SME Support Scheme in Limerick helps lower commercial rates arrears
Council proposes to renew scheme that gave support payments worth €55,820 to 431 individuals and companies
29 April 2015 | 0
Limerick City and County Council is proposing to renew a scheme which it says played a significant role in reducing the level of arrears on its commercial rate account during 2014.
The ‘Small and Medium Enterprise Support Scheme’, the first of its kind in Limerick, was introduced for the first time last year and resulted in support payments totalling €55,820 being made to 431 individuals and companies.
The actual commercial rates collected as a direct result of the scheme was in excess of €1.5 million, which the Council’s Finance Department says “contributed in no small way” in helping to reduce the level of arrears on the rate account at the end of 2014.
Tom Gilligan, director of services, Finance Department, said the support payments were also encouraging business growth.”We have been inundated with calls from customers requesting details of the scheme and wanting to obtain application forms. Given this positive level of feedback, the Finance Department is proposing to adopt a similar scheme for 2015 and intends bringing it to the Elected Members for approval at the next Council meeting,” he added.
The ‘Small and Medium Enterprise Support Scheme’, which operated in 2014, provided financial support to occupiers of commercial properties with a total annual commercial rate demand of up to and including €10,000 but not less than €750. The support payments, aimed specifically at small and medium-sized enterprises, ranges between €50 and €300 depending on the annual cost of commercial rates for the rate paying applicant.