Skip to main content

A new set of financial supports for the retail and hospitality sector was approved last week, with several new measures in place to help businesses cope with the rising cost of running a business in Ireland. 

Included in this package is a second round of grants of up to €5,000, under the Increased Cost of Business scheme. The scheme is now open until next Wednesday for businesses that have not registered already. The maximum amount under the Energy Efficiency Grant for small businesses has been increased to €10,000. The Innovation Voucher Scheme, a grant which helps businesses develop products, will also be doubled from €5,000 to €10,000.

Furthermore, the threshold for PRSI has been increased. Businesses will pay a lower rate of employer PRSI at 8.8% for staff earning up to €496. The threshold for this band of PRSI currently stands at €441. There will also be a review on statutory sick leave for employees before any increases.