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Insights

Earlier this year the New South Wales Government announced Small Business Recovery Grant in order to help provide some relief for NSW businesses hit hardest by COVID-19.

As at March 2020, eligible small businesses, not-for-profits, and other business types that have fewer than 20 Full Time Equivalent staff (including non-employing businesses, such as sole traders) as at 1 March 2020 can apply for recovery grants of $500 to $3000.

In order to be eligible, business must be able to provide evidence of a decline in turnover of at least 30 per cent from March to July 2020 compared to the equivalent period (of at least 2 weeks) in 2019.

The cash boost is intended to help small businesses get ‘back to business’ by meeting the costs of safely reopening or upscaling operations, which may require:

  • making fit-out changes
  • providing staff training and counselling
  • covering advertising and communications expenses
  • purchasing cleaning products or services

Importantly, the grant can only be used for purchases of eligible expenses made from 1 July 2020, where no other government support is available.

If you think your business could be eligible, we recommend confirming your eligibility and applying online with Service NSW before 11:59pm AEST on Sunday 16 August 2020.