By: Elizabeth Daoud
The New South Wales government has announced more financial support measures to help businesses reopen with confidence after lockdown.
Premier Dominic Perrottet announced a Summer Holiday Stock Guarantee on Tuesday that would allow eligible businesses with an annual turnover between $75,000 and $50 million to apply for a grant of up to $20,000 to compensate for the loss of perishable stock if a local lockdown occurs.
The stock guarantee would be available if non-essential businesses were forced to shut their doors between December 1 2021 and January 31 2022 due to public health orders.
Perrottet said the measure will give businesses the confidence to “buy up big and get ready for a major summer trade”.
The Small Business Fees and Charges Rebate is also being increased from $1500 to $2000 and has been expanded to include the cost of tolls.
“We know that that is really going to support tradies right across greater Sydney who will also be able to access this rebate,” Perrottet said.
The expanded rebate will be eligible for use until 30 June 2022.
Perrottet said confidence for businesses and consumers was key for the economy to get back on track after the state’s three-month lockdown.
“I’m very confident we’re going to bounce back,” he told reporters.
“Last year, as we came through the pandemic, business confidence was key, was crucial, to driving economic growth, to ensuring that businesses continued to employ and bring people on and that is why we recovered every single job that was lost and that is why we will recover every single job again.
“It’s boom time in New South Wales.”
On Monday shops, gyms, cafes and hair salons were overrun as patrons responded to weeks of pent up demand as people ventured more than five kilometres from home to explore new freedoms.
And with NSW already on the verge of another critical COVID-19 vaccination milestone, crowds could soon be back in stadiums and nightclubs.
More than 80 per cent of the population is predicted to be fully vaccinated as soon as next Monday, the next threshold for easing restrictions.