The Increased Cost of Business (ICOB) grant allows qualifying businesses to claim a contribution towards the rising costs of doing business at the current time. In order to make a claim businesses must register by May 1st on the ICOB Portal at www.icob.ie.    

As part of Budget 2024, the Government agreed a package of €257 million to assist small and medium enterprises with rising costs. The Increased Cost of Business (ICOB) Grant is a key element and is managed by Local Authorities and funded by the Department of Enterprise, Trade and Employment. The grant is available to qualifying businesses as a contribution towards the rising costs faced by businesses, but it is stressed that it is not a rates waiver.  

The grant payable will be based on the value of the Commercial Rates bill received by an eligible business in 2023. Generally if this bill is under €10,000, the ICOB grant will be paid at a rate of 50%. If rates are 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.

To register a business must be a commercially trading and currently operating from a property that is commercially rateable and in receipt of a Rates Bill in 2024. Businesses also need to be rates and tax compliant. 

The deadline for businesses to confirm eligibility and upload verification details is May 1, 2024. Businesses will need to provide their council customer number along with the associated PIN. 

Registration is at www.icob.ie