Barnaby Joyce

Further support for bushfire-affected small businesses

20 Jan 2020

Small businesses in bushfire-affected areas will be able to access new grants and loans under further assistance provided by the Federal Coalition Government.
 
Member for New England, Barnaby Joyce, said the comprehensive package will make it easier for those who have suffered direct fire damage, or have been indirectly economically impacted following the bushfires, to get back on their feet.
 
“Firstly, we’ll be delivering grants of up to $50,000 tax-free to businesses and organisations that have sustained damage as a result of the fires,” Mr Joyce said.
 
“We will also be rolling out loans of up to half-a-million dollars, featuring no repayments for two years, for businesses that have suffered significant asset loss or a significant loss of revenue.
 
“Similar to the Small Business Drought Loan which is open for applications from today, the bushfire loan would be for up to 10 years and used for the purposes of restoring or replacing damaged assets and for working capital.
 
“This is in addition to business assistance measures already in place from the Commonwealth and others announced recently including grants of up to $75,000 for primary producers affected by bushfire, a further $15 million to fund 60 additional rural financial counsellors and support workers and another $1 million relief top-up to each of the hardest hit local councils including five here in the New England Electorate.” 
 
The Government will also deliver $3.5 million to establish the Small Business Bushfire Financial Support Line as well as to fund 10 additional financial counsellors with the ability to provide advice to around 100 small businesses a day.
 
The Support Line will be staffed by small business specialist financial counsellors who will be able to provide information on the assistance and support available to small businesses in bushfire affected regions. While the specialist Support Line is being established, businesses can visit www.business.gov.au or call 13 28 46.
 
Today’s funding package responds to the needs expressed by small businesses on the ground and at the small business roundtable last week which saw chambers of commerce from fire affected regions, the Australian Chamber of Commerce and Industry and the Council of Small Business Organisations Australia come together with the Government to discuss the impacts of this natural disaster on small business.
 

Assistance available to individuals:

 

(ENDS)

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