South Australian businesses impacted by ongoing restrictions to receive boost

On Monday, it was confirmed that a COVID-19 Small Business Hardship Grant will be available to businesses that have been impacted by the restrictions but have not been previously eligible for small business grants since July’s seven-day lockdown.

As well as providing a new package for small and medium tourism and hospitality businesses across the state, the COVID-19 Small Business Hardship Grant will provide $6,000 for businesses with annual payrolls below $10 million and $2,000 for non-employing businesses that have experienced a minimum of 50 per cent reduction in turnover.

“Already, the Commonwealth has provided $50 million in COVID-19 disaster payments to South Australia, supporting the incomes of around 86,000 individuals and, in partnership with the state government, committed more than $36 million to small and medium-sized businesses over course of the recent lockdowns,” Treasurer Josh Frydenberg said.

“But there is light at the end of the tunnel. By sticking to the national plan, agreed to by state and territory leaders, we can safely ease restrictions and open up our economy.

“And as we progress towards our vaccinations targets of 70 to 80 per cent, the Morrison government will continue to work closely with the Marshall government to support South Australian businesses through this challenging time.”

South Australia Premier Steven Marshall added: “While we have more South Australians employed than ever before in the history of the state, there is no doubt many businesses have been doing it tough during the global pandemic.

“These new grants will further support our hardworking small businesses who are the backbone of the state’s economy.”

Applications for the COVID-19 Business Hardship Grant open on 17 September and close on 31 October.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.