FACING serious pressure from lobby groups, the NSW government has extended its rent relief package for small businesses by a further two months.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
It's welcome news for both Business NSW regional manager Joe Townsend and smaller outlets who still rely on the program to stay afloat.
"The extension of the commercial rental relief through to March 13 is really welcome news for businesses that have been struggling for the last little while due to lack of consumer demand," he said.
"The extension is obviously welcome to those businesses that had already negotiated with their landlord for rental relief, and for businesses that haven't yet commenced that conversation it's a worthwhile time to jump on board."
Last week Business NSW called on the government to extend the package, along with demands to change isolation rules.
Mr Townsend said he was pleased the organisation's calls had been answered, and is hopeful businesses will be in a position to stand on their own feet come mid-March.
"We definitely hope in this first quarter - so up until March - business should be able to normalise, and we should hopefully come over this hurdle and be able to sail a bit smoother," he said.
"We should have a clearer picture then of what is happening with Omicron, and with the peak behind us hopefully go back to normal."
Read also:
NSW Treasurer Matt Kean said keeping small businesses alive during these next couple of months would be crucial, as it could be the last major speed bump they have to overcome as the pandemic edges towards becoming an endemic.
"Small business is the engine room of our economy and we need to make sure we support impacted businesses through this latest Omicron wave," he said.
"With staff shortages and reduced foot traffic, many businesses are struggling at the moment but the ability to negotiate rent will give them a buffer so they can keep the lights on now and recover more quickly.
"We appreciate and acknowledge the constructive approach of commercial owners in working together with their tenants in these very challenging circumstances."
Commercial and retail tenants will be eligible for the rent relief if they have an annual turnover of less than $5 million and continue to meet the eligibility criteria for JobSaver or the Micro-business Grant, had those programs continued.
Our journalists work hard to provide local, up-to-date news to the community. This is how you can access our trusted content:
- Bookmark armidaleexpress.com.au
- Make sure you are signed up for our breaking and regular headlines newsletters here
- Follow us on Twitter: @ArmidaleExpress
- Follow us on Instagram @armidale.express
Follow us on Google News Showcase