To support small businesses affected by COVID-19, the South Australian Government’s now offering once off emergency cash grants of $10,000.
Projected to assist approximately 19,000 small businesses and not-for-profits, this investment is funded by the state government’s $650M Jobs Rescue Package.
“Small businesses are the lifeblood of our community and underpin our state’s economy and we will do everything in our power to ensure they have immediate support so they have the best chance of getting through to the other side,” Premier Marshall said.
The cash grant aims to help small businesses with ongoing or outstanding operation costs, including rent, bills, supplier and raw materials costs and other fees. The SA Government acknowledges that COVID-19 will be among us for quite some time but hopes that this immediate funding can ease some financial distress, improve cashflow and sustain small businesses for a period of time.
“It will also work in tandem with the Federal Government’s significant stimulus measures – including the $1500-a-fortnight JobKeeper wage subsidy program - and be made available to local small businesses that employ people in SA and have a turnover of more than $75,000.”
To eligible for the grant, a business must:
- Have an ABN and the business were operating in SA on March 1, 2020
- Have employees in SA
- Have an annual turnover of more than $75,000 (GST exclusive)
- Have an annual payroll of less than $1.5M and is not entitled to a payroll tax waiver under COVID-19 assistance measures implemented by the SA Government
- Have been highly impacted by COVID-19 restrictions
- Use funds to support the operation of the business
- Apply by June 1, 2020
For more information and to register your interest - https://www.treasury.sa.gov.au/Growing-South-Australia/COVID-19