To ease the pressure on thousands of small businesses that have been affected by the COVID-19 pandemic, the NSW Government has announced the $10,000 COVID-19 Small Business Support Grant as part of the NSW Government Small Business Support Fund.
The NSW Government has put aside $750 million into the Small Business Support fund for this purpose. About 75,000 highly impacted businesses including small cafes, restaurants, corner shops, gyms and small accommodation providers will be able to apply for the grant announced last week.
A grant of up to $10,000 is available for Eligible Small Businesses, which can be used to meet unavoidable expenses that will not be eliminated if the small business is closed. (For example, utility expenses, Council rates, insurance payments or wages for employees not eligible for the Commonwealth JobKeeper Payment Program.)
To be an Eligible Small Business, you must:
be on the list of ‘highly impacted businesses’ (see the list set out at the end of this media release); have between 1-19 employees and an annual turnover of more than $75,000; have total Australian wages below the NSW Government 2019-20 payroll tax threshold of $900,000; have an ABN as at 1 March 2020, be based in NSW and employ staff as at 1 March 2020; and be ‘highly impacted’ by the NSW Government Covid-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020.This is defined as a decline in turnover of 75 per cent compared to the equivalent period (of at least two weeks) in 2019.
Where your business was not in operation in 2019, or where your turnover in 2019 was not representative of your usual or average turnover, the administrating agency will have discretion to consider additional information that you can provide to establish you have been significantly affected by the impacts of the COVID-19. This is particularly relevant for businesses in the Moree Plains Shire community where 2019 turnover was significantly drought affected.
(For small businesses that are not on the list of ‘highly impacted industries’, a letter from your accountant confirming the decline in turnover will be required.)
In applying for the grant, Eligible Small Businesses are required to:
certify that they meet the Eligibility criteria; provide a BAS to demonstrate that the business has an annual turnover of $75,000; and lodge supporting documents as may be required to demonstrate that they meet the eligibility criteria.Since applications opened this Monday 13 April, 2,500 small businesses have received this grant.
Applications are open until 1 June 2020. Service NSW will implement the grant on behalf of the NSW Government, with the Moree Service NSW office now open until 4pm each weekday to assist applicants. Alternatively, small businesses can seek advice directly by calling Service NSW 13 77 88.
After the prolonged drought, it is a difficult time for small businesses in the Moree Plains community.
List of Highly Impacted Businesses
Council encourages all small businesses to take advantage of this assistance.
Because of the impacts of drought on local small businesses, we are interested in understanding local businesses who have been successful in applying for this grant and any issues local businesses have faced in making this application so feedback can be provided to the NSW State Government.
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