The global pandemic is affecting businesses across the globe. As part of economic stimulus measures, governments and councils are providing a variety of funding options to try to help businesses pull through in these difficult times. If you have a business in the City of Sydney area and are in need of assistance, a grant could provide the cash flow boost your business needs.
If you are concerned about the future of your business and want to find out about the Covid-19 Relief Grants Program, we are here to help. In addition to the Small Business Grant for Sydney business owners, there is also a Quick Response Grant, which has been set up to help with urgent local initiatives. Read on to find out about the five different types of grant and if you meet the requirements.
Who can apply?
Any business owner or sole trader based within the City of Sydney who meets the specific criteria for each type of grant can apply. However, even if you are eligible, it does not guarantee that you will receive the grant as they are highly competitive. If you are unsure if you meet the exact requirements or which is the best for you, you can consult an accountant at Pherrus Financial Services. We can also help you with your application. Below is a list of potentially eligible applicants.
• not-for-profits including registered charities and social enterprises structured as:
– companies
– cooperatives (non-distributing)
– foundations
– incorporated associations
– indigenous corporations
– partnerships
– trusts including charitable trusts
• for-profits structured as:
– companies
– co-operatives (distributing)
– indigenous corporations
– partnerships
– trusts
– sole traders
– individuals
– unincorporated community groups.
Key contact details
Pherrus Financial Services
Call:(02) 9099 9109
Email: admin@pherrus.com.au
City of Sydney
Call:(02) 9265 9333
Email: CityConcierge@cityofsydney.nsw.gov.au
What benefits and grants are available?
There are five types of grant available. In addition to the Small Business Grant, that covers the majority of small business needs, there are other options, which may be more suitable for sole traders or not-for-profit organisations. For each type of grant, you will need to be able to demonstrate a different set of criteria prior to submitting your application.
Small Business Grant
For-profit organisations, including for-profit arts enterprises.
These grants are for for-profit organisations, including for-profit arts enterprises, employing up to 19 full-time staff. Funds can be used for costs associated with changing your business model, developing online and e-commerce capabilities, training, renovating or purchasing new equipment and software.
Available funding:
$10,000 per business
What you’ll need to prove:
– You’re a for-profit organisation with an ABN.
– You employ between 1 and 19 full-time staff, with applications considered from larger businesses in the hospitality and tourism industries under exceptional circumstances.
– Your organisation is located within our area
– How the grant will help support your business.
– The skills and capacity necessary to undertake the project.
Cultural Sector Resilience Grant
This is for sole traders or not-for-profit organisations.
These grants are designed to help sole traders and not-for-profit arts enterprises with fewer than 20 employees. Ideal for organisations that usually rely on income from events, classes, exhibitions or other public programs that are no longer permitted.
Available funding:
$10,000 per sole trader $20,000 per organisation
What you’ll need to prove:
– You employ less than 20 full-time equivalent employees, not including artists employed on a casual basis
– A significant loss of revenue
– A turnover of less than $10 million
– You’re located within our area or serve our local community
– How existing support from other levels of government is inadequate
– How you plan to adapt your operations to the restricted trading environment
Creative Fellowships Fund
These grants are for individuals and collectives to develop new projects during the restrictions related to Covid-19. Projects can be presented during or after the pandemic has passed.
– For sole traders, an individual or groups of individuals auspiced by a cultural organisation.
Available funding:
Fellowships provided up to $20,000 each
What you’ll need to prove:
– A significant loss of revenue
– You’re an individual, sole trader or a group auspiced by a cultural organisation
– Networks and professional experience within local cultural and creative sectors
– You can develop new projects and work with the community and cultural organisations
– How you’ll develop and share your project within 6 months of receiving funds
Community Services Grant
These grants are to help provide food, digital assistance and social connection to vulnerable groups such as the elderly. They’re open for not-for-profit organisations and social enterprises, or an individual or group authorised by an organisation in the Sydney area.
Suitable for not-for-profits (including social enterprises), or an individual or groups of individuals authorised under a relevant organisation.
Available funding: From $5,000 up to $50,000
What you’ll need to prove:
You’re a not-for-profit organisation or an individual or group authorised by a relevant organisation
You serve the Sydney area
You have networks and experience within the social service sector
How the grant will help you to support responding to the Covid-19 pandemic
Quick Response Grant
These grants are only for small-scale programs. Funds can be used for a variety of projects – from subsidising performances and classes online to helping businesses keep trading, and providing food and social connection for Sydney’s vulnerable populations.
The Quick Response Grant can be accessed by individuals, sole traders, unincorporated community groups, not-for-profits or for-profit organisations.
Available funding: From $2,000 up to $5,000
What you’ll need to prove:
– An innovative approach and creativity
– Skills and experience required for the proposed project
– Your connection to Sydney
– How the grant will help support responding to the Covid-19 pandemic
This program accepts applications all year and applicants are required to submit their application 8 weeks prior to the event taking place.
Activities should take place within 12 months of the submission date.
How to apply
Round 1 has already begun, with applications being accepted from 6 April 2020 and will close to applications on Monday 27 April 2020. The Round 1 Assessment report will be presented to the Sydney council on 18 May 2020. Some grants may be open to year-round applications, with no application deadline such as the Quick Grant Grant.
To check future dates visit The City of Sydney website.
In order to apply, you will need to decide which grant you are eligible for and which would best suit your specific requirements. After reading carefully through the documentation you should complete the form online. For further details see the City of Sydney guidelines or download the official document from the website.
How we can help
If you need expert accounting advice and have particular questions in relation to your business regarding eligibility for small business grants, contact Pherrus Financial Services today. We will be able to quickly run you through the best options and tell you which grant is the best for you. We can then help you to apply, making the process simple and less stressful. An application that is completed well could also increase your chances of being awarded your preferred grant.
