The package has been announced by the Premier and Treasurer as the lockdown begins to dramatically hit the bottom line of business owners.
“The package is particularly well targeted and will start to hit the accounts of business owners from next month,” said Business NSW Chief Executive Daniel Hunter.
“Business NSW has been working with the Government on this initiative since the lockdown was confirmed on Saturday, and by using the real experiences of our members, we were able to demonstrate the widespread need for a quick turn-around for this package,” Mr Hunter said.
“It’s often easy to sit back and criticise the Government but when they act quickly and for the benefit of business owners and their employees, they rightly deserve credit.
“This will be one of the fastest and largest business support packages from any state in Australia in response to the pandemic.
“For small businesses of 20 or fewer employees including sole traders, they’ll be eligible for grants of either $5000, $7000 or $10,000, depending on the nature of the loss in turnover they can demonstrate. A tourism or hospitality related business can claim the grants if its turnover is less than $10 million each year.
“In simple terms, non-Payroll Tax paying businesses who have suffered as a result of the lockdown can access a grant and have that in their account by mid to late July.
It’s often easy to sit back and criticise the Government but when they act quickly and for the benefit of business owners and their employees, they rightly deserve credit.
“This package is based on what was used on the Northern Beaches following the shutdown over Christmas and takes into account feedback from the Small Business Commissioner, impacted businesses and local chambers of commerce.
“This will provide enormous relief to business owners who’ve suffered so much over the past 15 months and were slowly starting to bounce back. This latest development has been a hammer blow to them and their confidence, but at least they know some support is on its way.
“They’ll take great comfort in knowing that some bills will be able to be paid by accessing these grants as soon as they become available.
“Larger businesses haven’t been ignored either, with a number of State Government taxes and charges deferred, with payments due later in the year.
“Dine & Discover vouchers will be extended until 31 August, and be able to be used at takeaway venues, so long as that food is delivered, and not picked up.
“We all want this lockdown to be over as soon as possible, so businesses can get back to doing what they do best, employing people and supporting their local communities,” Mr Hunter said.