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Applications for the 2021 COVID-19 micro business grant is now open and will run until the 18th of October 2021. It provides $1,500 fortnightly payments to eligible businesses with an aggregated yearly turnover of $30,000 to $75,000 to help boost their cash flow.

Business grant

Businesses, sole traders and not-for-profits are eligible to receive the 2021 COVID-19 micro business grant if they have an ABN in NSW from 1 June 2020, have an aggregated yearly turnover of $30,000 to $75,000 for the last FY, experienced a 30% decline or more in turnover because of the lockdown, have business costs with no government support available, not applied for the 2021 business grant or JobSaver scheme, maintain their employee headcount on 13 July 2021 while they receive the grant or for non-employing businesses, must be the primary income for the associated person. Only one application can be lodged per ABN.

The 2021 COVID-19 micro business grant can’t be used for expenses that can be supported by the Government otherwise. Businesses are not eligible if it is a non-employing business that has received a Commonwealth COVID-19 Disaster Payment since 18 July 2021, it is a company in liquidation, bankruptcy, engaged in fraud, earns passive income or with ABN registered after 1 June 2021.

To apply, you need to show eligibility through evidence. Visit the Service NSW website to lodge your application. Service NSW will review the application and contact you for additional information. If approved, funds of $1,500 will be transferred to your elected bank account.

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As you look for different ways to grow and improve your business, seeking professional advice could prove to be an important and helpful decision.

You can click here to speak to a businessaccounting and bookkeeping firm. We also offer hospitality business consultation and mortgage services. We will give you a call to know more about your needs. We will explain to you how we can improve your business.

We would love to help you formulate investment strategies and streamline your processes to take your business to the next level.  Our goal is to help you grow your business, find ways to invest more and increase your productivity.

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