NSW Government New $3k Grants for Small Businesses.
From 1 July, the NSW Government will give further support to small businesses of between $500 and $3,000 to assist in safely reopening or upscaling their operations. These costs must be incurred from 1 July 2020. They can include business advice & continuity planning, cleaning products & additional cleaning services, fit-out changes, staff training & counseling, marketing, communications, and advertising.
This new grant comes as the NSW state government’s previous $10,000 grant comes to a halt at the end of the 2020 financial year. The first grant was taken up by 49,000 businesses totalling $490 million of support given by the NSW state government. This comes from a $750 million funding pool, in which the new grant will be funded.
Note if you have claimed the first $10,000 support grant previously you may also be eligible for this $3,000 recovery grant. To be eligible your business or not-for-profit will need to;
- Have an Australian Business Number (ABN) as at 1 March 2020 registered in NSW
- Have total Australian wages below the NSW Government 2019-20 payroll tax threshold of $900,000 as at 1 March 2020
- Have fewer than 20 full-time equivalent (FTE) staff (including non-employing businesses) as at 1 March 2020
- Have an annual turnover of more than $75,000 as at 1 March 2020
- Have experienced a decline in turnover of at least 30% from March to July 2020 compared to the equivalent period (of at least 2 weeks) in 2019
- Are in a highly impacted industry as at 1 March 2020
- Have costs from 1 July 2020 associated with safely reopening or scaling up their business and can support these costs by providing invoices if required
If you are eligible, please apply online here.
Please note that the grant closes on 16 August, so if you need assistance in understanding if you are eligible for this NSW small business recovery grant, please contact us on 02 9415 1511 or email us.