Businesses have been affected negatively by the pandemic, especially small ones due to their likelihood of being part of industries impacted harder by movement restrictions.
Officials have been recognising the challenges (from the pandemic and otherwise) that small businesses face and have been launching grants, rebates, and loans to help them out.
Below, read more about attractive small business grants as well as the needed criteria to apply for each.
NSW – The 2022 Small Business Support Program
Small businesses with a turnover between $75,000 and $50 million that have had a 40 percent minimum decline in their turnover in the month of January 2022 and in the first fortnight of February 2022 can apply.
Businesses that employ people are eligible to apply for 20 percent of the weekly payroll in lump for February. The minimum payment is $750 per week and the maximum is $5,000 per week.
Businesses that don’t employ can apply for $500 per week paid in a lump sum of $2,000.
The application can be done through the Service NSW. The payment comes through within 5 to 15 days of the application if eligibility is confirmed.
WA – Grants for Relief from the Pandemic
WA businesses affected by the pandemic have several grant options to apply for.
For example:
Covid-19 Grants & Sponsorship
This program in Perth offers local businesses a way to recover from the pandemic through various grants.
The Safer Space grant offers up to $15,000 for landlords and business owners to better their shopfront aesthetically and boost safety. The goal is to make the business more attractive for investments and customers and to improve the neighbourhood and streets for commerce.
Apprenticeship & Trainee Re-Engagement
This grant helps businesses employ a trainee or an apprentice and contribute to the recovery from the impact of the pandemic.
NT – Small Business Grants for Women
NT encourages female small business owners and there are two rounds of general grants for gender equality. One round goes from July to December and the other from January until May. The goal is to better gender equality in the region and businesses can apply for grants up to $5,000. This is a federal grant although the application process is done through the NT government. Applicants have to be NT residents or businesses based and registered in NT.
The businesses need to be focused on certain aspects to be considered eligible (health & wellbeing, safety, education, economic security, respect, empowerment, leadership, decision-making).
VIC – Small Business Energy Saver
This grant is aimed at Victorian small businesses that upgrade to energy-efficient equipment. They get a major discount that may sometimes pay for up to 100 percent of the money for installation and equipment. The experts identify the business’ equipment that is the costliest and then make a recommendation for the best energy-efficient replacement. The grant sum varies; averagely speaking, one business could get around $2000 discount. The small business needs to fulfil the following criteria:
- 1 to 19 employees
- A non-residential premise
- The business is not an agricultural primary producer
QLD – Small Business Covid-19 Adaptation Grant
This grant is aimed at small businesses that face closure or are highly affected by the pandemic closures. It helps them adapt and keep their operations steady and continue building resilience. It’s designed for small and micro businesses below the payroll tax limit of $1.3 million annually and businesses that have gone into hibernation or had major structural adjustments. The business’s annual turnover has to be over $75,000.
Other requirements:
- A QLD ABN
- Registered for GST
- Need to provide BAS, tax return, or dated accountant letter
SA – Business Support Grant
This grant is designed for businesses and organisations in SA that don’t employ staff and whose turnover reduced significantly due to the pandemic restrictions. The non-employing eligible businesses will get a once-off of $1,000. To be eligible, they need to meet these criteria:
- ABN
- Didn’t employ people
- Their turnover annually is more than $75,000
- At least 30 percent reduced turnover
- The payroll is less than $10 million in 2019-2020.
Employing businesses get a $3,000 once-off grant. To be considered eligible, these are the criteria:
- Valid ABN
- Employ people in SA
- Their annual turnover is more than $75,000
- Registered for GST
- Total payroll of less than $10 million (2019-20)
- At least 30 percent turnover reduction
TAS – Covid 19 Small Business Advice & Financial Guidance
Small businesses get access to specialist financial services or business support for recovery, growth, transition, or applying other strategies to mitigate the effects of the pandemic. Businesses eligible get between $750 and $1,500 to acquire these services from certified specialists. These criteria need to be met to be eligible:
- ABN
- No more than 19 employees
- Located in Tasmania
- Majority-owned by Tasmanians
ACT – Small Business Hardship Scheme
This scheme gives reimbursement for the eligible businesses for costs incurred and paid (gas, water, and electricity), as well as commercial rates and commercial vehicle registrations. The sum is up to $10,000 per business.
The payment goes through within 30 days of the application. To be considered for it, businesses need to:
- Have an annual turnover of $30,000 to $2 million
- Active ABN
- Registered for GST
- 30 percent drop in revenue in the lockdown compared to the period before it
Above mentioned are only some of the many grants that federal and state governments are providing to support the growth of the small business sector in Australia. If you would like to know more about such grants that can help your business, speak to one of our consultants today.
