New Recovery Grants to Help Small Business Reopen in a Post COVID World
The Grant applications will open 1 July 2020 and are available to assist businesses who have closed and are coming back to business, or businesses that had to reduce the capacity of their businesses, due to the COVID-19 pandemic.
Minister for Finance and Small Business, Damien Tudehope stated “We are getting NSW back to business by helping entrepreneurs and mum and dad owners to relaunch and revitalise their businesses, the grants can be used to cover marketing and advertising expenses, make fit-out changes and train staff in how to work safely under the current health conditions.."
This new grant will be open for applications as of 1 July 2020, and businesses that meet the following criteria will be able to apply:
- Australian Business Number 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 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 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 re-opening or scaling up their business.