2021 COVID-19 grants for NSW businesses
As necessary as it is, it’s disheartening to hear the COVID-19 lockdown across large parts of New South Wales has been extended until the end of July.
Consequently, many businesses will lose revenue or be forced to close temporarily — but there is a bright spot amid the gloom.
The New South Wales Government’s previously announced Small Business COVID-19 Grant has been increased and expanded to include more businesses impacted by the recent COVID-19 restrictions and stay-at-home orders.
If you’re an impacted business, sole trader or not-for-profit organisation in NSW, you may be eligible for a one-off grant of $7,500, $10,500, or $15,000.
The expanded grant — now called the 2021 COVID-19 Business Grant — is intended to support the cash flow of businesses that have experienced reduced demand or had to close due to the public health orders.
Businesses can use the grant for:
- utilities, wages and rent
- financial, legal or other advice to support business continuity planning
- marketing and communications activities to develop the business
- cost of perishable goods that can no longer be used
- other activities to support the operation of the business
The grant will provide cash flow support for businesses whose turnover declined by at least 30% in the first three weeks of the lockdown until July 17.
The one-off business grants will then be replaced by the JobSaver scheme, which will run from July 18 to August 14 inclusive.
Who can apply?
The grant is available to businesses that meet the following criteria and conditions:
- less than $10 million in total wages as of 1 July 2020
- aggregated annual turnover of between $75,000 and $50 million for the year ended 30 June 2020
- at least a 30% decline in turnover over a minimum two-week period from 26 June 2021 to 17 July 2021 compared with the same period in June and/or July 2019 (or, if your business is on the Victorian border, from 27 May 2021 to 17 July 2021 compared with the same period in May and/or June and/or July 2019)
- must maintain the number of staff they had on 13 July 2021 for the period for which the business receives the grant or payments under the JobSaver scheme
As part of the eligibility requirements, a letter from your business’s accountant, tax agent or BAS agent will need to be provided to Service NSW, verifying the decline in turnover.
Non-employing businesses (e.g. sole traders) are not eligible if the person earning an income from the business has applied for, or is receiving, the Commonwealth COVID-19 Disaster Payment.
How much is available?
Eligible businesses can apply for a one-off-grant, as follows:
- $7,500 (for businesses that have experienced a 30% decline in turnover)
- $10,500 (50% decline in turnover)
- $15,000 (70% decline in turnover).
When do applications open?
Applications open on 19 July 2021 and close at 11.59pm on 13 September 2021.
How do I apply?
You can apply for the grant via the Service NSW website or by reaching out to us. We can assist with your application or even apply for the grant on your behalf.
For more information, read the 2021 COVID-19 Business Grant guidelines.
Applying for a government support grant can be overwhelming. We want to make sure you are aware of what financial support is available that you may be entitled to. Make the most of Covid-19 support payments by watching the webinar on-demand here.
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