The NSW government announced a further economic measure to assist businesses through navigating the challenging COVID-19 period. This announcement was aimed at small businesses including cafes, restaurants and gyms that have been directly impacted by the restrictions in place during the coronavirus crisis.
This will involve $10,000 grants for businesses that have an annual turnover above $75,000 AND have up to 19 employees. NSW Premier Gladys Berejiklian has said the government will “make the application easy and simple to ensure businesses can receive some cash flow as soon as possible to meet pressing needs”.
To be eligible businesses must meet the following criteria:
- Operates in an industry highly impacted by the Public Health Order 2020 issued 30 March (listed below) and has suffered a decline in turnover of 75%
- Retail trade
- Accommodation and food service
- Rental, hiring and real estate services
- Administrative and support services
- Arts and recreation services
- Has between 1-19 employees and an annual payroll below $900,000 (the NSW payroll tax threshold)
- Has an annual turnover of more than $75,000
- Was registered with an ABN at 1 March 2020
- Has an Australian Business Number and employs staff in NSW at 1 March 2020
- Has unavoidable fixed costs not otherwise the subject of other NSW and Commonwealth Government financial assistance measures.
Businesses that meet the criteria can apply for this grant through Service NSW website from April 17th 2020.
If you have any questions or require assistance apply for or assessing eligibility, please contact us.
