NSW Government releases $1bn package for Omicron-hit small businesses 

Home / HABA Blog / NSW Government releases $1bn package for Omicron-hit small businesses 

Posted January 31, 2022

The NSW government has announced a $1 billion support package for businesses hit this summer by the economic impact of the Omicron wave.

This latest package, which targets businesses with a turnover of less than $50 million and a 40 percent decline in turnover in January. The package also allows businesses to be reimbursed up to 50% of the purchase price for rapid antigen tests bought for staff during the period.

Businesses that can prove they lost 40 percent of their turnover during the month of January, when compared to a similar period from 2019, will be able to claim back up to 20 per cent of their payroll during the month of February.

 

Applications open from mid-February and those eligible businesses will be entitled to a lump sum payment equal to 20 per cent of weekly payroll for the month of February. Grants will range from $500 to $5000 a week.

 

Additionally, the state government announced it is increasing the fees and charges rebate from $2000 to $3000. The government expects businesses to be able to access the money between five and 15 business days after submitting their application.

Commercial landlords who provide rent relief to tenants will now have until March 13 to access a hardship grant. For salon owners, this means that you can continue to ask for rent relief from your landlord as they are directly compensated for such.

Treasurer Matt Kean acknowledged the past few months had been tough for small businesses but said the “comprehensive business package” would help them get “through to the other side”. He also said the cash would be directed to “those parts of the economy that are really struggling”.

“Those businesses that ply their trade through face-to-face trading, things like hairdressers, nail salons, the tourist industry and also hospitality and bricks and mortar retail,” Mr Kean said.

NSW Premier Dominic Perrottet stated that businesses were tracking “better than expected” during the Omicron wave and confidence was starting to return to the market.

“And as we did with earlier recoveries, we will come through this recent challenge stronger than ever,” he said.

 

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