In response to the ongoing impact of COVID-19, The Tasmanian Government has today announced a new $20m recovery package for small business.
The new COVID-19 Small Business funding includes $17 million in grants that will directly help local operators, and $3 million to enhance existing small business support programs and provide additional mental health support.
The $17 million includes applications for the $15 million Small Business Sustainability and Recovery Grant program, which will open at 12 noon on 3 August 2020 and close at 12 noon on 24 August 2020, with application details for an additional $2 million in a second round of the Small Business Continuity Grant program to be announced in the coming days.
Details of new grant program
Open: Monday 3rd August - 12 noon
Close: Monday 24th August - 12 noon
Aim: To assist small businesses across a number of sectors to sustain themselves, recover, re-open, build capacity and innovate whilst continuing to be impacted by the COVID-19 pandemic.
Value of grant: A limited number of grants of $5,000 are available.
Aimed to assist small businesses that:
- Operate in sectors that are heavily reliant on the visitor economy and will continue to be directly or indirectly impacted by border closures; OR
- Continue to be significantly impacted directly or indirectly by public health restrictions; OR
- Are reliant on contributing to the local supply chain of sectors that continue to be directly or indirectly impacted by border closures or public health restrictions; OR
- Are heavily reliant on exporting a significant proportion of their product to interstate and/or international markets that continue to be directly or indirectly impacted by COVID-19 related restrictions.
- The grant program will open for applications for a three week period from noon Monday 3 August 2020 to noon Monday 24 August 2020;
- This will be a competitive, merit based program, with limited funding of $15 million;
- Up to 3000 grants will be awarded;
- Assessment of grants will begin after the grant program has closed;
- Applicants will first need to meet all of the eligibility criteria before being assessed against weighted assessment criteria for the limited number of competitive grants;
- Applicants should note that meeting the eligibility criteria will not automatically result in a successful grant; and
- Eligible applications will be assessed on a competitive basis against the assessment criteria with a decision by an independent panel.
Please note: the program is not yet open. It will open at noon Monday 3rd of August and the eligibility criteria, guidelines, frequently asked questions and link to apply will be available here.
There will also be an additional $2m of funding for a second round of the Small Business Continuity Grant program. More information is still to come.
A further $3m is also being provided to enhance existing business support programs, including:
- the Tourism Industry Market Support Program;
- access to additional free business advice through Enterprise Centres;
- increased access to Digital Ready for Business; and
- additional initiatives to improve access to mental health support for small businesses, through a new Mental Health Support Program.