Mayo businesses receive six million euro of public funding in December

Mayo businesses have received a money boost: It has been confirmed, that the Power Up scheme, a new grant introduced in Budget 2025, has so far paid out €6.05 million to 1515 businesses in County Mayo in the hospitality, retail, and beauty sectors in the last four weeks.

Each eligible business received a €4,000 grant during the month of December, paid directly into their bank accounts.

Almost €400 million has been paid this year to SMEs (small and medium sized enterprises) across the country under the Power Up grant and the Increased Cost of Business Scheme (ICOB).

During the summer, the Increased Cost of Business Grant paid out €244 million to over 75,000 businesses, including a double payment for businesses in the hospitality, retail, and beauty sectors.

Alan Dillon (Fine Gael), Minister of State with responsibility for Local Government and Planning, said “The Increased Cost of Business scheme and the Power Up grant have been hugely successful this year. We have paid out just under €400 million this year alone to businesses across the country. This is a significant amount of money that has been directly targeted at SMEs – our small, family-run businesses with rates bills of less than €30,000, which provide the backbone of our local economies and our communities.

"When Taoiseach Simon Harris took office in April this year, he made supporting small businesses a top priority. In June, the Government announced the SME package, followed by the Power Up Scheme in Budget 2025. This scheme has already disbursed €153 million to small, family-run businesses in December alone."

Minister Dillon emphasised that the €400 million paid to SMEs this year shows the Government's commitment to addressing business challenges. By engaging with businesses nationwide, the focus has been on providing quick cash payments with minimal paperwork. As negotiations continue, the Government is striving to ensure further support for small businesses in any new agreements.