Why small businesses shouldn’t self-assess on government help
AS BUSINESS owners consider how they will emerge from the Covid-19 shutdown intact, an industry leader has urged them not to self-assess for grant eligibility.
Business NSW has encouraged businesses affected by the pandemic to take full advantage of government help that's available.
This includes State Government grants of up to $10,000, with applications open until June 30 at https://www.service.nsw.gov.au/transaction/apply-small-business-covid-19-support-grant.
"Since the outbreak of the COVID-19 pandemic, Business NSW has been working with the NSW Government to develop measures that help soften the impact on businesses and help the economy recover" Business NSW regional manager Jane Laverty said.
"It was extremely pleasing to see the NSW Government extend the timeline for applications to 30 June 2020 for the $10,000 Small Business COVID-19 Support Grant available through Service NSW.
"This is something we have been advocating for past few weeks with Ministers and we encourage business not to self-evaluate and instead contact Service NSW to ensure their situation is properly assessed.
"As we see restrictions lifted, this grant may assist business to open their doors again, purchase safety equipment to implement their Covid-Safe plan and trade through these tough times.
"Getting businesses back open and people back to work is what our economy needs to recover from the COVID-19 hit. NSW needs a vibrant and prosperous business community to ensure the ongoing economic wellbeing of the State."
But Ms Laverty said businesses must not self-assess.
For example, the owner of a business with 30 people on the books might assume they're not eligible.
But businesses with up to 20 full time equivalent positions are eligible.
"We're saying don't rule yourself out, go to Service NSW," she said.
To be eligible for this grant, your business must:
• be based in NSW
• be registered with an ABN as at 1 March 2020
• have an annual turnover of more than $75,000
• employ 1-19 full-time workers as at 1 March 2020
• be able to report a payroll below the NSW 2019-2020 payroll tax threshold of $900,000
• have been highly impacted by Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 effective on 31 March 2020
• have experienced at least 75% decline in turnover compared to the same two-week period in 2019, as a result of COVID-19 (for businesses that have been in operation for less than 12 months, refer to the guidelines)
• have unavoidable business costs not otherwise the subject of other NSW and Commonwealth Government financial assistance measures