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The McGowan Government has announced a $72 million package for businesses most impacted by Level 2 public health and social measures,

The Small Business Hardship Grants Program will provide tiered grants to businesses that have a 50 per cent or greater reduction in turnover for any four week period between January 1, 2022 and April 30, 2022, relative to the same period last year.

This will include:

  • $3,000 grant for sole traders (no employees);
  • $7,500 grant for micro businesses (those with one to five employees);
  • $20,000 grant for small businesses (those with six to 19 employees); and
  • $50,000 for medium-sized businesses (those with 20 or more employees and with an annual payroll of up to $4 million). 

This program will provide support to all eligible businesses that meet the criteria - including the hospitality, arts and events industries.

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.

It is expected that applications to these programs will open later this month.

Contact TaxAssist Accountants

If you need any help or advice with the financial aspects of running your business, please contact us today on 02 9608 3707 or complete our contact form. We’ll be glad to help.

Date published 4 Mar 2022 | Last updated 9 Jul 2022

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