$10,000 grants for struggling NSW businesses
In April the NSW state government announced $10,000 grants as fast relief for NSW businesses that need it most. The new assistance scheme is for businesses struggling to cope with the COVID-19 shutdown, and is based on a similar scheme rolled out during the bushfires.
Premier Gladys Berejiklian said the “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.” To be eligible for the grant, businesses need to have fewer than 20 employees and meet other requirements detailed here.
Eligible businesses can apply for a grant of up to $10,000. These businesses must:
- Have between 1-19 employees and a turnover of more than $75,000;
- Have 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.
Read more here.
Please get in touch with us if you would like to discuss this grant or have any other business queries.