2021 COVID-19 Business Grant:
This week, Nathan presents us with all the information we need to know regarding the current 2021 COVID lockdown and the grants available to business owners. If you're In a situation where COVID has Impacted your business, the information below will help you understand the grants before applying.
Service NSW will deliver the grant on behalf of the NSW Government consistent with policy settings administered by NSW Treasury. By applying for any of the grants, businesses agree that their application may be subject to an audit by the NSW Government or its representatives and agree to participate in the process if required.
2021 COVID-19 Business Grant
You can apply from 19 July 2021 till 11:59pm 13 September 2021 and apply online with Service NSW at www.service.nsw.gov.au
What is the Business Grant?
This COVID-19 Business grant is for business including both Sole Traders and Not-for-profits.
Depending on the percentage of decline in turnovers of your business will determine whether your one-off grant is $7,500, $10,500 or $15,000 (watch our video for tables and graphs on these numbers).
However, it’s important to remember that only eligible businesses may receive one grant tier and that only one grant is available for a single ABN.
The grant covers cost for the following business cost:
• Utilities, wages and Rent
• Financial, legal and other Advice to Support your business
• Marketing and communications activities to develop the business.
• The cost of perishable goods that can no longer be used; or
• Other activities to support the operation of the business.
In addition, certain entities, such as those earning passive income (rents, interest or dividends), government agencies, local governments, banks, and universities are not eligible for this Grant. This also includes a company in liquidation, individual in bankruptcy or a sovereign entity. Multiple businesses under a single ABN are only eligible for one grant.
What is the Eligibility Criteria?
• Have an active Australian Business Number (ABN)
• Demonstrate your business was operating in NSW as of 1 June 2021
• Have had total annual Australian wages of $10 million or less as of 1 July 2020
• Have had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020
• Have business costs for which there is no other government support available
• Maintain your employee headcount as of 13 July 2021.
Maintaining employees – definitions
Maintain their employee headcount means maintenance of the employer-employee relationship consistent with employment law. Employers will, however, remain eligible if employees voluntarily resign.
Employee headcount means the number of persons who are employed in New South Wales and who are permanent (full-time or part-time), or casual staff that have been employed by the business for more than 12 months.
Information needed when you apply:
Applying for the grant will depend on If your business Is In a Industry that Is highly Impacted or not.
JobSaver Business Support:
You can apply from late July 2021 and most likely till the lockdown finishes – more details to follow.
Apply online with Service NSW at www.service.nsw.gov.au
What is the business support?
This COVID-19 Business grant is for business including both Sole Traders and Not-for-profits.
A cashflow payment between a minimum of $1,500 and maximum of $10,000 per week based on 40% of the NSW payroll payments of your business.
Micro Business Grant:
You can apply from late July 2021 and most likely till the lockdown finishes – more details to follow.
Apply online with Service NSW at www.service.nsw.gov.au
What is this Business Grant?
Micro Businesses could be company or trust, but most likely Sole Traders.
Non-Financial Support:
Support goes beyond just financial grants, the mental wellbeing of ourselves, our friends and family during lockdown should also be something to take note of. The Impact of covid 19 and the result of lockdowns will have a different Impact for everyone, so Its Important to understand the signs of mental Illness, stress or other Impacts that could lead to a mental health crisis.
It's Important that If you do know someone going through a mental health crisis, that you're not there to treat or solve the Illness, rather help Identify and provide support. Providing support can be as simple as listening, giving Information and encouraging professional help be sought.
The best professional support can start with a GP or not for profit groups like Beyond Blue, RU OK and Lifeline. We've shared the details with those support organisations:
Beyond Blue; Phone 1800 512 348 or https://coronavirus.beyondblue.org.au/
RU OK?; resources can be found at https://www.ruok.org.au/
LifeLine: Phone 13 11 14 or https://www.lifeline.org.au/
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