The initiative that temporarily removes fee payments will save up to $50 million for small businesses and provide much-needed support during a difficult time, according to NSW Premier Gladys Berejiklian. She said the scheme will benefit an estimated 200,000 firms.
Customer Service Minister Victor Dominello said measures such as this were important and added:
“These measures put business and workers first so they can continue to be the lifeblood for their communities across the State. We are going to help them withstand this storm, so they can hit the ground running later.”
With the community's safety and health a major priority, the NSW government believes it is also important that the state's economy emerges at the end of it all having a strong base on which to build.
Another aim of the initiative is to not only to keep businesses operating but also to help keep people employed where possible across all areas ranging from cafes to printing services.
Those industries hardest hit by the COVID-19 restrictions, such as in the hospitality and entertainment sectors, are set to benefit greatly by the 12-month waiver that will cover certain charges and fees with Fair Trading and SafeWork NSW.