The introduction of a €5,000 grant under the Increased Cost of Business scheme by the Irish government signifies a targeted effort to support small and medium businesses in the retail and hospitality sectors. This grant aims to alleviate some of the financial strain caused by rising operational costs, providing direct assistance to eligible businesses.
However, while this grant represents a step towards addressing the challenges faced by these sectors, concerns linger about its adequacy in fully offsetting the significant increases in expenses like sick pay and the new minimum wage.
The grant is part of a broader package of support measures aimed at bolstering businesses in these sectors, but stakeholders emphasize the need for additional measures to comprehensively address the multifaceted challenges they face. Read more here.
