New support payments for Small Business
New support payments for SMEs hit hard by Omicron.
The NSW Government will cover up to 20 per cent of a small or medium business’s weekly payroll as part of a new package of measures to help those who have suffered a large cut to turnover during the Omicron wave.
The Small Business Support Program helps those businesses with annual turnover of between $75,000 and $50 million with a decline in turnover of at least 40 per cent.
The minimum payment will be $500 per week and the maximum $5,000 per week.
Applications are expected to open in mid February.
In addition, the existing Small Business Fees, Charges Rebate will be increased by 50% from the current $2,000 limit to $3,000 and employing businesses will be able to use the rebate to obtain Rapid Antigen Tests (RATs). This measure is designed to support worker availability by helping reduce costs to small businesses and enabling healthy staff who have been exposed to COVID-19, but test negative, to return to work.
RAT rebates are expected to be available from late March.
Keep up to date at https://www.nsw.gov.au/Covid-19/business/financial-support