APPLICATIONS for the small business hardship grant program are due to open on Thursday, March 17 – with payments to eligible businesses according to business size.
For the Level 2 small business hardship grant program the period for small businesses to have experienced a 50 per cent or more decline in revenue had been reduced from four to two weeks.
The McGowan Government said the decline in revenue was for any consecutive period between January 1, 2022 and April 30, 2022 compared with an equivalent period in 2021.
An alternative period in 2021 may be used if the business did not operate at that time or it provides an inaccurate representation of the business’ financial situation.
This means that those small to medium businesses most impacted by the Level 2 public health measures, including the 150 cap on patrons, will be able to apply on the day they would be eligible for assistance.
To be eligible for the small business hardship grants, businesses must:
- Have a valid and active Australian Business Number (ABN).
- Have an Australia-wide payroll of less than $4 million.
Eligible businesses that apply and receive funding from other recent business support programs, including the Level 1 Covid-19 business assistance package, are also eligible to receive grants from the Level 2 package.
Payments to eligible businesses will be according to business size:
- Sole traders (non-employing businesses) will be eligible for payments of $3000
- Micro businesses, with one to five employees, will be eligible for payments of $7500
- Small businesses, with six to 19 employees, will be eligible for payments of $20,000
- Medium sized businesses employing 20 people or more, will be eligible for payments of $50,000
This program is open to all eligible businesses that meet the criteria – including the hospitality, arts and events industries.
Last week applications for the small business rental relief package opened on Thursday, March 10.
For the Level 1 small business rental relief package, the period of time for small businesses to have experienced a 30 per cent or more decline in revenue has been shortened from six to four weeks.
For more information visit https://www.smallbusiness.wa.gov.au/coronavirus/grants