesses in performing payment plans may be deemed to be compliant and the business must be tax compliant and must possess a valid Tax Registration Number (TRN).

"An online system is being developed to manage the submission of essential information. Laois 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 in mid-March," said a spokesperson for the council. 

"The closing date for businesses to confirm eligibility and to upload verification details will be 1st May 2024."