RGDATA Raises High Business Costs with Minister Richmond

RGDATA Raises High Business Costs with Minister Richmond
Minister for Retail tells RGDATA he's committed to getting insurance premiums reduced

RGDATA Director, Tara Buckley met with Minister Richmond last week to highlight retailers concerns about the impact of rising employment costs on the viability of RGDATA member shops. Buckley also pointed out that the promised economic assessment that has still not been published.

RGDATA wrote to the Minister requesting the meeting: “We understand that the Department’s review of the impact of recent increases in business costs on SME businesses has been completed and we are disappointed that it has yet to be published despite being promised that this would happen before the end of 2023. As a number of RGDATA members inputted confidential data to the Department for the purposes of the Study, we would welcome an opportunity to meet with you in advance of the publication of the Report to learn of its findings and any recommendations. We understand that meetings have been facilitated with other sectoral groups and would welcome similar engagement. It will also provide us with an opportunity to update you on the challenges that are facing our members in increasingly challenging trading conditions.

Increased Cost of Business Scheme

The Increased Cost of Business Scheme (ICOB) was announced as part of the Budget 2024 package to help businesses with business costs and benefits Small and Medium sized businesses who operate from a rateable premises. The grant will give businesses back half of what they paid for in commercial rates in 2023, if they paid up to €10,000. Businesses who paid between €10,000 and €30,000 get a grant of €5,000. The grants will be available through local authorities and there is no formal application process, businesses will be contacted directly by their local authority.