Further to our release in February, the details of the 2022 Small Business Support Program has been released.
To be eligible for the grant, businesses must meet the following eligibility conditions:
- have an active Australian Business Number (ABN)
- have been operating in NSW on 1 January 2021
- have had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2021 or 30 June 2020
- have experienced a decline in turnover of 40% or more due to the impacts of COVID-19
- during January 2022, compared to January 2021 or January 2020, and
- from 1 to 14 February 2022, compared to the same fortnight in February 2021 or February 2020
- for employing businesses, maintain your employee headcount from 30 January to 28 February 2022
- for non-employing businesses, such as sole traders, show that the business is the primary income source (50% or more of the total income) for the associated person. If you have more than one non-employing business, you can only claim payments for one business.
If you are unable to meet the above eligibility conditions, you may still be eligible under the grant’s alternative eligibility criteria which can be found on the Service NSW website here.
The application requires a range of documentation to confirm your eligibility which we will be able to provide to you. Please contact your client services contact at Banks Group to arrange copies of the documents.
Link to the application for the grant can be viewed here.