A rescue package for businesses impacted by the current NSW COVID-19 lock down was announced by Premier Gladys Berejiklian and Treasurer Dominic Perrottet on Tuesday June 29.

Small businesses of 20 or fewer employees including sole traders, may be eligible for grants of either $5000, $7000 or $10,000, depending on the nature of the loss in turnover they can demonstrate.

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A tourism or hospitality related business can claim the grants if its turnover is less than $10 million each year.

Business NSW has worked with the government on this initiative since the lock-down was confirmed on Saturday.

"The package is particularly well targeted and will start to hit the accounts of business owners from next month," said Business NSW Regional Manager Joe Townsend.

"Business NSW has been working with the government on this initiative since the lockdown was confirmed on Saturday, and by using the real experiences of our members, we were able to demonstrate the widespread need for a quick turn-around for this package," Mr Townsend said.

"It's often easy to sit back and criticise the government but when they act quickly and for the benefit of business owners and their employees, they rightly deserve credit.

"This will be one of the fastest and largest business support packages from any state in Australia in response to the pandemic.

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"Pleasingly these support measures will assist businesses across NSW, not just within the red zones. Local businesses have been impacted, whether this is through cancelled holidays or events such as the gymnastics tournament in Armidale," he said.

Application for the grants will be via Service NSW and be available in coming days.

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