NSW $1B business support package welcome but too late for some

Published January 31, 2022 -
NSW $1B Business Package

The $1B support package announced for businesses in New South Wales will offer some help for employers who have been struggling to stay open over the summer period, but for others it could be too little, too late.

Business owners with a turnover of less than $50 million and who can prove a 40 per cent turnover decline in January will be given a payment of 20 per cent of their weekly payroll from mid-February when applications open – capping out at $5000 a week.

Employsure, Australia’s largest workplace relations advisor, has heard the hardships business owners have faced over the past several months. In January alone Employsure has received thousands of calls to its employer advice line from its 31,000+ client base, as COVID continues to cause disruptions across the country.

“Although there have been support packages in the past, for most employers they are still walking a fine line financially as they struggle to sustain their business,” said Employsure Business Partner Emma Dawson.

“One of the toughest trends we’ve seen over the summer period has been temporary closure due to a COVID infection in the workplace. With too many employees off sick, businesses have been forced to close and miss out on crucial revenue. To add to that stress, employers must then navigate the minefield of figuring out what leave employees are entitled to and how much they must pay accordingly.

“Rapid antigen tests have been hard and expensive to come by to potentially enable these employees to come back into the workplace sooner, so it is welcome news this package will support with the purchasing of them.

“Any assistance for business, particularly small business, is welcome and will indeed take the strain off thousands of employers across the state. However, for some, the damage has already been done and permanent closure could be an inevitable result of these disruptions,” she concluded.

 

Media enquiries:

Matthew Bridges

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