Small businesses in NSW will benefit from another economic stimulus package to help cope with the impacts of Covid-19 and aim at injecting cash into small business.

What is on offer?

The NSW Government will allow businesses to apply for grants of up to $10,000.

Eligible Businesses?

  • 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 ABN at 1 March 2020, be based in NSW and employ staff 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

How to Apply?

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.

Conclusion

As businesses are currently faced with a variety of cash flow problems due to shutdowns and restrictions, this stimulus package is aimed to help. Eligible businesses are urged to apply for the scheme and any other government scheme made available to them.

Let Us Help

 If your business has a turnover of over $1 million, ABJ Solutions is offering a complimentary 30 minute Zoom meeting to help answer questions and model critical decisions with you. Get in touch with us today so that we can help guide you through this challenging time.