Small to medium business will be able to apply for $20,000 to compensate for loss of perishable stock in a newly announced State Government stock guarantee.
Business can also claim $10,000 for reduced capacity to sell non-perishable items if a local lockdown happens, and they are impacted.
The NSW Government announced the Summer Holiday Stock Guarantee for Small and Medium Enterprises while expanding the Small Business Fees and Charges Rebate for all eligible small businesses.
It’s all part of the state’s Economic Recovery Strategy.
Under the Summer Holiday Stock Guarantee, eligible businesses with an annual turnover between $75,000 and $50 million will be able to apply for a grant of up to $20,000 to compensate for loss of perishable stock or claim $10,000 for reduced capacity to sell non-perishable items if a local lockdown occurs and they are impacted.
The expanded Small Business Fees and Charges Rebate will be eligible for use until June 30.
Treasurer Matt Kean said the Stock Guarantee of up to $20,000 would be available if non-essential small and medium businesses were forced to shut their doors between December 1- January 31 due to public health orders.
“We want businesses to have the confidence to get out and spend and invest in their business ahead of the busy Christmas trading period,” Mr Kean said.
Minister for Finance and Small Business Damien Tudehope said they wanted to ensure businesses could open with confidence and certainty.
Small businesses will now be able to claim road user tolls under the Small Business Fees and Charges Rebate, which is being increased from $1500 to $2000.
“The rebate can be used to offset NSW and local government fees and charges and adding tolls to the list of claimable charges is going to make a massive difference to many small business owners who use vehicles for work.”
More information on the rebate and Summer Holiday Stock Guarantee will be available shortly.