NSW small business storms and flood support

What financial assistance is available to my business?

Small business recovery grants

Recovery grants of up to $50,000 may be available for small businesses and not-for-profit organisations affected by the ongoing flooding since August 2022.

A full list of eligible LGAs is available on the NSW Rural Assistance Authority's (RAA) Declared Natural Disasters webpage.

Apply online at Service NSW or call 13 77 88.

Concessional loans 

Concessional loans may be available for recent flooding events.

• Small business and primary producers concessional loans of up to $130,000
• Concessional interest rate loans for not-for-profits 
• Freight subsidies of up to 50 per cent for primary producers 

Rural Recovery grants

The grants are designed to provide short-term targeted assistance for recovery and reinstatement activities, including salvaging crops and repairs to damaged farm infrastructure (e.g. fencing) and equipment. 

Primary producer

Apply for grants up to $75,000 (direct damage).

Rural landholders

Apply for grants of up to $10,000.

A full list of eligible LGAs is available on the NSW Rural Assistance Authority's (RAA) Declared Natural Disasters webpage.

Disaster Recovery Payment 

One-off financial assistance for individuals may be available, at a rate of $1000 per eligible adult and $400 per eligible child.  

Disaster Recovery Allowance 

A fortnightly income supplement may be available to primary producers and sole traders who have lost income as a direct result of flooding disasters. 

For further information on Government flood assistance, including how to apply, go to: https://www.service.nsw.gov.au/campaign/storm-and-flood-assistance-businesses, or phone 13 77 88. 

Flood Grants Checker 

Determine what assistant your small business may be eligible for with the Service NSW Flood Grants Checker.

Help for affected small businesses to meet their tax obligations 

The ATO also offers assistance with meeting tax obligations for businesses impacted by floods. More information is available here.   

Help from your financial institution 

Australia’s banks have announced options to defer loan repayments for up to 3 months for those customers affected by the flood disasters in NSW and Queensland.

Depending on your circumstances, assistance may also include:          

• Waiving of fees and charges, including for early access to term deposits
• Debt consolidation to help make repayments more manageable   
• Restructuring existing loans free of the usual establishment fees   
• Offering additional finance to help cover cash flow shortages   
• Deferring upcoming credit card payments   
• Emergency credit limit increases

Contact your institution for further details.

Help from your telecommunications provider

Telstra and Optus are offering assistance for residential and small business customers who have lost services following the severe storms and major flooding across eastern parts of NSW. Contact your provider for more information.

The floods have put my business under extreme financial hardship, where can I get help?

If you’re experiencing financial distress because you’re unable to meet your financial obligations due to the direct impact of the storms and floods, there are certain steps you can take to seek relief. To read information about financial assistance available to small business, see here. 

What do I need to do to make an insurance claim?

To prepare an insurance claim, there are a few steps affected small business owners can take. Our office has a step-by-step a guide to help you put together your claim and assist you in getting paid quickly and smoothly after a disaster or disruption. To read the guide see here. 

Where do I get help with business recovery?

The Commission has information on how to recover from disasters and make your business more resilient.

The guide provides information on the five phases of disaster recovery – from the moment disaster hits to the days, weeks and months ahead. There are action checklists on how you can work through each phase of recovery.

The step-by-step guide is available here.

Recovery centres

These centres are designed to help flood-impacted communities begin the clean-up, rebuilding and recovery process.

For the most up-to-date list, visit: www.service.nsw.gov.au/floods/recovery-centres. 

Is the property owner responsible for the leaking roof?

If you are unsure whose responsibility it is to repair the damage to the premises, you can look at the terms of your lease agreement to understand these repair obligations. If you operate a retail lease shop and are unable to trade at this time or your trade will be diminished because of damage to the premises, you may be able to receive discounted rent for this period by negotiating with the property owner (lessor). 

If the property owner (lessor) and tenant (lessee) are unable to come to an agreement, contact our office to discuss options to resolve the dispute through our mediation service.  

What do I need to know about cleaning up?

After you have taken the necessary photos of the damage to the leased property for your insurance claim and record keeping, and you have taken the appropriate measures to assess that it is safe enter the premises again, advice from NSW Health can assist you to clean up safely.  

Where can I find mental health support that understands small business?

The impact of disasters, such as storms and floods, can take its toll on small business owners. The stress, worry and anxiety many operators experience can have an effect their health and ability to effectively run the business, and can impact those around them, including employees and family. To find out what mental health support is available to help small businesses, see here.