Small Business COVID-19 Support Grant
The NSW Government has announced a major new grants package to help tens of thousands of Small Businesses, Sole traders, Not-for-profits, Tourism, hospitality and Regional NSW businesses across NSW impacted by the current COVID-19 restrictions. The package includes grants of between $5000 and $10,000.
What can the grants be used for:
Grant funds can be used for business expenses for which no other government support is available, for example:
• meeting business costs, including utilities, wages and rent
• financial, legal or other advice to support business continuity planning
• marketing and communications activities to develop the business
• the cost of perishable goods that can no longer be used
• other activities to support the operation of the business.
Eligible businesses receiving either the Small Business Grant or the Hospitality and Tourism Grant can receive:
• $10,000 for a decline in turnover of 70%, or more
• $7000 for a decline in turnover of 50%, or more
• $5000 for a decline in turnover of 30%, or more
To apply, businesses will need to compare their turnover over a minimum two-week period after lockdown commenced, to a minimum two-week period in June and/or July 2019.
Businesses that were not operating in June/July 2019 may still be able to apply for the grants. These businesses should contact Service NSW to discuss their application.
Eligibility criteria.
The grants will be divided into two streams:
Small business
• have fewer than 20 FTE (including non-employing businesses)
• have an Australian Business Number (ABN) registered in NSW or can demonstrate they are physically located and primarily operating in NSW. Only one grant is available for a single ABN
• have total Australian annual wages below the NSW Government 2020-2021 payroll tax threshold of $1,200,000 as at 1 July 2020
• have an annual turnover of more than $75,000 as at 1 June 2021
• have not applied for, or received, the Hospitality and Tourism COVID-19 Support Grant
• have business costs for which there is no other government support available
(Full criteria will be available in coming days on the Service NSW website).
Tourism and hospitality businesses will be eligible for a Hospitality and Tourism COVID-19 Support Grant if they:
• have an ANZSIC code that is classified as a tourism or hospitality business
• have an Australian Business Number (ABN) registered in NSW or can demonstrate they are physically located and primarily operating in NSW. Only one grant is available for a single ABN
• have total annual Australian wages below $10 million as at 1 July 2020
• have an annual turnover of more than $75,000 as at 1 June 2021
• have not applied for, or received, a 2021 Small Business COVID-19 Support Grant
• have business costs for which there is no other government support available
(Full criteria will be available in coming days on the Service NSW website).
Sole traders and not-for-profits can apply if they have turnover over $75K and meet all other eligibility criteria.
Regional businesses can apply if they have been impacted by the public health restrictions, given school holidays are an important trading period for businesses across NSW.
More information on the small business support grants package will be available shortly on the Service NSW website.
Applications for grants must be made through Service NSW, with the application process due to go live later in July 2021.
If you would like to read more on this topic, here are some links to the above information.
https://www.nsw.gov.au/covid-19/businesses-and-employment/grants-and-loans/2021-covid-19-support-package
https://www.nsw.gov.au/media-releases/major-new-covid-19-support-package-to-help-tens-of-thousands-of-businesses-across
https://www.service.nsw.gov.au/transaction/apply-covid-19-business-support-grant
