The New South Wales Government released the COVID-19 Recovery Grant last week. It is designed to help the small businesses hardest hit by COVID-19 to get back on their feet and open their doors faster. The grant offers between $500 and $3,000 to the eligible businesses.
There are many terms and conditions that define eligibility. They are listed below and a link to the NSW Government information page is also attached here.
As at 01/03/2020 you must:
- be a small business or a not-for-profit organisation based in NSW.
- have an ABN registered in NSW (used to determine eligibility so make sure all your details are correct)
- have an annual turnover greater than $75,000 a year. (A BAS will be required to prove this)
- Employ less than 20 full-time equivalent staff.
- be able to report a payroll below the payroll tax threshold of $900,000
- be a highly impacted industry by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020
- have experienced at least a 30% decline in turnover from march to July 2020 in comparison to the equivalent period in 2019.
- have costs associated with re-opening or marketing your business.
If you have received a COVID-19 small business support grant (up to $10,000) and are in the highly impacted industries you will highly likely be eligible for the $3,000 grant.
During such difficult times, it is imperative that marketing remains at the forefront of business spending. As with no marketing, there are no leads. No leads mean no sales, and without sales, there is no revenue. Hence starts the downward spiral to the closure of the business.
If you are eligible for the grant, you are most likely having a very difficult year, but using the $3,000 to grow your business may be the kick start you need to rebuild your business.
How far could $3,000 go in marketing?
As with any question like this, how long is a piece of string? $3,000 is not a small amount of money, and depending on your industry will depend on the results.
A standard Pay Per Click campaign with Google will cost approximately
$750 in management fees, and you should spend a minimum of $750 of ads. Hence your $3,000 would generate close to 2 months worth of free Google advertising.