COVID-19 recovery and cost of living business supports


Business owners could avail of a number of supports during COVID-19.

This page summarises the financial support schemes, rates waivers and tax measures in place to support businesses as they continue to recover from COVID-19 and deal with the rising costs of living.

You can also get advice from your accountant or use the advisory support from your Local Enterprise Office (LEO).

You can get up-to-date information on support and guidance for businesses and employers from the Department of Enterprise, Trade and Employment.

Loans, grants and vouchers

Small Business Cashflow Loans

Small Business Cashflow Loans from €2,000 to €25,000 are available through Microfinance Ireland (MFI). The loan terms are typically 3 years and there is a 1% discount on the APR Rate if you apply through your Local Enterprise Office. Once all documents are received, you will have a credit decision within 10 working days.

The loan is open to sole traders, partnerships, and limited companies with fewer than 10 full-time employees and an annual turnover of up to €2 million. You can apply through the MFI website or through your Local Enterprise Office.

Trading Online Voucher Scheme

A Trading Online Voucher Scheme worth up to €2,500 is available to help small and microenterprises get online. A second voucher of up to €2,500 is also available. Contact your Local Enterprise Office for more information and application details.

Rates waiver and tax measures

A number of measures are available to help businesses reduce their operational costs.

Increased Cost of Business (ICOB) grant

It was announced in Budget 2024 that a once-off Increased Cost of Business (ICOB) grant will be rolled out in 2024 to help with business costs.

The grant will give businesses back half of what they paid for commercial rates in 2023, if they paid up to €10,000.

Businesses who paid between €10,000 and €30,000 in commercial rates in 2023 will get a grant of €5,000.

The grants will be available through local authorities. There is no formal application process, the local authority will contact eligible businesses directly.

Ukraine Enterprise Crisis Scheme

The Ukraine Enterprise Crisis Scheme helps viable but vulnerable firms of all sizes in the manufacturing and internationally traded services sectors.

There are two streams of funding under the Scheme. You can apply under:

  • Stream 1 for grants up to €500,00 to help if you are having trading difficulties caused by liquidity problems as a result of the war in Ukraine
  • Stream 2 for state aid support of 30% of energy charges in 2022 if you are an energy intensive company experiencing severe increases in energy costs

You can find out more and apply for the scheme through Enterprise Ireland.

‘Warehousing’ of tax liabilities

Debts that are warehoused are subject to 0% interest for the warehoused period. The tax debt warehousing scheme was further extended for some businesses until 1 May 2024.

No interest was is payable up to 30 April 2023 on warehoused debt. Businesses that already paid interest on warehoused debt at 3% will get a refund from Revenue. Revenue is also offering flexibilities such as payment breaks and extended payment arrangements on a case-by-case basis.

Businesses have until 1 May 2024 to either:

  • Pay their warehoused debt in full, or
  • Engage with Revenue to repay the debt through a phased payment arrangement

Find more information on the Debt Warehousing Scheme from Revenue.

More information

You can get up to date information on the COVID-19 supports and guidance for businesses and employers on

The Department of Enterprise, Trade and Employment has an Enterprise Information Centre, with information on the Government supports available to businesses. Call (01) 631 2002, Monday to Friday from 9am to 5pm or email:

Page edited: 29 February 2024