Business owners, sole traders and not-for-profit organisations in NSW that have suffered loss of income during the recent COVID-19 restrictions may be eligible for a one-off grant of $7,500, $10,500 or $15,000. There is an expanded criteria to assist small businesses, hospitality and tourism operators.
Sole traders and businesses in regional NSW that are affected by the lockdown are eligible for the grants should they meet all relevant eligibility criteria.
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, or
• Other activities to support the operation of the business.
While some of the finer details are yet to be released, such as proof of decline in turnover and eligibility for businesses that were not trading in June/July 2019, businesses can start assessing eligibility for the support package now.
Applications can be made through Service NSW. Further, small businesses affected by the current COVID-19 lockdown and restrictions are encouraged to seek free-of-charge advice from the NSW Government’s business advisory service Business Connect.
“While some businesses have had to shut their doors to comply with the Public Health Orders, others are experiencing reduced foot traffic and challenges with cashflow, paying rent and wages,” said Minister for Finance and Small Business Damien Tudehope.
In addition to helping small businesses, Business Connect can also assist medium enterprises and in some circumstances, social enterprises and not-for-profit organisations, if eligible.