The NSW Government has announced that small businesses impacted by COVID-19 shutdowns will receive grants of up to $10,000 under a new assistance scheme, mirroring the approach taken in the wake of the Australian bushfire crisis earlier this year which provided $42 million to 4,200 businesses within the first ten days of launching.
The State Government will add $750 million into the Small Business Support Fund as part of a third wave of stimulus measures.
The grants will go to small businesses like restaurants, venues, gyms and bars that have been forced to shut because of social distancing measures imposed by the Federal Government. The eligible industries include retail trade; accommodation and food service; rental, hiring and real estate services; administrative and support services; and arts and recreation services.
The application form will be available on the Service NSW website by 17 April.
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.