NSW eligible small businesses, not-for-profits, and other business types that have fewer than 20 Full Time Equivalent (FTE) staff (including non-employing businesses, such as sole traders) as at 1 March 2020 can apply for recovery grants from $500 to $3,000.
Hurry as applications close on 16 August.
Here’s what to do:
Check your eligibility
To be eligible for this grant, you must as at 1 March 2020:
- be a small business or a not-for-profit organisation (see guidelines) based in NSW.
- 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. Please note that non-employing businesses can apply which means sole traders may also be eligible.
- 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). Be advised the list of industries is narrower than with the previous NSW $10,000 grants. Once your ABN is input into the online application it will give an initial indication of whether your business is eligible.
- have experienced at least a 30% decline in turnover from March to July 2020 compared to the equivalent period (of at least 2 weeks) in 2019. Please note that there are special rules that will apply to businesses that do not have a comparable reporting period.
- have costs associated with safely reopening or up-scaling your business from 1 July 2020.
Note: 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.
Check your eligibility at Service NSW.
You can also speak with a Business Concierge here. The Business Concierge can guide you through the requirements, saving you time and money.
Contact Studio Twofold for a free consult
After you have checked your eligibility, get in touch with Studio Twofold to schedule a free consultation to discuss design solutions you would like to implement.
Whether it’s updating your digital presence with a new website, running an advertising campaign or refreshing your brand with a new logo – we can walk you through your options to launch your business to the next level.