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Canberra Today 12°/16° | Saturday, March 30, 2024 | Digital Edition | Crossword & Sudoku

Grants open for struggling businesses

EMPLOYING businesses and non-employing businesses significantly impacted by the ACT’s current lockdown can now apply for grants.

The grants, a joint fund between the ACT government and federal government, will provide up to $10,000 for employing businesses and up to $4000 for non-employing businesses.

ACT businesses who have experienced a decline in turnover of 30 per cent or more during the lockdown and have an annual turnover of more than $75,000 per annum are eligible. Businesses can apply at any time until October 7 and will not have to submit individual applications for each week.

Payment will be made in a lump sum on average within 30 days of receiving a correctly lodged application.

ACT Chief Minister Andrew Barr estimates about 10,000 local businesses could be eligible for the grants, with 8500 local businesses already expressing an interest in the scheme.

“We estimate that the program will cost around $75 million with costs shared 50/50 with the Commonwealth,” he says.

Any Canberran who is unable to earn an income during the lockdown may also be able to access payments of $200 to $750 through the Commonwealth Government’s COVID-19 Disaster Payment administered through Services Australia.

Businesses can apply for the grants through the online ACT Government’s Business hub. The Canberra Business Advice and Support Service is also available for any local business owners seeking free, specialised advice on their circumstances.

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Ian Meikle, editor

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