The support package from the federal and state governments announced this week is a big boost for regional businesses dealing with the crippling flow-on effects of the lockdown in the Greater Sydney area, according to the state’s peak business organisation, Business NSW.

The Prime Minister and Premier have formally announced the package which includes:

  • The extension of the existing NSW Business Grants package for a third lockdown week.
  • A cash boost for businesses across NSW with an annual turnover of between $75,000 and $50 million which can demonstrate a 30 per cent reduction in this turnover during lockdown. The cash boost will be 40 per cent of payroll with a payment amount between $1500 to a maximum of $10,000 per week from four weeks onwards, provided staffing levels are maintained. For non-employing businesses, such as sole traders, the payment will be $1000 per week
  • $1500 fortnightly grants for micro businesses with turnover of between $30,000 and $75,000 which can demonstrate a 30 per cent reduction in turnover where the business is the primary source of income.
  • A payroll tax deferral this quarter for all businesses, and a waiver for this quarter if you can demonstrate a 30 per cent reduction in turnover and you have a payroll of between $1.2 million and $10 million.
  • Increase in the payment amount for stood down workers from $500 to $600 per week for those who lost more than 20 hours, and $325 to $375 for those who lost between eight and 20 hours, and for it to be available to workers outside of Sydney
    lockdown areas.
  • Several provisions around residential, commercial and retail leases, including no lockouts and forced evictions, and those landlords who provide rent relief will be given land tax reduction incentives

“Business NSW has been working closely with both the state and federal governments over the past week on this package, particularly around what more could be done for business owners to retain their employees, and it’s great to see this package rolled out that will support the doors staying open and staff keeping their jobs,” said Business NSW regional manager, Joe Townsend.

“What is crucial now is for the support money to start flowing as quickly as possible – the government has assured business applications will open later this month with the money to be paid days after that,” Mr Townsend said.

“The impact the lockdown has had on the mental health of business owners has been heartbreaking to see, as many business owners have closed the doors, unlikely to ever reopen.

“It’s also important to highlight that although Greater Sydney has been in lockdown, the impact to regional businesses has been immense, as they’ve missed out on the strong school holiday trade, as well as a lack of forward bookings.

“Preliminary data from Business NSW lockdown survey, indicate that businesses across the New England North West have had a 35 per cent decline in revenue.

“This support will give business owners the opportunity to retain their staff and give them the best chance to rebound their operations when the lockdown finishes,” Mr Townsend said

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