NSW businesses set to receive $10k grant

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The NSW government has now pledged $750 million to help small businesses across the state deal with the economic impact caused by the coronavirus pandemic.

The grants of up to $10,000 must be used for funding unavoidable business costs such as utilities, overheads, legal costs and financial advice.

To be eligible, businesses must be “highly impacted” by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020.

Business will need to have an ABN as at 1 March 2020, employ between one and 19 employees and have a turnover of more than $75,000.

Businesses will also need to have a payroll below the NSW 2019–20 payroll tax threshold of $900,000.

The grants will be available through Service NSW within a fortnight and remain open until 1 June 2020.