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A new funding scheme in Limerick will see financial support being provided to occupiers of commercial properties throughout both city and county, in a bid to boost employment and help SMEs. Photo: iStock

Small and medium sized enterprises (SMEs) throughout Limerick have been buoyed by the launch of a new funding scheme by Limerick City & County Council. The Small and Medium Enterprise Support Scheme 2014, the first of its kind in the Limerick area, will see financial support being provided to occupiers of commercial properties throughout both city and county.

The scheme relates to SMEs with total annual commercial rates bills of up to and including €10,000, but not less than €750 in 2014. The support payments range between €50 and €300, depending on the annual cost of commercial rates for the rate paying applicant.

Tom Gilligan, Head of Finance, Limerick City & County Council said the new scheme will help to stimulate economic growth, generate employment and will ease the cost burden for SMEs in the county. "Despite the green shoots of recovery that have started to appear, local SMEs continue to operate in a very challenging environment. This newly introduced scheme forms a central part of the council's approach going forward as does our commitment to maintaining one of the lowest commercial rate multipliers in Ireland."

Supports being provided under the SME Support Scheme per Commercial Rate Account in 2014:

- Commercial Rates Invoice(s): €750 to €1,500 per annum = €50 per customer account; €1,501 to €3,000 per annum = €90 per customer account; €3,001 to €5,000 per annum = €150 per customer account; €5,001 to €7,000 per annum = €210 per customer account; €7,001 to €10,000 per annum = €300 per customer account.

Occupiers of commercial properties in Limerick, particularly SMEs, are being urged to familiarise themselves with the terms and conditions of the new scheme by visiting www.lcc.ie or www.limerickcity.ie.

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