A grant program is opening on Tuesday 17th August for small business who have suffered a 30% decline in turnover.
(from Business Tasmania Website)
This grant program will be targeted at businesses operating in the tourism, hospitality, arts and events, seafood and transport (hire car, coach tours) sectors, and other business that are impacted by the lockdowns and border restrictions that are in place in other states.
Grants of between $2 000 and $10 000 will be provided to successful applicants. The amount of funding will be calculated by the Department of State Growth during the assessment process, using the information and evidence submitted by applicants, according to impact and size of the business by annual turnover.
The support program will be available to businesses that have suffered a significant reduction in turnover as a direct result of lockdowns and border closures in other states, as a result of:
- A reduction in the number of visitors being able to travel to the Tasmania; and/or
- A reduction in the ability to provide, sell or import/export goods and services.
The grant program will open on Tuesday 17 August, and will close on Thursday 16 September 2021, 2:00 pm.
Grant scaling will be informed by business annual turnover*.
1. Sole traders or small business operators (such as sole traders) ($2 000 grant)
- Businesses that do not have any employees, or have an annual turnover of between $50 000 to $100 000, and have been impacted by a reduction in turnover by 30 per cent or more.
2. Impacted small businesses with employees ($5 000 grant)
- For those businesses that employ staff with annual turnover above $100 000 up to $1 million and have been impacted by a reduction in turnover by 30 per cent or more.
3. Impacted medium businesses ($10 000 grant)
- For those businesses that employ staff with annual turnover above $1 million up to $10 million and have been impacted by a reduction in turnover by 30 per cent or more.
*Reduction in turnover will be for a comparative period prior to 26 June 2021.
‘Annual turnover’ is for the 2020-21 financial year or 2020 calendar year.
How to apply? Visit the Business Tasmania website or contact your tax agent or bas agent for support.
These grants are first in best dressed so its important you act on this quickly.