Almost €10 million in Increased Cost of Business grants paid to Kildare businesses

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.