Latest COVID-19 support package announced
On 13 July, the NSW Government announced a comprehensive economic support package worth billions of dollars aimed at helping businesses and people right across the state fight through the current COVID-19 lockdown.
– The business grants program announced two weeks ago has been expanded, with grants between $7500 and $15,000 available to eligible businesses with annual wages up to $10 million.
– A new grant program has also been introduced for smaller micro businesses with turnover between $30,000 and $75,000.
Businesses will be able to apply for the grants through Service NSW from late July.
– Thousands of employees will also be protected with NSW committing half of a new $2.1 billion business and employee support program to be delivered together with the Commonwealth.
– Businesses will benefit from payroll tax waivers of 25 per cent for businesses with Australian wages of between $1.2 million and $10 million that have experienced a 30 per cent decline in turnover.
– The NSW Government will also cover the disaster recovery payments for areas outside the Commonwealth declared hotspot from week four of the NSW lockdown providing valuable support across the state.
– Commercial and retail landlords will need to attempt mediation before recovering a security bond, or locking out or evicting a tenant impacted by the Public Health Order.
More information will be available on the Service NSW website later this week.
Business Connect continues to help COVID-19 impacted businesses
Disruption can be overwhelming for small business owners. Business Connect advisors, located across NSW, can help them:
· develop a recovery strategy
· manage cashflow
· access finance
· reach new customers online
· connect to other support
Business Connect support is available free of charge* for small businesses who have been impacted by COVID-