Power Up Scheme pays out over €7 million in Tipperary, says TD Michael Murphy

Fine Gael TD Michael Murphy has announced that €7,216,000 has been paid out in County Tipperary as part of the Power Up Scheme. The Power Up Scheme was announced as part of Budget 2025, and during the month of December, €153 million has been paid out nationwide, with many based in Tipperary benefitting.

Deputy Murphy said: “I was delighted to learn from my colleague Minister Peter Burke that almost €400 million has been paid this year to SMEs right across the country under the Power Up Grant and the Increased Cost of Business Scheme. In December alone, just 8 weeks after the Power Up scheme was announced, €7,216,000 has been paid to 1804 local businesses in County Tipperary.

“I know from dealing with local businesses that these grants have been of great support to SMEs, many of which are facing rising costs due to increases in electricity and other inflationary pressures. 38,000 businesses in the hospitality, retail and beauty sectors received the Power Up grant, including 1804 businesses in County Tipperary. Each eligible business received a €4,000 grant during the month of December, paid directly into their bank account and assisting with the pre-Christmas trading period.

Fine Gael Minister for Enterprise, Trade and Employment Peter Burke said: “The Increased Cost of Business Scheme and the Power Up Grant have been hugely successful this year. We have paid out €400 million this year alone to businesses across the country. This is a significant amount of money that has been directly targeted at our small, family-run businesses, that have a rates bill of under €30,000. These businesses are the backbone of our local economies and our communities.

“When Taoiseach Simon Harris took office in April this year, he prioritised support for our small businesses. I announced the SME package in June, with the Power Up Scheme established as part of Budget 2025. This scheme, which closed for applications on November 22nd, has now paid out €153 million to small businesses in December alone.

Minister of State for Business, Employment and Retail Emer Higgins said: “The €400 million paid out to our SMEs this year highlights that Fine Gael in Government is listening to businesses and is very aware of the challenges being faced by business owners. That is why my Department has focused on getting the Power Up Grant payments out to businesses as quickly as possible this year; within 8 weeks of the scheme being announced, with payments commencing 10 days after the scheme was closed to applications.

Minister Burke concluded: “As government negotiations progress, we are fighting to ensure our small business are supported and that any agreement on a programme for government contains further concrete measures to assist our SMEs”.