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Rhea Laxmi Nath
February 16, 2022
Small businesses that experienced a downturn over the summer due to the Omicron outbreak can now receive up to $5,000 per week from the NSW government.
Announced today, these weekly support payments hope to assist businesses with cash flow and keep workers employed.
“Over the summer, Omicron meant many people chose to stay at home, which hit many small businesses hard especially in the hospitality and tourism sectors,” said NSW Treasurer Matt Kean.
“Small business is the engine of the NSW economy and this targeted program is designed to keep that engine going through this temporary economic shock.”
These payments are expected to cover up to 20 per cent of a business’s weekly payroll up to $5,000 per week. Eligible non-employing businesses, like sole traders, will receive $500 per week.
These funds can contribute towards paying off expenses like rent, wages, professional services, and other costs.
“The program will provide targeted support to businesses with an annual turnover of between $75,000 and $50 million that experienced a decline in turnover of at least 40 per cent in January 2022 and the start of February 2022,” Minister for Small Business Eleni Petinos explained.
Eligible businesses can expect to receive payments between five to 10 business days of approval of their application.
Applications can be made online through the Service NSW MyAccount, by visiting a local service centre, or by calling 13 77 88.
For more information, click here.
READ MORE: NSW pours a billion dollars to support businesses amid Omicron surge
Rhea Laxmi Nath
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