SMALL BUSINESS SUPPORT PROGRAM EXTENDED

Small businesses hit hardest by the Omicron wave have been handed a further lifeline, with the Small Business Support Program extended to a new closing date of 29 April 2022.

The financial support package has assisted businesses, workers and the performing arts across NSW with cash flow and to continue trading.

Treasurer Matt Kean said the four-week extension was important to ensure small businesses have the resources they need to survive COVID-19 and bounce back.

“This extension will allow more businesses to apply, and takes into account potential application delays for businesses from flood-affected areas,” Mr Kean said.

“The pandemic and floods have been tough for so many over the past couple of months. But this targeted support helps place our economy in a resilience and recovery phase.”

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Small Business Minister Eleni Petinos said that due to the crucial role played by the 800,000 small businesses across NSW in providing essential goods, services and jobs, the Government wanted to ensure sufficient time was provided for as many to apply as possible.

“Many of these businesses experienced challenges due to the Omicron wave of the pandemic, and we understand the pressures they face,” Ms Petinos said.

“This targeted program will support impacted small businesses and help them bounce back after a challenging start to the year.”

The Small Business Support Program provides eligible businesses a lump sum payment of 20 per cent of weekly payroll with a minimum payment of $500 per week and a maximum payment of $5,000 per week.

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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 are eligible.