Irish Government Disburses Nearly €400 Million to Support Small Businesses Amid Rising Costs
In a challenging year for small and medium-sized enterprises (SMEs), the Irish government has distributed almost €400 million under the Power Up grant and the Increased Cost of Business (ICOB) Scheme. These initiatives, aimed at alleviating the financial burden from increased labor costs and other expenses, have benefited over 113,500 businesses. Minister for Enterprise Trade and Employment, Peter Burke, highlighted the schemes’ success, emphasizing the government’s commitment to supporting struggling businesses, while acknowledging ongoing challenges faced in sectors such as retail and hospitality.