Councils of Small Business Organisations Australia chief executive Alexi Boyd said the package will allow businesses that are strong and viable in normal circumstances to now have a better chance to get through this devastating omicron outbreak.
“This support package is also a welcome acknowledgement of the thousands of small businesses who have bent over backwards to limit the spread of COVID-19 by closing for months at a time, learning about and implementing infection control measures, enforcing check-in rules, encouraging their staff to get vaccinated, and purchasing rapid antigen tests,” Ms Boyd said.
“We particularly commend the NSW Government’s decision to base eligibility criteria on a decline in turnover. What some people don’t realise is it’s not just the businesses you see on the high street who are being affected by COVID-19. Behind the cafes, shops, restaurants, and bars are hundreds more small businesses supplying them, advising them, and working with them – ultimately, they’re all affected.”
The package is aimed at businesses with a turnover of under $50 million and a 40 per cent decline in turnover in January that will now be eligible for a payment of 20 per cent of weekly payroll. It also includes $80 million towards underwriting ticket sales in the performing arts sector. The Fees and Charges Rebate is being expanded to subsidise rapid antigen tests by 50 per cent.
“By supporting small businesses, we’re not only supporting jobs and the economy – we’re supporting community, culture, and what makes our cities and towns unique. Neighbourhoods are often identifiable by the unique mix of small businesses that line the high street – no one wants to see a ‘for lease’ sign where their favourite cafe, bookshop, antique store or hairdresser once was,” Ms Boyd said.
“What we’d like to see is governments at all levels being aware of the value that small businesses bring to local economies and communities.”
ANZ managing director commercial and private banking Isaac Rankin said as SMEs are continuing to navigate the current challenging COVID environment, much-needed support packages help provide them with more certainty to keep their staff safe and continue operating.
“Many businesses are grappling with staffing and supply chain disruptions and recent spending data indicates a decrease in consumer activity,” he said.
“SMEs play a critical role in the Australian economy and their success is vital. Easy and simple access to finance will help drive investment and create jobs.”