What does the grant support?
The aim of the Small Business Recovery Grant is to help small businesses pay for changes in operations that allow them to safely reopen.
The grant offered is between $500 and $3000, and can only be used for eligible purchases made from 1 July 2020 where no other government support is available.
An outline of the expenses covered on the Service NSW page include, but are not limited to:
- changes to fit-outs and temporary physical changes eg. plastic barriers at checkouts
- 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 eg. e-commerce or business websites.
What is the Eligibility Criteria?
It's important to note that if you have received a COVID-19 small business support grant of up to $10,000, you may also be eligible to apply for the $3000 COVID-19 small business recovery grant.
As outlined by Service NSW, to be eligible for this grant, as at 1 March 2020 you must:
- be a small business or a not-for-profit organisation based in NSW (see guidelines)
- have an ABN registered in NSW (make sure all your business details are up to date on the Australian Business Register - this is used to determine eligibility)
- 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 less than 20 full-time equivalent (FTE) staff (non-employing businesses can apply)
- be able to report a payroll below the NSW 2019-2020 payroll tax threshold of $900,000
- be in a highly impacted industry by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 (see guidelines)
- 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 1 July 2020.
How do I apply?
You can apply via the Service NSW website and can only submit one application for each business. This is an overview of what you will need to have ready, as you cannot save and resume your application once you have started:
- a MyServiceNSW Account
- your proof of identity
- your valid ABN/ACN number
- your business banking details for payment
- latest Business Activity Statement (BAS).
In addition, you will need to provide a declaration that you meet the eligibility criteria, including at least a 30% decline in turnover from March to July 2020 compared to the equivalent period (of at least 2 weeks) in 2019.
Businesses affected by drought or other natural disaster must compare turnover for a period in March to July 2020 (of a minimum 2 weeks) to the turnover experienced in the same period in the year immediately preceding the year the business was affected by the drought or disaster. See the guidelines for more information.
What happens after I apply?
Once your application is received by Service NSW, it will be reviewed for eligibility. If your application is approved, Service NSW advises payment will be transferred within 5–10 business days from the date it's approved to your nominated business account.
To discuss the above grant in more detail our team is available to assist you. Please don't hesitate to talk with us online or call (02) 4229 2211.