01 July, 2020 / IN Economy / by Chad Stead
On 16 June, the NSW Government announced that it was rolling out further support for small business. This support follows the $10,000 small business support grant which closed on 30 June.
From 1 July, small businesses across NSW will be able to apply for funding of between $500 and $3,000 to help them meet the costs of safely reopening or upscaling their operations. These costs must be incurred from 1 July 2020 and can include:
- Business advice & continuity planning
- Cleaning products & additional cleaning services
- Fit-out changes
- Staff training & counselling
- Marketing, communications & advertising
If you have claimed the $10,000 support grant previously, you may also be eligible to apply for this $3,000 recovery grant.
Businesses and not-for-profits will be eligible if they:
- Have an Australian Business Number (ABN) as at 1 March 2020 registered in NSW
- Have total Australian wages below the NSW Government 2019-20 payroll tax threshold of $900,000 as at 1 March 2020
- Have fewer than 20 full-time equivalent (FTE) staff (including non-employing businesses) as at 1 March 2020
- Have an annual turnover of more than $75,000 as at 1 March 2020
- Have experienced a decline in turnover of at least 30% from March to July 2020 compared to the equivalent period (of at least 2 weeks) in 2019
- Are in a highly impacted industry as at 1 March 2020
- Have costs from 1 July 2020 associated with safely reopening or scaling up their business and can support these costs by providing invoices if required.
Click below to apply now.
Please note that the grant closes on 16 August, so if you need assistance in understanding if your eligible for this NSW small business recovery grant, contact us below for an assessment.