Level 2 financial support secured for WA businesses

Today’s announcement of increased support under the $72 million Level 2 Business Assistance Package from the State Government is welcome news for WA businesses.

Editor’s note: This article was updated on Friday, March 4.

As CCIWA has recommended, support is being extended to WA’s sole traders and microbusinesses — in other words, it’s available to all affected businesses, not just those in select sectors.

This is an improved approach, and the tiered support offerings of between $3,000 and $50,000 are comparable with other states.

For the Level 2 Small Business Hardship Grant Program, the period for small businesses to have experienced a 50 per cent or more decline in revenue has been reduced from four to two weeks.

The decline in revenue is for any consecutive period between January 1, 2022, and April 30, 2022, compared to an equivalent period in 2021.

An alternative period in 2021 may be used if the business did not operate at that time or it provides an inaccurate representation of the business’ financial situation.

For the Level 1 Small Business Rental Relief Package, the period of time for small businesses to have experienced a 30 per cent or more decline in revenue has been shortened from six to four weeks.

Applications for the Small Business Rental Relief Package will open on Thursday, March 10, while applications for the Level 2 COVID-19 Business Assistance Packages will open on Thursday, March 17.

Visit the Small Business Development Corporation website for more information.

While a 50 per cent reduction in turnover is still concerningly steep, this new flexibility will at least allow more businesses to access the support they need.

This will enable more of the sole, micro and small businesses who have been included in this package and need support, to be eligible.

We acknowledge this is the fifth program of support introduced by the State Government in recent months, and it’s an important recognition of the pressures and costs borne by WA businesses.

The coming weeks may prove to be the toughest in the pandemic for many businesses — CCIWA will continue to engage with Government on how to best support the WA economy.

Once again, we thank the many CCIWA members who have helped us make a stronger case for this compensation.

For COVID-19 advice and resources visit CCIWA’s COVID-19 Support Centre.

Our Employee Relations Advice Centre is also available to respond to your questions on (08) 9365 7660, or via advice@cciwa.com.

You may also be interested in

WA’s first infrastructure strategy tabled in Parliament
WA’s first infrastructure strategy tabled in Parliament
Western Australia's first 20-year State Infrastructure Strategy, 'Foundations for a stronger tomorrow', was tabled in Parliament today.
Read more »
Costs hitting regional businesses hard
Costs hitting regional businesses hard
Rising costs are savaging WA’s regional businesses — and both profit expectations and long-term confidence are declining.
Read more »
Regions savaged by rising costs
Regions savaged by rising costs
CCIWA Chief Economist Aaron Morey Rising costs are savaging WA’s regional businesses, with profit expectations and long-term confidence declining.
Read more »