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2022 NSW Small Business Support Program

by | 18 Feb 2022

Applications are now open for the 2022 NSW Small Business Support Program. The program, believed to be the last Covid-related support offer, was announced by the NSW State Government a few weeks ago, and if you’re eligible you can apply via your Service NSW account. The application link is here.

The 2022 Small Business Support Program is targeted assistance for business, sole traders and not-for-profit organisations in NSW who have been impacted by the Omicron wave COVID-19. The support package is for the month of February only. It’s designed to encourage business owners to maintain their current employee headcount.

What you’ll get

Eligible employing businesses and not-for-profit organisations will receive 20% of their gross weekly payroll as a lump sum payment for the month of February, with a minimum payment of $750 per week and a maximum payment of $5,000 per week.

If you’re a non-employing business, in other words you’re a sole trader and work for yourself, you’ll receive $500 per week, paid as a lump sum of $2,000.

Am I eligible?

To be considered an eligible businesses you must have a turnover of between $75,000 and $50 million and also experienced a minimum 40% decline in turnover in January 2022, and in the first fortnight of February 2022. You need to have a decline in turnover of 40% for both periods compared to the same periods in 2021 or the same period in 2020, unfortunately it needs to be consistent. So, it’s either 2022 vs 2021 OR 2022 vs 2020.

If you’re a micro business (turnover under $75K) you’re also out of luck, then there’s nothing in this program for you.

What can I use the money for?

You can use the funds to pays for salaries and wages, rent and utilities, marketing and communications, general business costs and advisory.

Applications for this program close on 31 March 2022. If you’re not sure about any element of the grant, how to work out turnover or if you’re eligible, speak to your accountant, BAS agent or bookkeeper.

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