Small businesses that experienced a downturn over summer can now apply for a NSW Government support payment of up to $5,000 per week through Service NSW.
Treasurer Matt Kean said the Small Business Support Program will provide cashflow assistance to help businesses get through the current COVID-19 outbreak and keep workers employed.
"Over the summer, Omicron meant many people chose to stay at home, which hit many small businesses hard especially in the hospitality and tourism sectors," Mr Kean said.
"Our Small Business Support Program is about making sure businesses that are viable over the medium and long term get through Omicron in good shape so we can bounce back better as case numbers fall.
"Small business is the engine of the NSW economy and this targeted program is designed to keep that engine going through this temporary economic shock."
Minister for Customer Service and Digital Government Victor Dominello said the Service NSW Business Concierge team and grant assessors are standing by ready to assist customers with applications and get financial support into the hands of business owners.
“The majority of customers submitting complete and eligible applications can expect to receive payment within five to 10 business days of approval of their application,” Mr Dominello said.
Minister for Small Business Eleni Petinos said the program was part of a suite of responses to the Omicron wave and was designed to help the businesses in greatest need.
“The program will provide targeted support to businesses with an annual turnover of between $75,000 and $50 million that experienced a decline in turnover of at least 40 per cent in January 2022 and the start of February 2022,” Ms Petinos said.
“The payment for employing businesses will cover up to 20 per cent of weekly payroll, up to a maximum of $5,000 per week. Eligible non-employing businesses, such as sole traders, will receive $500 per week.
“This program is important to assist small businesses with cash flow and to continue trading.”
Funds can be used to cover business expenses such as wages, rent, loss of perishable goods, professional services and other costs.
Applications can be made online through the Service NSW MyAccount, by visiting a local service centre or by calling 13 77 88.
For more information on the support program, please visit:
https://www.service.nsw.gov.au/transaction/2022-small-business-support-program