There's good news for small businesses across New South Wales.
They are set to receive grants of up to $10,000 in the latest support package announced by the State Government.
The NSW Government will put $750 million into the Small Business Support Fund.
This will act as the centre piece of a third wave of support measures to keep small businesses afloat.
It will replicate a similar model rolled out during the bushfire crisis, which provided $42 million to 4200 businesses within the first ten days of launching.
Premier Gladys Berejiklian said the latest package was about providing quick cash injections to businesses.
"This is about getting cash into small businesses when they are struggling right now in the face of an unprecedented situation.
"These grants will provide a big boost, and we will make the application process easy to ensure small businesses can receive some cash-flow as soon as possible to meet pressing needs," she said.
Treasurer Dominic Perrottet said that the government expects the money to start flowing through to businesses shortly.
"Many local cafés, restaurants, corner shops, gyms and small accommodation providers will be eligible to apply.
"We have the structures in place after the bushfires and expect to see this money rolling out the door shortly.
"This is real, rapid relief for tens of thousands of businesses and it will help ensure many businesses that are not eligible for payroll tax waivers and deferrals can live to trade another day," he said.
Applications for a small business grant of up to $10,000 will be available through Service NSW next week and will remain open until 1 June 2020.
To be eligible, businesses will need to:
- have between 1-19 employees and a turnover of more than $75,000
- a payroll below the NSW Government 2019-20 payroll tax threshold of $900,000
- have an Australian Business Number as at 1 March 2020, be based in NSW and employ staff as at 1 March 2020
- be highly impacted by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020
- use the funding for unavoidable business costs such as utilities, overheads, legal costs and financial advice
- provide appropriate documentation upon application.
The package is similar to grants available in Victoria and Western Australia.