The NSW Government is offering small businesses the opportunity to apply for a small business recovery grant to help with safely reopening after the Covid-19 shutdown.

What is on offer?

Under the new Small Business Recovery Grant, small businesses will be able to apply for funding of up to $3,000.

Applications will open from 1st July 2020 until 16th August 2020.

Who is eligible?

To be eligible for this grant, you must:

  • Be based in NSW
  • Be a small business
  • Be registered with an ABN
  • Have an annual turnover of more than $75,000 (BAS must be provided as evidence)
  • Employ less than 20 FTE staff
  • Be able to report a payroll below the $900,000 threshold
  • Be in a highly impacted industry by the Public Health Order
  • Have experienced at least 30% decline in turnover from March to July 2020 compared to the equivalent period (of at least 2 weeks) in 2019
  • Have costs associated with safely reopening or up scaling your business from 1st July 2020

Note: If you have received Covid-19 small business support of up to $10,000, you may also be eligible to apply for the $3,000 Covid-19 small business recovery grant.

What can funds be used for?

The grant helps small businesses meet the costs of safely reopening or up-scaling operations and these expenses include, but are not limited to:

  • Fit-out changes
  • Staff training and counselling
  • Business advice and continuity planning
  • Cleaning products and additional cleaning services
  • Additional equipment necessary to comply with social distancing or other public health measures
  • Marketing, communications, and advertising
  • Digital solutions

This grant can only be used for purchases of eligible expenses made from 1st July 2020, and only when no other government support is available.

How to Apply

Applications will open on the Service NSW website from 1st July 2020.

Conclusion

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

Stay on top of your finances and available Government initiatives, with updates posted regularly on our website www.abjsolutions.com.au/covid-19-financial-assistance-library/.

Let Us Help

If your business has a turnover of over $1 million, ABJ Solutions is offering a complimentary 1 hour 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 these challenging times.