$20 Million to keep Territory Businesses Operating and Territorians Working

$20 Million to keep Territory Businesses Operating and Territorians Working

The Territory Labor Government is continuing to protect jobs and deliver support to Territory businesses as part of our Jobs Rescue and Recovery Plan.

The coronavirus crisis is hitting Territorians hard and this government is doing whatever it takes to soften the blow and save jobs.

Today we are announcing the second stage of the $50 million Small Business Survival Fund.

$20 million of this fund will go towards ongoing payments to help cover operational costs, such as support to:

  • cover regular costs such as rent and utilities
  •  make invoice payments
  • keeping people in work who may not be eligible for the Federal Government’s JobKeeper payment, such as some casuals, recently-employed workers, and Visa holder workers.

Payments will be made over eight weeks with businesses eligible for fortnightly payments depending on the number of employees.

The $50 million Small Business Survival Fund is specifically targeted to support industries such as hospitality, restaurants, tourism and entertainment businesses who are bearing the brunt of this national crisis.  

Today’s announcement builds on the Immediate Survival Payments from the Fund, announced last month.

Businesses that are eligible for an Immediate Survival Payment will be automatically eligible for these payments as well.

So far the Small Business Survival Fund has received 786 applications for support, to help them adjust and adapt to these unprecedented times.

We expect more than 1000 Territory businesses will be supported through the Small Business Survival Fund, helping to support about 10,000 Territory jobs.

Quotes from Chief Minister Michael Gunner:

“Saving lives means we also need to save Territory jobs and businesses. I’m doing whatever it takes to protect businesses and our workers from the fallout of the coronavirus crisis.

“I know businesses are doing it tough and people need a job to pay the bills. We know from what’s happening interstate and overseas the pain isn’t going to end overnight. We will stick by you and help you get through this

“We are plugging gaps in the Federal Government’s package so no Territorian gets left behind.”