More than 1,000 small businesses and not-for-profits impacted by COVID-19 restrictions will receive a one-off $10,000 emergency cash grant this week – some as early as today - as part of the government’s plan to sustain jobs and local businesses throughout the economic crisis.
Restaurants, cafes, gyms and fitness studios, beauty salons, homewares stores, hairdressers and dentists are among those to benefit from the financial relief, having either suffered a significant loss of income or been forced to close as a result of COVID-19 and the necessary restrictions to help limit its spread.
Treasurer Rob Lucas said there had been an overwhelming response to the cash grants – funded from the state government’s $650m Jobs Rescue Package. So far, 5,759 businesses and not-for-profits have formally applied, having gathered the necessary documentation for consideration by Treasury (such as confirmed eligibility for the Federal Government’s JobKeeper program).
“We are doing everything in our power to help businesses get through what is the greatest economic challenge of our time,” said Treasurer Lucas.
“This week will see the first major tranche of cash grants going out the door and into the pockets of those who need it most - small business owners who are doing it incredibly tough at the moment just to pay the bills.
“These grants will go some way to helping them cover their ongoing or outstanding operating costs, such as rent, power bills, supplier and raw materials costs and other fees.
“It will also work hand-in-glove with the federal government’s significant stimulus measures, including the $1,500-a-fortnight JobKeeper wage subsidy program, which keeps businesses connected with their employees.”
Approximately 21,000 businesses and not-for-profits across SA initially registered their interest in the program. It’s estimated approximately 19,000 businesses will be assisted under the grants scheme at a total cost of approximately $190 m.
The SA grants apply to those businesses with a payroll of less than $1.5 m, and not entitled to a payroll tax waiver under COVID-19 support measures already introduced by the state government (for businesses with payrolls of up to $4m). Eligible businesses must employ people in SA and have a turnover of more than $75,000.
For more information, and to register your interest, businesses are urged to visit https://www.treasury.sa.gov.au/Growing-South-Australia/COVID-19
Applications for the grant will be available until June 1, 2020.