Power Up: A Lifeline for Retail and Hospitality Businesses

The Irish government has introduced a new grant scheme, Power Up, to provide much-needed financial support to struggling retail and hospitality businesses. With a total budget of €170 million, the grant aims to help businesses offset the rising costs associated with operating during the busy Christmas period.

Who is Eligible?

Businesses in the retail and hospitality sectors that have already received the second Increased Cost of Business (ICOB) payment are eligible to apply for the Power Up grant.

How to Apply?

The application process is designed to be straightforward. Businesses will receive an email from their Local Authority with instructions on how to register. It's important to check your emails regularly to ensure you don't miss the deadline.

Grant Amount

Eligible businesses can receive a one-time grant of €4,000.

Why is Power Up Important?

The Power Up grant is a vital lifeline for many small businesses in the retail and hospitality sectors. Rising energy costs, increased wages, and supply chain disruptions have put immense pressure on these businesses. The grant will provide a much-needed boost to their cash flow, enabling them to continue operating and potentially invest in their businesses.

Deadline for Registrations

The deadline for registering for the Power Up grant is:

November 8, 2024.

Ministerial Support

Both Minister for Enterprise, Trade and Employment Peter Burke and Minister of State for Trade Promotion, Digital Transformation and Company Regulation Dara Calleary have emphasized the importance of this grant scheme. They have urged eligible businesses to register promptly to avail of this financial support.

The Power Up grant is a timely initiative that will provide a significant boost to the Irish retail and hospitality sectors. By helping businesses manage rising costs, the grant will contribute to the overall economic recovery of the country.