Power Up Grants FAQ’s

12/11/2024

Information on the Power Up Grant

What is the Power Up Grant?

The Power Up grant was announced by Government in Budget 2025. It has an overall budget of €170 million to provide a €4,000 grant payment to eligible SMEs in the hospitality, retail and beauty sectors. The Power-Up Grant, funded by the Department of Enterprise, Trade and Employment, is being administered by local authorities based on the eligibility criteria set by the Department. Local Authorities are emailing businesses who may be eligible for the Power Up grant with details on how to register. Don’t delay with registering. The Power Up registration portal is open for a limited time to 22nd November in order to get payments to businesses before the end of the year.

When is the Closing Date?

The closing date has been extended to 22nd November. Eligible businesses who have not completed registration by this date cannot be considered for the Grant. Eligible businesses should register without delay.

How much money is available?

The Power Up grant is €4,000 to be paid by the Local Authorities before the end of the year to eligible businesses in the hospitality, retail and beauty sectors who received the second payment under the Increased Cost of Business Scheme.

Is my business Eligible?

Power Up eligibility is aligned with the Increased Cost of Business (ICOB) scheme. A business in the retail, hospitality or beauty sector that received a second payment under the ICOB scheme is eligible to register for the Power Up grant. If you didn’t register for the ICOB grant you are not eligible to register for the Power Up grant. Eligible businesses that received a second payment under ICOB must continue to meet the ICOB eligibility requirements below in order to qualify for Power Up:

• Your business must have received a Commercial Rates Bill equal to or less than €30,000 in 2023.
• Your business must currently operate from a property that is commercially rateable.
• Businesses must be rates compliant for 2023 as per the ICOB criteria. Businesses with approved and performing payment plans from 2023 may be deemed compliant. Compliance will be verified by the relevant Local Authority.
• Your business must be tax compliant and possess a valid Tax Registration Number (TRN).

When registering, businesses need to confirm on the Power Up registration portal that they are currently trading and intend to continue trading for at least three months from the date they verify their information (including those seasonally closing businesses who intend to reopen in Spring 2025). Businesses do not need to send confirmation of bank details unless they have changed since they received the second ICOB payment.

Businesses in the hospitality, retail and beauty sectors that did not receive the second payment under ICOB may be eligible for Power Up if they were trading in 2023 from a rateable premises but were unable to apply for ICOB as they did not have a 2023 commercial rates bill. Eligible businesses in this category will be able to register on the Power Up portal in December. These businesses must be rates complaint and also fulfil the relevant eligibility criteria outlined above.

What if I didn’t receive an email?

If you received the second ICOB payment and have not received an email regarding Power Up registration, please contact the rates section of your Local Authority.

I do not qualify for the Power Up Grant due to my business categorisation; can I change the categorisation of my business now?

No, it is not possible to change your business category. Eligibility for the Power Up grant is linked to the ICOB scheme. Businesses in the retail, hospitality, or beauty sectors that received a second payment under the ICOB scheme are eligible to register for the Power Up grant. However, if your business was not correctly categorised for ICOB, you are not eligible for the Power Up grant. Since the ICOB scheme is now closed and cannot be reopened, your business cannot be reclassified and is ineligible for the Power Up grant.

I didn’t apply for the ICOB grant can I apply for the Power Up grant?

No, if you didn’t register for the ICOB grant you are not eligible to register for the Power Up grant.

I started a new business in 2024 can I apply for the Power Up grant?

Businesses that began trading in 2024 are not eligible to register for the Power Up grant. To be eligible for Power Up, you must have been trading in 2023.

What supports are available to my Business?

The National Enterprise Hub online portal provides all business owners with a centralised signposting service of over 180 Government supports. The Hub has a team of expertly trained advisors who can help to diagnose the needs of your business and direct you to the appropriate available supports or indeed put you in direct contact with the relevant agency. The Hub team can be contacted through the website (www.neh.gov.ie) via live chat or by phone on 01 727 2100.

Please also see Power Up grant - DETE