Small and medium businesses in the retail and hospitality sectors are to receive grants of up to €5,000 under a new round of the Increased Cost of Business scheme.

The package of supports, which will be launched by Minister for Enterprise Peter Burke, will also increase the maximum amount available under the Energy Efficiency Grant for small businesses to €10,000.

From today (May 15), the Increased Cost of Business scheme will open for a fortnight for any business which did not register to date.

Minister Burke is also set to announce a change to the PRSI threshold from €441 to €496 from next October. The change will ensure businesses with staff earning the minimum wage will pay a lower rate of employer PRSI at 8.8%.

Minister Burke is to review new ERSI research on the impact of statutory sick leave before deciding on further increases. The number of statutory sick leave days had been due to increase from the current five days to ten days by 2026.