New $12.5 million lockdown support package announced for Territory businesses

by | Aug 20, 2021 | Business, News | 0 comments

Territory businesses that have been impacted by recent COVID-19 restrictions and lockdowns can access money through a new $12.5 million assistance package announced by the Federal and Territory governments.

Treasurer Josh Frydenberg announced the funding on Thursday, which will see a $9 million support program for tourism and hospitality businesses that rely on interstate and international tourists.

Under the scheme, employing businesses will be eligible to receive a $3000 payment, while sole traders will receive $1000. Businesses that qualify will need to have an annual turnover of less than $10 million and will need to prove they suffered a 30 per cent decrease in turnover as a result of the recent lockdown.

A further $1.3 million will be available through the Tourism Survival Fund for touring, professional conference organisers, exhibition build companies and eligible attractions that have been impacted by the lack of international visitors and that have not benefitted from tourism vouchers.

Payments of between $5000 and $30,000 will be available for qualifying businesses.

The rest of the funding will come from the Territory’s ongoing Small Business Lockdown Payment, which has been extended for a second week for businesses that need to remain shut until all restrictions lift.

The estimated total of $12.5 million in funding will be split by the NT and Commonwealth governments.

“We know small businesses have been doing it tough throughout the pandemic and this new package will give them the support they need to recover from the most recent lockdown,” Mr Frydenberg said in a statement.

“Federal Government support has never been set and forget and we will continue to work with the NT Government to support businesses through the pandemic.”

Chief Minister Michael Gunner said the government understood that “lockdowns hurt” businesses and that the new funding would help businesses bounce back.

“This support package will help business owners get back on their feet, which will help keep our economy ticking over,” he said.

“We thank the Commonwealth for backing … Territory business and tourism.”

Businesses can apply and get more information by visiting the business recovery website.

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