Support for Businesses - NT
The Northern Territory (NT) Government has announced measures to support businesses impacted by COVID-19. Below is a summary of each measure.
The information contained below is current as of 17 April 2020 and is provided for general guidance only. The information contained in this document is not specific to any individual or business, and should not be relied upon. You should obtain independent professional advice to ensure that any information is relevant to your circumstances.
Home Improvement Scheme
The scheme will help fast track around 5,000 screwdriver-ready projects in Territory homes by providing homeowners with vouchers where they undertake projects involving physical improvements to land and or buildings, or repairs and maintenance services. Homeowners accessing the scheme can only use registered tradies or contractors. Businesses can register to be a provider from 30 March 2020. For more details and to apply visit NT Business Recovery.
Business Improvement Grant
All Territory businesses will be able to access a $10,000 grant, followed by an additional $10,000 grant if they contribute $10,000 of their own. Each business is only eligible to receive one grant, and it can be used to complete one or two different jobs on their premises. The grant can be used to purchase goods and services to make permanent physical improvements to a business (land and / or building) that help improve its efficiency and customer experience. Businesses can apply for a grant from 13 April 2020. For more details and to apply visit NT Business Recovery: Business Improvement Grant.
Immediate Work Grants
Grants of up to $100,000 will be given to not-for-profit and community organisations to engage local businesses to do repairs, renovations and upgrades to their property and facilities. The first $50,000 will be paid as a grant, and the NT Government will also match any renovation costs that exceed $50,000 on a dollar-for-dollar basis up to a maximum of $100,000 total. Registrations for businesses to provide services open 30 March 2020. Grant applications open 20 April 2020. For more details visit NT Business Recovery: Immediate Work Grant.
Small Business Survival Fund
A $50 million fund to deliver grants to help keep businesses alive, even when they have to shut. Effected businesses in food, drink and retail services, beauty and personal care services, entertainment venues, and leisure and recreation can access between $2,000 to $50,000 to alleviate immediate cost pressures, and a further amount between $1,000 to $5,000 to help make necessary changes to adapt to new operating environments. For more details visit NT Business Recovery – Small Business Survival Fund.
Tourism Business and Industry Support
The NT government have developed the Tourism Resilience plan supported by $2 million in funding. This includes grants, rebates and $200,000 dedicated to intensive business support for tourism operators to ensure they can survive the economic impacts of COVID-19. For more details and submit an EOI visit NT Tourism: Grants and funding.
Creative Industries Funding
The Northern Territory Government will deliver a $2 million reprioritised funding program to support the Arts, Creative and Screen Industry sector. For more details visit NT Government: Creative industries sector.
Sport and Active Recreation Sector Support
A $1.3 million re-prioritised funding program will support the sport and recreation sector. A specific coronavirus (COVID-19) working group will also be established to guide a response and recovery plan for Territory sport and active recreation, to and ensure organisations can rebound strongly from this current crisis. Find out more.
Payroll Tax Exemptions
Businesses that employ Territory residents will be exempt from payroll tax until 30 June 2021. Find out more.
Territory Jobs Hub
The Territory Jobs Hub puts businesses in direct contact with job seekers living in the NT and looking for work. Businesses can search for workers with the skills and experience required and connect and communicate directly. Businesses can register here.
Direct Support for Businesses
Free and practical business advice for businesses is available through the Business Enterprise Centre on 1800 229 500.
The NT Government has a range of programs that support local businesses. The Department of Trade, Business and Innovation’s Small Business Champions team are on the ground to meet with businesses and provide support as required. Small business champions can be reached on 1800 193 111.
FOR MORE INFORMATION
You can find further detailed information on the NT Government website.
For support or to discuss your options about your business needs, you can contact your IBA relationship manager directly or register your interest. We are here to help.