The NSW Government announced a third round of stimulus on 2 April, 2020 targeted at small business employers. The new assistance scheme involves the NSW government providing $750m to a Small Business Support Fund with eligible businesses able to apply for a grant of up to $10,000.
To be eligible, businesses will need to :
The definition of highly impacted is expected to be a 75% decline in revenue over a certain period.
It is expected that businesses such as cafes, restaurants, gyms and boutique accommodation providers are to be the most likely recipients.
The grants will be tax free and applications will be available through Service NSW within the next two weeks and remain open until 1 June, 2020.
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