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Support Package a Lifeline for NSW Businesses

The following has been taken from a media release by Business NSW. If you believe that your business may be eligible, please contact your account or financial team to assist you in applying. Please see the eligibility criteria below. There is also extended commercial landlord support.

A new support package announced by the NSW Government will keep the doors of many businesses open, according to the state’s peak business organisation, Business NSW.

The NSW Government has announced the package in the wake of the Omicron surge, with businesses of turnover between $75,000 and $50 million set to benefit. The package, which commences from February 1 includes:  

  • A payment of up to $5000 per week (20% of payroll) for businesses with turnover between $75,000 and $50 million who suffered a 40% downturn in January and project to do the same in February.
  • The Small Business Fees and Charges rebate program extended to $3000, and can include 50% of the costs incurred to acquire RAT’s for the workplace,
  • Commercial landlord relief extended until 13 March

Daniel Hunter, CEO of Business NSW said, “Business has been crying out for support because of the dramatic impacts that Omicron has had on their operations, especially in what many hoped would be their busiest time,” said Chief Executive Daniel Hunter.

“The Government has done a great job in designing a package that will help a wide variety of business owners who’ve suffered a downturn in their operations through no fault of their own, and now what’s important is that the money gets out the door and into the hands of those most in need,” Mr Hunter said.  

“Our most recent Business Conditions Survey published earlier this month found 40% of businesses had cashflow to last them for the next three months, so this relief will be widely embraced by the business community across NSW.

“What’s crucial now is that customers have the confidence to return to businesses and do their shopping in a safe manner.

“Businesses are doing the right thing in ensuring their staff are healthy before commencing shifts – together the economy can roar back into life if we abide by the rules and return to our favourite businesses,” Mr Hunter said.

 

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