Funding for Northern Territory small businesses significantly impacted by the coronavirus

The Small Business Survival Fund provides businesses significantly impacted by the coronavirus with funding to help them survive, adapt and prepare for the economic rebound.

Overview

There are 2 payments available, aimed at the following business sectors:

• food, drink and retail
• beauty and personal care services
• entertainment venues
• leisure and recreation

Businesses not listed in the above will be considered on a case-by-case basis.

Immediate survival payment

Provides an initial lump sum to help businesses offset immediate cost pressures and provide them with time to plan.

The payment amount depends on the size of the impacted workforce:

• $2000 for sole traders
• $5000 for businesses with 2 to 5 employees (FTEs)
• $20,000 for businesses with 6 to 19 employees (FTEs)
• $50,000 for businesses with more than 20 employees (FTEs)

To be eligible for this payment, businesses must be able to demonstrate:

• a reduction in turnover
• the impact of fixed costs
• an employment reduction

Rapid adaptation payment

Payments to help businesses make the necessary changes to adapt to the new operating environments:

• up to $1000 for businesses with one employee (FTE)
• up to $5000 for other eligible businesses to offset costs incurred in adapting their current business model to suit restrictions

What are the eligibility criteria?

To be eligible, your business must:

• be a legal entity and holder of a valid Australian business number (ABN) as at 23 March 2020
• be a Territory enterprise
• usually operate in one of the industry sectors affected by the social gathering restrictions announced on 22 March 2020 and 24 March 2020, and/or
• have been significantly impacted by the physical distancing requirements in response to the coronavirus (COVID-19) pandemic

How do you apply?

You can find out more about eligibility and how to apply at Small Business Survival Fund.