The NSW Government has introduced the 2022 Small Business Support Program to help businesses survive the immediate impact of the Omicron COVID-19 strain.

The 2022 Small Business Support Program is designed to help businesses cover expenses after being impacted by reduced consumer demand, labour shortages and supply chain disruptions.

What is it?

Eligible employing businesses and not-for-profit organisations will receive 20% of their weekly payroll as a lump sum for the month of February 2022, with a minimum payment of $750 per week and a maximum payment of $5,000 per week. Non-employing businesses will receive $500 per week, paid as a lump sum of $2,000.

The 2022 Small Business Support Program is for the month of February only.

Eligibility Criteria

• Have an ABN as at 1 January 2021.
• Have a business located in NSW.
• Must be a business – cannot have more than 50% passive income.
• Turnover of between $75,000 and $50 million for the year ended 30 June 2021 or 30 June 2020 (must be based on your last lodged tax return).
• Experienced a decline in turnover of 40% or more due to public health orders or the impacts of Omicron during the month of January 2022, compared to January 2021 or January 2020; and
• experienced a decline in turnover of 40% or more due to the impacts of Omicron from 1 to 14 February 2022, compared to the same fortnight in February in the comparison year used above; and
• maintain your employee headcount as of 30 January 2022 to 28 February 2022.

Please note the decline in turnover must be due to Covid-19, it cannot be due to seasonal variation or business closure over the holiday period.

How funding can be used

Most businesses should receive payments within 5 to 10 days of application. Funding can be used on (but not limited to):

• salaries and wages.
• utilities and rent.
• financial, legal or other advice.
• marketing and communications.
• perishable goods, or
• other business costs.

When to Apply

Applications are expected to open later this week through Service NSW.

Applications close 31 March 2022.

What we will do

We will prepare the accountant’s letter that is required when applying.
 
In order to prepare this letter we will:

• review your general eligibility for the grant.
• review your turnover for January 2022 and the first fortnight of February 2022, compared to the relevant comparison periods. 
• review your staff headcount before and after 30 January 2022.
• provide you with relevant documentation required to upload with your application.

 
Whilst your Service NSW application may not require an accountant’s letter for your industry; this process will ensure that you are eligible and will provide you with the relevant financial information required in the application.

Next Steps

Please contact us if you believe your business has seen a 40% or more decline in turnover.

Please note your accounting software must be reconciled to 14th February 2022 in order for us to evaluate your eligibility.