Applications now open for NSW Small Business COVID-19 Recovery Grant
Applications are now open for the latest grant on offer by the NSW Government – the NSW Small Business COVID-19 Recovery Grant. Eligible businesses can access between $500 and $3,000 to help meet the costs for safely reopening or scaling up operations.
Here is the eligibility criteria for businesses and not-for-profits. They must:
- 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 per cent 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. These industries were impacted by the COVID-19 Restrictions on Gathering and Movement Order 2020;
- have costs from 1 July 2020 associated with safely reopening or scaling up their business.
It’s important to note that if your business is not one of the industries included in the list of highly impacted industries and you were still able to secure the NSW Small Business Support Grant of $10,000 you should be eligible. If unable to complete your application online we recommend you contact Service NSW for further assistance on 13 77 88.
This grant is for expenses incurred from 1 July 2020 and the funds must be used on costs associated with reopening or scaling up your business, see examples below:
- fit-out changes and temporary physical changes (for example, plastic barriers at checkouts);
- staff training and counselling (for example, health & safety risks and mitigation strategies);
- 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 (for example, to let the community know the business is operating again); and
- digital solutions (for example, e-commerce or business websites).
When applying for the grant you will be asked to nominate the amount of the grant you wish to apply for, ranging between $500 and $3,000. Keep in mind that you will need to retain all tax invoices, official receipts, bank statements or similar records to show grant monies have been used to purchase items specifically for the purposes of the grant, as the business may be audited. Also, you can only submit one application for a small business recovery grant of up to $3,000 for each business.
Please get in touch if you need any help with your application or have any questions.