The balancing act of managing cash flow while you grow your business by taking on a new hire can be made a little bit easier by accessing the NSW Government's Small Businesses Grant.
The grant is designed to encourage the nearly 650,000 small businesses in New South Wales that do not pay payroll tax to hire new employees and expand their business.
Some of the conditions on accessing the grant are that:
- your business has a current ABN and does not currently pay payroll tax,
- The person is employed in a position that is a new job.
- The employment commences on or after 1 July 2015 and before 1 July 2019.
- The employment is maintained for a period of 12 months.
- Your number of full-time equivalent (FTE) employees, prior to creating a new position must increase and be maintained over a 12 month period.
- The services of the employee are performed wholly or mainly in NSW.
The grant amount is $2,000 payable per full-time equivalent position as at the anniversary date.
You can apply for the grant here: http://www.revenue.nsw.gov.au/grants/sbg.