What does the grant support?
The Small Business Grant is aimed to support the ongoing operations of small businesses highly impacted from the COVID-19 pandemic following the NSW Public Health Order of 31 March 2020. The grant may only be used for unavoidable business expenses that are not supported by other government funding. Unavoidable expenses include, but are not limited to:
- council rates
- telephone charges
- insurance payments
- professional advice
- wages for an employee not eligible for JobKeeper payments
- franchise fees
- paying creditors, if you business is closing.
What is the Eligibility Criteria?
As outlined by Service NSW, to be eligible you must:
- be a small business (see guidelines)
- be registered with an ABN as at 1 March 2020
- have an annual turnover of more than $75,000 (a Business Activity Statement must be provided as evidence)
Where a small business does not submit a BAS to the Australian Tax Office, and meets all other criteria, the small business should contact Service NSW to discuss further. In these cases, an income tax declaration may be accepted as evidence of an annual turnover of $75,000.
- employ 1-19 full-time workers as at 1 March 2020
- be able to report a payroll below the NSW 2019-2020 payroll tax threshold of $900,000
- have been highly impacted by Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 effective on 31 March 2020
have unavoidable business costs not otherwise the subject of other NSW and Commonwealth Government financial assistance measures.
What if my business isn't in a highly impacted industry?
If your business is not in a highly impacted industry (as listed in the guidelines) but you can demonstrate a significant disruption to your business resulting in a 75% reduction in turnover as a result of the Public Health Order 2020, you may be eligible for this grant. You will require a letter from your accountant confirming you meet a number of criteria (refer to the guidelines).
I am a Sole Trader, am I eligible?
If you are a sole trader, have 1-19 employees and you meet all other eligibility requirements, you will be eligible. If you do not employ staff, you will not be eligible.
How Do I Apply?
You can apply via the Service NSW website. The Guideline provides a step-by-step guide on what is included in the application process.
If you would like to discuss the above details our team is available to assist you. Please don't hesitate to talk with us on (02) 4229 2211 or you can send us your enquiry online.