What is the Small Business Advice for Recovery Program?

The Small Business Advice for Recovery Program is an initiative that provides small businesses with funding to engage an appropriate consultant to provide advice or a service that will help them recover from the impacts of COVID-19.

 

Objective

The purpose of this grant program is to assist Tasmanian small businesses recover from the economic impact of COVID-19.

 

Funding

Small businesses can receive a grant of $750 toward the cost of engaging an appropriate consultant to provide advice or a service that will assist the business in its recovery from the COVID-19 pandemic.

Total available funds available for this program for eligible Tasmanian businesses is $1.538 million. A maximum of 2 050 grants will be awarded.

 

Eligible Activities

Funding is available to access business recovery advice. Advice could cover issues, including:

  • cash flow projections
  • managing risk
  • diversifying the business
  • adding value to products and services produced by the business
  • marketing plans and/or business plans
  • legal matters
  • supporting the lodgement of an application for the Business Growth Loan

 

Eligible Applicants

To be eligible, you must:

  • have an Australian business number (ABN) as at 29 February 2020 that continues to be active
  • have employed fewer than 20 full time equivalent staff (FTEs) at 29 February 2020
  • have demonstrated an annual turnover of more than $50,000 (excluding GST) for 2018-19 or 2019-20 financial year OR for recently established businesses, estimate that annual turnover will exceed $50,000 (excluding GST) in the 2020-21 financial year
  • be a business located and operating in Tasmania with the business owner also residing in Tasmania
  • not be subject to any legal impediment, including bankruptcy or liquidation
  • have a business bank account in the same name as the applicant business name

 

Timing

Applications close 22 February 2021.

 

More Information