$10,000 in Fast Relief for Small Business Battling COVID-19
Thousands of small businesses across NSW struggling through COVID-19 will receive grants of up to $10,000 under a new assistance scheme announced today by Premier Gladys Berejiklian, Treasurer Dominic Perrottet and Minister for Finance and Small Business Damien Tudehope.
Member for Manly James Griffin welcomed the $750 million Small Business Support Fund as the centrepiece of a third wave of support measures to keep small businesses afloat across Manly and the Northern Beaches.
“Whether we have waived payroll tax and other charges or now providing $10,000 for small businesses, we have worked quickly to adapt to the changing economic environment,” Mr Griffin said.
“Our Small Business Support Fund is based on the highly successful scheme rolled-out during the bushfire season, and it’s about getting cash into the hands of small business right now.
“Many of our local cafes, restaurants, gyms and fitness studios on the Northern Beaches have adjusted to the health guidance and moved their businesses online, this funding will help them keep the lights on and help keep people employed.
“The application process will be easy and done through our one-stop-shop Service NSW.”
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 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