Bandon businessman Aidan Holland said 27 businesses had signed a petition committing to withholding rates if the Office of Public Works (OPW) does not have the scheme started by June 30th.
“We only started this on Tuesday and so far 27 businesses have signed up, pledging to withhold over €550,000 in rates if the work hasn’t started by then,” said Mr Holland.
“Every business that we have approached has signed the petition and there are over 200 businesses in Bandon so I would expect that we will exceed the €1 million mark in rates.”
Mr Holland said the campaign also intended approaching businesses in surrounding areas which might also be affected by flooding in the river Bandon, which flows east from Dunmanway.
OPW responsibility Mr Holland acknowledged that the OPW was the agency charged with carrying out the flood relief scheme but traders would hold Cork County Council accountable for any delays.
"Cork county manager Tim Lucey said work on the project would be started by the end of June and we are going to hold him to that and withhold rates if work hasn't started by then," Mr Holland said.
Meanwhile Gillian Powell of the Bandon Flood Group urged Cork County Council to carry out immediate dredging or excavation work on the bed of the Bandon before next weekend.
Ms Powell said the flood waters last weekend came within three inches of spilling over the quay walls and any work to lower the level of the river bed would be a huge help.
“Cork County Council staff have done a great job today removing trees and other debris from under the footbridge which were forming a dam and stopping the flow of water.
“I know the council will say dredging does nothing but last weekend, the river came within three inches of flowing over the wall so it was a very close run thing.”
A Cork County Council spokesman said it was not possible to carry out dredging or excavation work at this time of year because it would impact on the fishery in the river.