New Business Grants
As marketing strategists, we're always finding new ways to grow revenue. We were enlightened recently when we learned of the NSW Small Business Grant. Free money from the government to the tune of $2k per employee. For real.
"The grant is designed to encourage small businesses to grow and retain staff for at least a year." Says Janine Parnell of The Bookkeeping Store.
Eligibility for the business is to have an ABN and not pay payrol tax. The employee must work for 12 months and have started the role after 1st July 2015. Finally, the number of employees for the business must have increased when that person started and maintained for 12 months.
This is great news for new businesess and start-ups, especially when the director is on the payroll, as that's $2k in the bank at the end of the first year. A new start-up that has grown from 0 employees to a team of 4 could easily bank $8k.
We're delighted to have taken advantage of this ourselves and encourage all businesses to read the guidelines. Here's the factsheet from Revenue NSW