New recovery grant to help small businesses post COVID-19
Thousands of small businesses reopening across the state after the COVID-19 shutdown are set to benefit from funding of up to $3000 under a new Small Business Recovery Grant.
Applications will open on July 1 to help businesses safely relaunch their operations with funds remaining from the $750 million Small Business Support Fund.
The state's peak business organisation, Business NSW, says the announcement the grants following the pandemic was a great show of support for the engine room of our state economy.
"Many have had to lay off staff and are struggling to just survive. They will certainly appreciate this new support package from the Government as they ramp up their operations following hibernation," Mrs Laverty said.
"Business NSW will be encouraging all of our member businesses to apply for the grant as it will help to kick start their operations, re-engage staff and allow them to get back to running their business in the 'new normal'.
"The application process for this grant commences the day after the current $10,000 Small Business Grant program closes, showing that the Government is acutely aware of the plight of the hundreds of thousands of small business owners, and their employees, across NSW."
NSW Treasurer Dominic Perrottet announced the new recovery grants today after delivering an economic update to the NSW Parliament as the Government moves from response to a "Recovery and Reform" footing.
"Our collective prosperity has always been built on hard work, and creating jobs is the number one priority of the NSW Government," Mr Perrottet said.
"Today we signal to the people of NSW a shift in direction, from response to recovery. It's time to get the show back on the road. Keeping people in jobs and businesses in business is at the heart of everything we are doing."
The $10,000 Small Business Support Grant closes on 30 June and so far more than 49,700 businesses have applied for the grants worth more than $490 million.
Business NSW CEO Stephen Cartwright said small business owners across NSW have done it tough during the pandemic, with many impacted by bushfires and drought prior to that.
"They will certainly appreciate this new support package from the Government as they ramp up their operations following hibernation," he said.
"Business NSW will be encouraging all of our member businesses to apply for the grant as it will help to kick start their operations, re-engage staff and allow them to get back to the 'new normal'."
The Small Business Recovery Grant can only be used for expenses from July 1 and where no other Government support is available. More information will be made available on the Service NSW website closer to the launch.