$10 million a day flows out the door to support NSW small businesses impacted by COVID-19
The NSW Government has approved more than $100 million in Small Business Support Fund grants in just 10 days since the program opened.
More than 15,000 applications have already been received with more than 10,000 grants approved, and funding already hitting bank accounts of some applicants.
Treasurer Dominic Perrottet said it was vital small businesses severely impacted by the COVID-19 shutdowns could access the grants of up to $10,000 quickly.
“We wanted to provide rapid relief, and that’s certainly happening right now for thousands of struggling businesses in our communities,” Mr Perrottet said.
“Money is starting to flow in to bank accounts, often within a handful of days of application, and that’s relieving pressure with ongoing bills and cash flow, to keep businesses in business and people in jobs.
“Every business we help save means more people in jobs leading to a faster recovery.”
So far, cafes, bars and restaurants account for the most applications (22 per cent), followed by personal services like beauticians and hairdressers (18 per cent), store-based retailing (eight per cent) and sport and recreation businesses (six per cent).
Minister for Customer Service Victor Dominello said Service NSW was working around the clock to support businesses.
“We’re putting business and workers first by simplifying the application process. The response has been overwhelming, with 99 per cent giving it the thumbs up,” Mr Dominello said.
“This is another example of Service NSW using a digital platform to make life easier for customers. Applying for a grant is simple and easy, with money transferred within days.”
Finance and Small Business Minister Damien Tudehope said small business was the heart and soul of the NSW economy and the grants would help save thousands of jobs.
“Every business we help save means more jobs and a faster recovery on the other side of this,” Mr Tudehope said.
“We’re supporting small business owners through this difficult time, with the grants helping to bridge the gap between the Commonwealth Government’s support measures such as JobKeeper.
“By alleviating some of the pressures on these businesses, we know we can help them reopen their doors as soon as possible and get people back into work.”
The grants are supported through the NSW Government’s $750 million Small Business Support Fund announced on 3 April 2020.
For more information on eligibility or to submit an application, visit Service NSW or call 13 77 88.