The new South Australian COVID-19 Additional Business Support Grant will deliver approximately $40 million in support to an estimated 19,000 local small and medium businesses in certain industries. The package aims to target SMEs in the sectors hit hardest, including hospitality businesses, performing art venues, artists and performers, tourism-dependent entities, gyms and transport.
The package will be funded on a 50-50 basis by the Commonwealth and the South Australian government, with the state government to administer the program.
Treasurer Josh Frydenberg said the new package recognised that despite SA’s lockdown having ended, ongoing health restrictions continue to have a significant impact on businesses right across the state.
The new round of funding includes $3,000 cash grants for employing businesses and $1,000 for non-employing businesses that have experienced a decline in turnover of 30 per cent or more over a two-week period as a result of the COVID-19 trading restrictions introduced from 28 July 2021. The businesses must fall within certain eligible industries.
An additional grant of $1,000 will be available for businesses in Adelaide’s CBD, in an attempt to alleviate the losses they’ve experienced with many workers staying home.
A new Major Events Support Grant of up to $25,000 will be available to hosts of events that were either cancelled or postponed due to the lockdown in July or further restrictions to 4 August. This grant will be funded by the South Australian government.
Prime Minister Scott Morrison commented that the new funding was in line with the government’s approach to determining what support was needed in each state.
“Our support has never been set and forget and we will continue to work with the Marshall government to ensure our funding reaches those small and medium businesses that need it,” Mr Morrison said.
Premier of South Australia Steven Marshall said the state’s COVID recovery relied on standing shoulder to shoulder with small businesses to navigate a way out of the pandemic.
“South Australians have done an incredible job of working together and now is the time to continue to pull together to support our hardworking small businesses who are the backbone of the state’s economy,” he added.
Applications for the grants open on 13 August and will close on 17 October 2021.