Simeoni News Update – NSW State Government to offer NSW businesses a $10k grant07th Apr 2020
New South Wales small businesses will soon be able to receive up to $10,000 to pay for overheads as the state government throws out an additional financial lifeline.
The NSW government has now pledged $750 million to help small businesses across the state deal with the economic impact caused by the coronavirus pandemic.
The grants of up to $10,000 must be used for funding unavoidable business costs such as utilities, overheads, legal costs and financial advice.
- Have between 1-19 employees and a turnover of more than $75,000;
- A payroll below the NSW Government 2019-20 payroll tax threshold of $900,000;
- Have an Australian Business Number as at 1 March 2020, be based in NSW and employ staff as at 1 March 2020;
- Be highly impacted by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020;
- Use the funding for unavoidable business costs such as utilities, overheads, legal costs and financial advice;
- Provide appropriate documentation upon application.
Applications for a small business grant of up to $10,000 will be available through Service NSW within a fortnight and remain open until 1 June 2020. “This is about getting cash into small businesses when they are struggling right now in the face of an unprecedented situation,” NSW Premier Gladys Berejiklian said.
“These grants will provide a big boost, and we will make the application process easy to ensure small businesses can receive some cash flow as soon as possible to meet pressing needs.” This is another Government stimulus payments to assist business stay alive during this crisis.
Paul Simeoni & Team