Government announces $20m in new business stimulus grants

The State Government will pump another $20 million into the state’s small businesses to stave of recession as they work to recover from the coronavirus. FIND OUT HOW TO APPLY >>

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THE government will pump an extra $20 million into the state’s small business to stave off the recessionary effects of the coronavirus pandemic.

Small Business Minister Sarah Courtney will today announce the new tranche of spending – which takes state government support for small business to $80 million.

“Small business is one of our biggest employers and also one of the sectors hardest hit during the pandemic restrictions and ongoing downturn in trade,” she said.

“During the past few weeks I’ve met with numerous small business operators, including through a series of regional roundtables, to hear first-hand their experiences and needs to support recovery.

Small Business Minister Sarah Courtney at a recent COVID-19 update. Ms Courtney is offering up a fresh $20 million in grants to help small businesses through the pandemic. Picture: RICHARD JUPE

“This feedback, along with the recommendations made by the Premier’s Economic and Social Recovery Advisory Council (PESRAC) in its first report, has informed the development of the new $20 million COVID-19 Small Business Sustainability and Recovery Assistance Package.

Ms Courtney said she had met with small business in recent week and had listened to feedback about the support they needed.

She said the funding she was announcing today would include $17 million in grants to

directly help local operators.

Applications for the $15 million Small Business Sustainability and Recovery Grant program will open at August 3 and close on August 24, 2020.

Details of an additional $2 million second round of the Small Business Continuity Grant program to be announced in the coming days.

There will also be $3 million to enhance existing small business support programs and provide additional mental health support.

The government’s previous rounds of funding have run into criticism from some business operators who missed out.

More than 18,200 Tasmanian businesses have received grants of up to $15,000, but some have complained the rationale behind success or failure was hard to understand and criteria changed after applications opened.

The government last month announced a review of 85 unsuccessful applications – of which 17 were given grants.

For more information go to www.business.tas.gov.au or call 1800 440 026.

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