How to Apply for the $10,000 Small Business Grant NSW: A Step-by-Step Guide
Small businesses are the backbone of Australia’s economy, making them crucial to support during times of economic downturn. In recognition of this, the New South Wales government has launched an initiative aimed at providing financial assistance to small businesses affected by the COVID-19 pandemic. The initiative provides eligible small businesses with a grant of up to $10,000 to help cover unavoidable expenses such as utilities, wages, rent, or financial advice.
If you are a small business owner in NSW, you may be eligible to apply for this grant. Here is a step-by-step guide to help you navigate the application process:
Step 1: Check Your Eligibility
To be eligible for the grant, you must meet the following criteria:
– Your business must have an ABN as of 1 March 2020.
– Your business must be based in NSW.
– Your business must have a turnover of more than $75,000.
– Your business must have fewer than 20 full-time equivalent employees.
– Your business must be highly impacted by the COVID-19 pandemic, including being subject to closure or experiencing at least 30% decline in turnover.
If you meet these criteria, proceed to the next step.
Step 2: Gather Your Documents
Before you start with the online application, make sure you have the following documents ready:
– Your business’s Australian Business Number (ABN)
– Your business’s bank account details
– Your most recent Business Activity Statements (BAS)
– Evidence of the decline in turnover since March 2020, such as profit and loss statements, invoices, and receipts
– A valid driver’s license or passport for identification purposes
By having these documents ready, you’ll avoid having to stop and start your application.
Step 3: Submit Your Application
To apply for the grant, visit the Service NSW website. Before you begin, make sure you have created a MyServiceNSW Account.
Once you have logged in, select the $10,000 small business grant application and provide the necessary information about your business, including your ABN, bank account details, and turnover figures. You’ll also be asked to provide evidence of your eligibility.
Once you’ve submitted your application, you will receive a confirmation email, which means your application has been received.
Step 4: Wait for Assessment
It can take up 4-6 weeks for applications to be assessed due to the high volume of applications. If your application is successful, the funds will be deposited into the nominated bank account.
Conclusion
The $10,000 small business grant NSW is an initiative aimed at supporting small businesses struggling due to the COVID-19 pandemic. By preparing and submitting a strong application, you can get financial support for your business and stay afloat during these difficult times. Remember to keep track of your application and follow up if you don’t receive a response within the mentioned timeline.
