Residents should not shy away from grant opportunities on offer, says Business Port Stephens (BPS) president Mel Turner while welcoming news of a state-funded $1 billion business support package.
However, the package – which includes financial support for small business to buy rapid antigen tests to help keep their workers safe and a new support program to assist those hardest hit by COVID – has been branded “too little, too late” by Labor MP Kate Washington.
Ms Turner said that the package would be hugely beneficial in realigning many Port businesses and getting staff back up and running in a safe environment.
“While many sectors in Port Stephens flourished through the Christmas season, some were still experiencing hardship bought on by staff shortages and having staff impacted by the Omicron outbreak,” Ms Turner said.
“The next few months will give us the opportunity to catch our breath, assess and once again begin our transition into 2022 and the support package will greatly assist many businesses.”
Ms Washington, however, was of the opinion that businesses were already on the brink of collapse and would not be able to survive with the package.
“This has been an incredibly difficult time for local small business owners and for many of them, this support package will be far too little, far too late,” Ms Washington said.
“Just this week, I’ve spoken with a local business that basically has had no income since September, and they’ve had to lay off multiple staff.”
In his announcement on the weekend, Premier Dominic Perrottet said that while COVID case numbers were on the decline, the NSW Government was determined to support businesses that have been most affected during the pandemic.
“As part of the package, we are introducing the Small Business Support Program to help support businesses that experienced the worst effects of the Omicron wave,” Mr Perrottet said.
“We are also providing support to business to help reimburse the cost of rapid antigen tests for their workers, extending the Commercial Landlord Hardship Grant, and delivering additional funding for the performing arts sector.
“This targeted package provides support for businesses who experienced cashflow issues and the immediate economic impacts of the Omicron outbreak.
“NSW is tracking better than expected and confidence is returning. And as we did with earlier recoveries, we will come through this recent challenge stronger than ever.”
Deputy Premier and Minister for Regional NSW Paul Toole said the support package would provide a statewide response by targeting those businesses that need it the most.
“Our regions have felt the impacts of Omicron, and it’s critical we give them a helping hand to recover and get local economies humming again,” he said.
“This package shows that the NSW Government continues to have the back of residents and businesses in the bush with practical measures to ensure they keep their workers safe and businesses open.”
Treasurer Matt Kean said that it was vital businesses get the support they need to stay afloat and keep their workers in jobs.
“As we continue to protect the health and safety of our community, we have to ensure our economy is resilient and our businesses are supported so they bounce back from this most recent phase of the pandemic,” he said.
“The Small Business Support Program helps those businesses with annual turnover of between $75,000 and $50 million with a decline in turnover of at least 40 per cent by providing a payment covering up to 20 per cent of their weekly payroll.”
In addition, the existing Small Business Fees, Charges and RAT rebate will be increased by 50 per cent from the current $2000 limit to $3000 and employing businesses will be able to use the rebate to obtain RATs.
This will support worker availability by helping reduce costs to small businesses and enabling healthy staff who have been exposed to COVID-19, but test negative, to return to work.
Ms Turner said that the small business grants that have become available were also opportunities for those to transition their business where they may not have had the opportunity previously.
“BPS readily provides information to our business community in relation to available grants and can assist with the grant application process,” she said.
“The perception of grant writing and applications is often considered arduous and time consuming, but with guidance the outcome can be a gamechanger.”
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