NSW SME Summer Stock Guarantee

The NSW Summer Stock Guarantee gives small and medium enterprises (SMEs) in retail and hospitality the confidence to purchase stock and plan for trading during the busy summer holiday period between 1 December 2021 and 31 January 2022.

Businesses in the retail and hospitality industries may be eligible to apply for either a single grant payment of up to $20,000 to compensate them for the loss of perishable stock, or a single grant payment of up to $10,000 to compensate them for non-perishable stock; if the NSW Government issues a public health order, which requires non-essential businesses to close for a minimum of 7 consecutive calendar days between 1 December 2021 and 31 January 2022.

The Amount of Compensation

Eligible businesses can receive up to 100 per cent of the cost of perishable stock lost, up to a maximum of $20,000, as a result of being closed by a public health order for the closure of non-essential businesses for a minimum of 7 consecutive calendar days between 1 December 2021 and 31 January 2022.

Eligible businesses can receive:

• 30 per cent of the cost price of non-perishable stock lost, up to a maximum of $10,000 as a result of being closed by a public health order for the closure of non-essential businesses for a minimum of 7 consecutive calendar days (but less than 14 days) between 1 December 2021 and 31 January 2022.
• 50 per cent of the cost price (capped at $10,000) where the duration of the lockdown is 14 days or more.

Non-perishable stock includes seasonal retail stock such as clothing, footwear and seasonal decorations. It also includes non-perishable foodstuffs of a seasonal nature, for example non-refrigerated packaged foods such as seasonal confectionary. It does not include goods that are not likely to decline in value over the lockdown period.

Perishable stock is stock (e.g. seafood, fresh meat, fruit, vegetables, dairy products, flowers) that has a limited shelf life, spoils easily, decays, or becomes unsafe for consumption if it is not stored correctly or consumed shortly after purchase. It does not include:

• food that could reasonably be frozen or otherwise preserved for later consumption, or
• food that has perished due to equipment failure, loss of power or other events unrelated to the lockdown.

Eligible Businesses

In order to be eligible for NSW Summer Stock Guarantee your business or not for profit organisation must:

• have an Australian Business Number (ABN) and be operating in NSW as at 1 October 2021;
• had an aggregated annual revenue between $75,000 and $50 million (inclusive) for the year ended 30 June 2020 or 30 June 2021;
• be operating in both a local government area and an industry specified in the public health lockdown order;
• as a result of the lockdown: their perishable stock was wasted or unable to be used for the purpose for which it was acquired, or their non-perishable stock lost some, or all, of its value; and,
• the stock must have been purchased after 11 October 2021

More information

Click here to get more information from the Service NSW website about the NSW SME summer stock guarantee.

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