The NSW Government is throwing a financial lifeline for around 75,000 small businesses as the coronavirus pandemic continues to wreak havoc on our economy.
If you’re a small business owner and you run perhaps a café, restaurant or gym, and you’ve been severely affected, you will be able to apply for a grant of $10,000.
But the downside, is that you won’t be able to apply until 17 April. And, the government has not outlined whether industries outside of hospitality and gyms can apply for the grant.
Premier Gladys Berejiklian said the grands will provide some relief for businsses struggling during this period.
“This is about getting cash into small businesses when they are struggling right now in the face of an unprecedented situation,” she said.
These grants will provide a big boost, and we will make the application process easy to ensure small businesses can receive some cash-flow as soon as possible to meet pressing needs.”
While the details are still vague and what you need to apply, here is a list of whether you are eligible for the grant.
- It operates in an industry highly impacted by the Public Health Order and has suffered a decline in turnover of 75 per cent
- Has between one and 19 employees and an annual payroll below $900,000
- 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.
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.