Currently the NSW government is offering a grant of between $500 and $3000 to small businesses that have been adversely affected by the COVID-19 pandemic. This grant will help small businesses cover the cost of reopening or up-scaling operation expenses such as:
- Fit-out changes, for example, installing plastic barriers at checkouts
- Staff training and counselling
- Business advice and continuity planning
- Cleaning supplies
- Marketing and advertising
- Digital solutions such as websites and e-commerce software
Who is eligible?
This grant is available to businesses who as of the 1st of March have experienced a 30% decline in turnover from March to July 2020 compared to the equivalent period (or at least 2 weeks) in 2019 and;
- Were a small business or not-for-profit based in NSW
- Was registered with an ABN
- Has an annual turnover of $75,000 or more
- Employ less than 20 full-time staff
- Sit below the 2019-2020 payroll tax threshold of $900,000
- Be classified as a highly impacted by the Public Health Order 2020
- Have incurred costs in the process of upscaling or safely reopening the business from 1 July 2020.
If you have already received a COVID-19 small business grant of $10,000, you may also be eligible to apply for this grant.
How can I apply?
You can apply online at https://www.service.nsw.gov.au/transaction/apply-small-business-covid-19-recovery-grant
Applications are open until Sunday the 16th of August 2020.
If you require any assistance with this application or require further clarification, please contact the team at Waterford Accountants on (02) 4940 2800.
The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.