Small Business Survival Fund—Northern Territory

The Northern Territory Government is delivering a $120 million Jobs Rescue and Recovery plan to help keep Territorians in jobs.

The new $50 million Small Business Survival Fund will help local Territory businesses survive the unprecedented economic impacts of coronavirus (COVID-19).

This fund is specifically targeted at supporting industries such as retail, hospitality, tourism and entertainment businesses.

Eligible businesses will be able to apply for two payments:

  • an immediate survival payment of between $2,000 and $50,000 to help offset the immediate cost pressures on businesses
  • a rapid adaption payment of between $1,000 and $5,000 to help businesses make the necessary changes it needs to help adapt to the new operating environment.

The fund has three goals:

  1. Help local businesses survive through the partial or full shut-down period. For example, support in meeting unavoidable fixed costs.
  2. Help local businesses adjust and adapt to take advantage of the new consumer environment. For example, expanding online services, takeaway and delivery.
  3. Prepare local businesses to take advantage of the rebounding economy when the coronavirus (COVID-19) crisis is over. For example, upgrading premises or upskilling staff.

The fund will be administered by the Department of Trade, Business and Innovation and is targeted at businesses that have a significant reduction in trade due to the shutdown and social distancing provisions.

The fund was developed by an industry-led advisory board, chaired by respected Territory business leader Dick Guit.

The Small Business Survival Fund is available to eligible businesses in addition to other support, including the Jobs Rescue and Recovery Package and the Tourism Resilience Package.

Eligibility

This initiative is available to Northern Territory (NT) businesses that meet all of the following criteria:

  • a legal entity and holder of a valid Australian business number (ABN) as at 23 March 2020
  • a Territory enterprise
  • usually operates in one of the industry sectors affected by the social gathering restrictions announced on 22 March 2020 and 24 March 2020
  • has been significantly impacted by the physical distancing requirements in response to the coronavirus (COVID-19) pandemic – for example, staffing, turnover.

How to apply

To apply for the fund, follow these steps:

Step 1. You must read, understand and agree to the fund’s terms and conditions to apply.

Step 2. Apply online on the Smartygrants website.

FAQs

This initiative is available to Northern Territory (NT) businesses that meet all of the following criteria:

  • a legal entity and holder of a valid Australian business number (ABN) as at 23 March 2020
  • a Territory enterprise
  • usually operates in one of the industry sectors affected by the social gathering restrictions announced on 22 March 2020 and 24 March 2020
  • has been significantly impacted by the physical distancing requirements in response to the coronavirus (COVID-19) pandemic – for example, staffing, turnover.

To apply for the fund, follow these steps:

Step 1. You must read, understand and agree to the fund’s terms and conditions to apply.

Step 2. Apply online on the Smartygrants website.

The following principles and criteria will be used to assess applications to the fund:

  • the affected business must be operating in a defined industry sector listed below
  • demonstration of significant impact, in particular in relation to turnover, staffing levels and fixed and operational costs
  • applicants will be required to provide appropriate evidence to support their application to the fund
  • eligible recipients must comply with the NT Government’s buy local policy requirements
  • businesses that meet the fund’s objective (section 1.1 of the terms and conditions), intent and principles will be assessed on a case-by-case basis.

For more information, contact the Business Recovery team.

Small Business Survival Fund - Northern Territory - Frequently Asked Questions(FAQ)

Who is eligible?

This initiative is available to Northern Territory (NT) businesses that meet all of the following criteria:

  • a legal entity and holder of a valid Australian business number (ABN) as at 23 March 2020
  • a Territory enterprise
  • usually operates in one of the industry sectors affected by the social gathering restrictions announced on 22 March 2020 and 24 March 2020
  • has been significantly impacted by the physical distancing requirements in response to the coronavirus (COVID-19) pandemic – for example, staffing, turnover.

How to apply?

To apply for the fund, follow these steps:

Step 1. You must read, understand and agree to the fund’s terms and conditions to apply.

Step 2. Apply online on the Smartygrants website.

How are applications assessed?

The following principles and criteria will be used to assess applications to the fund:

  • the affected business must be operating in a defined industry sector listed below
  • demonstration of significant impact, in particular in relation to turnover, staffing levels and fixed and operational costs
  • applicants will be required to provide appropriate evidence to support their application to the fund
  • eligible recipients must comply with the NT Government’s buy local policy requirements
  • businesses that meet the fund’s objective (section 1.1 of the terms and conditions), intent and principles will be assessed on a case-by-case basis.

Who can I contact?

For more information, contact the Business Recovery team.

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