How South Coast businesses can access $5000 to cover COVID costs

The Business Support Program aims to assist businesses, particularly in the hospitality and retail sector, that were hit hard by the Omicron wave during summer.

The grant is on offer to businesses with a turnover of between $75,000 and $50 million that experienced a decline in turnover of at least 40 per cent in January 2022 and the start of February.

The payment will cover 20 per cent of weekly payroll, up to a maximum of $5000 per week. Sole traders will receive $500 per week.

Funds can be used to cover business expenses such as wages, rent, loss of perishable goods, professional services and other costs.

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NSW Minister for Small Business Eleni Petinos said the program is targeted at those businesses that have done it the toughest.

"This program is important to assist small businesses with cash flow and to continue trading."

NSW Treasurer Matt Kean said the program was designed in light of the conditions experienced by businesses during early 2022.

"Over the summer, Omicron meant many people chose to stay at home, which hit many small businesses hard especially in the hospitality and tourism sectors," said Mr Kean.

Business owners can apply via Service NSW and will receive one payment, said Member for Kiama Gareth Ward.

"The majority of customers submitting complete and eligible applications can expect to receive payment within five to 10 business days of approval of their application."

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