Published on Jul 7, 2020
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Thousands of small businesses reopening across the State after the COVID-19 shutdown will benefit from funding of up to $3,000 under a new Small Business Recovery Grant.
The NSW Government announced the new recovery grants as the government shifts in direction from response to recovery and reform.
Many small business owners across the state have done it tough during the pandemic, with many impacted by bushfire and drought previously, therefore the cash injection will be welcomed as they ramp up the operations following hibernation.
Applications will open on 1 July to help businesses safely relaunch their operations with funds remaining from the $750 million Small Business Support Fund.
Business NSW members are encouraged to apply for the grant as it will help to kick start operations, re-engage staff and allow them to get back to the ‘new normal’.
Eligible businesses and not-for-profits must meet a range of criteria including:
- Australian Business Number as at 1 March 2020 registered in NSW
- total Australian wages below the NSW Government 2019-20 payroll tax threshold of $900,000 as at 1 March 2020
- fewer than 20 Full Time Equivalent staff (including non-employing businesses) as at 1 March 2020
- an annual turnover of more than $75,000 as at 1 March 2020
- experienced a decline in turnover of at least 30 per cent from March to July 2020 compared to the equivalent period (of at least two weeks) in 2019
- are in a highly impacted industry as at 1 March 2020. These industries were impacted by the COVID-19 Restrictions on Gathering and Movement Order 2020
- costs from 1 July 2020 associated with safely re-opening or scaling up their business
The grants can be used to cover marketing and advertising expenses, make fit-out changes and train staff in how to work safely under the current health conditions.
For businesses wanting to apply for the new grant it will be simple and easy, so businesses can focus on reopen safely and welcome back their customers.
Small business owners can also get advice from Business Connect advisors to help them innovate, pivot or take advantage of opportunities in the market.
The Small Business Recovery Grant can only be used for expenses from 1 July and where no other Government support is available.
Service NSW will launch the Small Business Recovery Grant online on 1 July and will accept applications until Sunday 16 August 2020 when the program will close.
More information will be made available on the Service NSW website closer to the launch.