The NSW COVID-19 Small Business Support Grant of $10,000 will be available to eligible NSW small business owners.
Applications will be available on the Service NSW website from 17 April. There are qualifications. In order to be eligible businesses will need to fulfill the following criteria:
- Have between 1 to 19 employees and a turnover of more than $75,000.
- Payroll below the NSW Government 2019-2020 payroll tax threshold of $900,000.
- Have an Australian Business Number as at 1 March 2020, be based in New South Wales and employ staff as at 1 March 2020.
- Be highly impacted by the Public Health (COVID-19 Restrictions on Gatherings and Movement) Order 2020 issued on 30 March 2020.
- Use the funding for unavoidable business costs such as utilities, overheads, legal costs and financial advice.
- Provide appropriate documentation upon application.
Eligible industries are those that have been subject to closure or highly impacted by NSW Government health directions in relation to COVID‑19 and include but are not limited to:
- Rental, hire and real estate services.
- Retail trade.
Our Property team has the experience and expertise to assist with your legal requirements in relation to retail and in relation to real estate and real estate services as well as retail and commercial issues requiring advice, assistance and where necessary, advocacy.
It is important to note that the Small Business Support Grant funds may be used for legal costs.
We can assist you with the required information in relation to submission for payment of your legal costs as part of your application, without payment of fee should you need:
- Advice in relation to your lease;
- Advice in relation to your real estate sale or purchase contract; or
- Advice in relation to your commercial contracts.
Has your business, tenancy or commercial property been affected by the devastating COVID-19 Crisis? Our FREE BUSINESS HEALTH CHECK will help you understand what immediate, short- medium and long term steps you can take to protect the health of your business and recover from a critical condition.
Our team of property, commercial law and restructuring experts will review your business circumstances and losses as a result of the COVID-19 crisis . Be amongst the first to receive this help by clicking here.
Madison Marcus is closely monitoring all developments relating to the COVID-19 Crisis and how they can affect our clients. You can keep up to date with the advice from our experts in relation to legal and business issues that have arisen so far by subscribing to our E-Alerts here.