fiona.png
spreads (7).gif

$10,000 grants to provide fast relief for NSW small businesses battling COVID-19

Thousands of small businesses across NSW struggling to cope with the COVID-19 shutdown will receive grants of up to $10,000 under a new assistance scheme announced by Premier Gladys Berejiklian, Treasurer Dominic Perrottet and Minister for Finance and Small Business Damien Tudehope.

The NSW Government will put $750 million into the Small Business Support Fund as the centrepiece of a third wave of support measures to keep small businesses afloat.

Ms Berejiklian said the new fund was based on the hugely successful scheme rolled-out during the recent NSW bushfires, which provided $42 million to 4200 businesses within the first ten days of launching.

“This is about getting cash into small businesses when they are struggling right now in the face of an unprecedented situation,” Ms Berejiklian said.

These grants will provide a big boost, and we will make the application process easy to ensure small businesses can receive some cash-flow as soon as possible to meet pressing needs.” 

Mr Perrottet said the fund was designed to provide help fast and would benefit tens of thousands of businesses across NSW.

“Many local cafés, restaurants, corner shops, gyms and small accommodation providers will be eligible to apply,” Mr Perrottet said.

“We have the structures in place after the bushfires and expect to see this money rolling out the door shortly.”

“This is real, rapid relief for tens of thousands of businesses and it will help ensure many businesses that are not eligible for payroll tax waivers and deferrals can live to trade another day.”

Mr Tudehope said the fund would offer a vital lifeline for businesses across NSW.

“This is the largest support package for small businesses in the history of NSW, it will make a huge difference to many lives,” Mr Tudehope said.

To be eligible, businesses will need to:

  • Have between 1-19 employees and a turnover of more than $75,000;

  • A payroll below the NSW Government 2019-20 payroll tax threshold of $900,000;

  • Have an Australian Business Number as at 1 March 2020, be based in NSW and employ staff as at 1 March 2020;

  • Be highly impacted by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020;

  • Use the funding for unavoidable business costs such as utilities, overheads, legal costs and financial advice;

  • Provide appropriate documentation upon application. 

Applications for a small business grant of up to $10,000 will be available through Service NSW(external link) within a fortnight and remain open until 1 June 2020.

This latest move follows two assistance packages from NSW in the past fortnight, whose combined value far exceeds the support offered by any other state, including:

  • More than $5 billion in payroll tax waivers, deferrals and other tax deferrals;

  • A $1 billion Working for NSW fund to create jobs; 

  • $700 million in additional funding for the health system; 

  • $250 million to bring forward capital works and maintenance on public assets;

  • $500 million to bring forward capital works, maintenance and shovel ready infrastructure projects;

  • $80 million to waive a range of fees and charges;

  • $80 million to help the vulnerable through a range of measures.

source: https://bit.ly/34wZS1K


COMMENTS : Due to the risks associated with comments from unidentified contributors that expose The Beagle to possible legal actions under the NSW Defamation Act 2005 No 77 anonymous or Nom de Plume comments will not be available until an alternate system of author verification can be investigated and hopefully installed.

Those who provide their REAL NAME (first name AND Surname) and a verifiable email address (it won't be published) are invited to comment below. (yes it is a pain but please comply - it would be a  shame to see your comment deleted)

Those contributors KNOWN to us and verified may continue to use their First Name for ease. The primary need for all of this is due to traceability should a legal action arise.

If you need anonymity email us via our normal or encrypted email accounts


Please note that if you are looking for a previous comment that is no longer visible please contact us.