Almost 1,000 SMEs in Offaly apply under new cost of business scheme

The Minister for Enterprise; Trade and Employment Peter Burke has confirmed to Independent TD Carol Nolan that there have been 957 submissions from small and medium sized businesses owners in Offaly to the Government's Increased Cost of Business (ICOB) portal. The total number of properties involved is 1,068.

The minister also confirmed that Offaly County Council has been allocated €2,255,939.

Deputy Nolan said that she has been engaging with the Department in an effort to highlight the ongoing economic shocks being felt by retailers and small businesses owners, including the fallout from the failure of Government to reduce the 13.5% vat rate to 9%: a move seen as critically important by many within the retail and hospitality sectors:

“While I am sure that the almost 2,000 small businesses in Laois and Offaly appreciate the support from the ICOB scheme the fact remains that what we need is an immediate change to the VAT rate and escalated efforts to reduce the cost of energy, which are both major drains on small enterprises with razor thin operating margins,” said Deputy Nolan.

“I am talking to small and medium size business owners on a daily basis, and they are all telling me the same thing; tinkering around the edges with schemes and supports may assist them briefly but ultimately the avalanche of costs will keep coming long after the support schemes have been closed.”

“Businesses need to be able to plan. They need to know that input costs such as energy and outgoing costs such as increased VAT rates will not wipe them out. I have spoken to many employers who feel utterly demoralised by the cost burden of trying to operate and keep the doors open,” concluded Deputy Nolan.