If you have been affected by the recent COVID-19 restrictions and stay at home orders you may be eligible for financial assistance and support. We have outlined what is currently available for small business at this time below;
For employing entities who can demonstrate a 30% decline in turnover a payment of between $1,500 and $10,000 per week depending on your payroll. Employees must have been maintained.
We are waiting on further information to define what retaining employees means and how we calculate the amount receivable. The percentage of decline will be calculated based on a two-week comparison period from 2019 to the current 2021 year from 26th June. (i.e income from 1st July 2019 to 14th July 2019 compared to the same two week period in 2021.)
For non-employing entities (i.e., Sole Trader) who can demonstrate a 30% decline in turnover a payment of $1,000 per week may be claimable.
COVID-19 Business Grant
This grant is available to assist with business expenses such as rent, utilities and wages for which no other government support is available for businesses with a turnover of greater than $75,000 based on the following;
- $7,500 for a decline of 30% or more
- $10,500 for a decline of 50% or more
- $15,000 for a decline of 70% or more
COVID-19 Micro Business Grant
This grant is available to assist with business expenses such as rent, utilities and wages for which no other government support is available for businesses with a turnover of less than $75,000 which will be a fortnightly payment of $1,500 of restrictions.
** Please note that we currently do not have any data on the eligibility criteria for the above grants and note that they cannot be accessed until 19th July.
This above assistance will be delivered via Service NSW and you will be required to have a Service NSW account and have a business profile linked to your account in order to apply for any assistance you may be eligible for at this time.