Announcing The New Power Up Grant – All You Need To KnowFind out more about the Power Up grant designed to support businesses in the hospitality, retail, and beauty sectors. Jennifer Power explains. We’re pleased to inform you that the Government has announced a new €4,000 grant under Budget 2025 called the Power Up grant. This grant is designed to support businesses in the hospitality, retail, and beauty sectors as they navigate ongoing challenges and rising costs. If you are in one of these sectors and have already received the second payment of the Increased Cost of Business Scheme, you may be eligible to apply for the Power Up grant.The deadline for the application is Friday 8th November 2024.How to ApplyAccess the MyCoCo portal at mycoco.ie/powerup using your MyCoCo user ID and password (set up during your application for the Increased Cost of Business Scheme). If you’ve forgotten your password, you can reset it via the “Forgot your Password” link.Follow the application instructions and complete the additional self-declaration confirming your business is currently trading and will continue to do so for at least three months following your submission.Eligibility Criteria To qualify, your business must meet the following requirements:Be a commercially trading entity operating from a commercial rateable property.Be currently trading and intend to continue trading for at least three months from your submission date (including seasonal businesses planning to reopen in Spring 2025).Have an up-to-date rates account (businesses on payment plans may also qualify).Be tax compliant with a valid Tax Registration Number.Local authorities will manage the grant’s rollout, and if you need assistance with the application process, you can contact your local authority directly.We encourage you to check the MyCoCo portal to view eligible premises and ensure you have the required details to streamline your application process.Should you have any questions or require assistance with your eligibility, please don’t hesitate to reach out to us.Fitzgerald Power is a leading financial advisor to the Irish SME sector. We provide accountancy, corporate finance and taxation advice to businesses across the country. We’d love to hear from you so please get in touch if you think we can help.Further Articles The Temporary Business Energy Support Scheme (TBESS) – How it can help youStruggling with business energy costs? Learn how your business can claim payment against energy costs with the updated Temporary Business Energy Support Scheme. Read Blog Budget Report 2025We’ve condensed all you need to know about Jack Chambers’s Budget 2025 into our Fitzgerald Power overview. Read and Download our review here. Read Blog
