NSW government launches new round of Small Business Recovery Grants

A new round of applications for the NSW government’s Small Business Recovery Grants are now open to help businesses safely relaunch their operations. The grant is designed to help fund businesses’ marketing and
advertising expenses as well as any interior changes and staff training to ensure a Covid-19 preventative work environment.

Roughly $260,000 worth of funds remain from the Small Business Support Fund. This remaining amount is expected to be disbursed among eligible businesses, after the government allocated some $490 million to 49,700 businesses under its first grant program.

“The existing grant program has proven very popular, with around 35,000 businesses receiving relief to cover expenses such as rates and phone bills,” Minister for Customer Service Victor Dominello said.

“Applying for this new grant will be simple and easy, so businesses can focus on reopening safely and welcoming back customers.”

Minister for Finance and Small Business Damien Tudehopes stated the new grants are aimed at helping businesses turn their lights on, and open their doors to welcome back customers and clients.

“We are getting NSW back to business by helping entrepreneurs and mum and dad owners to relaunch and
revitalise their businesses,” Mr Tudehope said.

Business NSW CEO Stephen Cartwright has applauded this move saying that businesses will welcome this new support package as they revitalise their operations following a period of dormancy.

“Small-business owners across the state have done it tough during the pandemic, with many impacted by bushfires and drought prior to that. Many have had to lay off staff and are struggling to just survive,” Mr Cartwright said.

“This support from the government will encourage more regional businesses to explore their exporting options and get the right advice and assistance to assess the best channels to market for their products.”

The Small Business Recovery Grant can only be used for expenses from 1 July and where no other government support is available.

Eligible businesses and not-for-profit organisations must meet a range of criteria to apply for the grant including
the following:

  • Australian Business Number as at 1 March 2020 registered in NSW.
  • Have total wages paid in Australia below the NSW government 2019–20 payroll tax threshold of $900,000
    as at 1 March 2020.
  • Have less than 20 full-time equivalent staff (including non-employing businesses) as at 1 March 2020.
  • Have an annual turnover greater than $75,000 as at 1 March 2020.
  • Have experienced a decline in turnover of at least 30 per cent from March to July 2020 compared to the equivalent period (of at least two weeks) in 2019.
  • Are in a highly impacted industry as at 1 March 2020. These industries were impacted by the COVID-19 Restrictions on Gathering and Movement Order 2020.
  • Have costs from 1 July 2020 associated with safely reopening or scaling up their business.

Applications for the Small Business Recovery Grant are made available online through Service NSW. Applications will be accepted until Sunday, 16 August 2020, when the program will close.

Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.