NSW Storm and Flood Disaster Recovery Small Business Grant

The NSW government has recently opened up the application process for the storm and flood disaster small business grant. The grant is designed to assist small businesses and not-for-profit organisations based in NSW who have been directly impacted by the February and March storms and floods.

A grant of up to $50,000 is available to help pay for the cost of clean-up and reinstatement of business operations.

Eligibility

You must be a small business owner or a not-for profit organisation in a defined disaster area and:

• have suffered direct damage – 'direct damage' means a direct and material impact of flooding on business assets or equipment.
• be primarily responsible for meeting the costs you are claiming
• intend to re-establish your small business or not-for-profit organisation within the same area
• if you are a small business, have held an ABN (which you currently hold) and engaged in carrying on the small business at the time of the floods in the defined disaster area
• if you are a not-for-profit organisation, be registered with the Australian Charities and Not-for-profits Commission (ACNC) or an equivalent state regulatory body and have held that registration at the time of the eligible disaster.

You may also be eligible if your small business or not-for-profit organisation is located outside the defined disaster area, but:

• operates on a part-time or regular basis within the defined disaster area, and
• plant or equipment your small business owns was located in the defined disaster area and was damaged by the eligible disaster.

Sole traders

Sole traders with no employees who fulfil the above criteria are eligible to apply if you can show that you derive a majority of your income from the small business, or that:

• immediately before the eligible disaster, you derived a majority of your income from the business, and
• the majority of your income would have come from the business again if not for the eligible disaster.

Running multiple businesses

If you operate multiple small businesses, you may apply for grant funding for each eligible separate business up to the maximum amount available.

Funding Available

The maximum grant amount available is $50,000.

• Funds of up to $15,000 will be provided to eligible, approved applicants based on quotes you will need to submit when you apply. You do not need to provide evidence of payment at this stage.
• Evidence, including valid tax invoices, will be required in relation to the first $15,000 if you are seeking funding from $15,000 to $50,000.
• To receive funds of between $15,000 to $50,000, you will need to submit evidence of payment of the relevant costs at the time of application.

If your initial grant application is for an amount less than $50,000, you can submit further applications if you require additional funds to complete eligible clean-up and reinstatement activities.

What’s not covered

The grant is not available:

• if you’ve successfully received funding or assistance from any other government source or program or donation for your small business or not-for-profit organisation and that funding or assistance has met the same costs you are claiming in your application
• if you’re entitled to make a claim under an insurance policy for the expenses listed in your application
• if you’ve received or are entitled to receive the expenses you are claiming under an insurance policy
• to cover loss of income as a result of the eligible disaster
• if your claim is for repairs to a building that the small business or not-for-profit organisation lets to a person for residential or commercial purposes, unless you let the property in the course of operating the small business or not-for-profit organisation. Superannuation funds and personal investment vehicles are not regarded as businesses.
• if you are a sole trader with no employees and you do not derive a majority of your income from the business.

For more information and to apply

Click here for more information and to apply for the grant.