New South Wales Premier Dominic Perrottet has announced additional financial support measures for small to medium businesses.

The Summer Holiday Stock Guarantee grant is part of the Economic Recovery Strategy and aims to give business owners the ‘confidence’ to navigate reopening and the months that follow.

Eligible businesses with a turnover rate between $75,000 and $50 million can apply for a grant of up to $20,000 to compensate for loss of perishable stock or claim $10,000 for reduced capacity to sell non-perishable items in the event of a local lockdown.

“Now that we’ve reached the 70 per cent double vaccination target, it’s wonderful to see businesses reopening their doors and welcoming back customers,” said Premier Perrottet.

“These measures will give businesses and workers confidence to purchase stock and invest for the future knowing their doors will remain open as we get our economy firing again.”

Small businesses will also be able to claim road user tolls under the Small Business Fees and Charges rebate, which has been increased from $1,500 to $2,000.

“The rebate can be used to offset NSW and local government fees and charges and adding tolls to the list of claimable charges is going to make a massive difference to many small business owners who use vehicles for work,” said Minister for Finance and Small Business Damien Tudehope.

“It hasn’t been an easy ride for businesses across the state and now we are reopening, this should give them some assurance that we will be there for them every step of the way.”

Additional information on the stock guarantee and rebate will be available shortly.

Image Credit: Swillhouse