2021 COVID-19 Small Business Sydney Grant is aimed at helping the businesses that have faced losses during the first 3 weeks of the Greater Sydney shutdown (June 26 to July 17). The grant’s goal is to assist companies in surviving the shutdown so that they can continue to promote employment and help revive the economy after the ban is lifted. The fund can be used to offset business expenses that are not covered by other government programmes.
Businesses that have previously received COVID-19 Small Company Grants, such as the 2020 Small Business COVID-19 Support and Small Business Recovery awards, are also eligible to apply. The fund will be delivered on behalf of the New South Wales government through Service NSW. However, individuals linked with and drawing revenue through non-employing enterprises who earned a Commonwealth COVID-19 Crisis Fund during June 26 and July 17 cannot apply for this grant.
Businesses that meet the criteria can apply for a one-time incentive of $7,500 (under tier one), $10,500 (under tier two) and $15,000 (under tier three).
Eligibility for businesses under each tier is:
- Businesses who have had a 30% or greater drop in turnover can claim up to $7,500 (tier one)
- Businesses who have had a 50% or greater drop in turnover can claim up to $10,500 (tier two)
- Businesses who have seen a 70% or greater drop in turnover can claim up to $15,000 (tier three)
Note: Please note that each business can apply for funding under one tier ony.
To be eligible for $7,500 (tier one) grant, your business:
- Must have an ABN
- Must have a total of $10 million annual Australian wages or less as on 1 July 2020
- Must have an aggregated annual turnover of $75,000 to $50 million (inclusive) for the year ended as on 30th June 2020
- Employing enterprises must keep their employee headcount until 13 July, 2021 in order to continue receiving payments under this Program and the Job Saver plan as well
- The company receiving payment must be the principal source of revenue for the linked person in the case of non-employing enterprises
- Had seen a 30% or greater drop in turnover as a result of the Public Health Order between June 26 and July 17, 2021
To be eligible for $10,500 (tier two) grant:
- The businesses must meet the requirements of $7, 500 (tier one) grants
- Had seen a 50% or greater drop in turnover as a result of the Public Health Order between June 26 and July 17, 2021
To be eligible for $15,000 (tier three) grant:
- meet the eligibility criteria for the $7,500 (tier one) grant
- have experienced a decline in turnover of 70% or more due to the Public Health Order over a minimum 2-week period from 26 June 2021 to 17 July 2021
Note: Please note that each business can apply for funding under one tier ony. Applications for 2021 COVID-19 Small Business Sydney Grant are now open and will be closing on 13 September 2021.
To find out more information on the above mentioned grant, please speak to one of our advisers at the number mentioned below.