Accountants hold the key to unlocking stimulus for small business
Data from Service NSW shows that more than 292,000 applications for business support have been lodged as of August 2021. Approximately 82 per cent of those applications have been approved, which is a total of $2.3 billion in payments. Of this, only $1.8 billion has been paid out, meaning many businesses are still waiting for their stimulus payments.
Increasing vaccination rates suggest there is light at the end of the tunnel, however until the restrictions are eased our small businesses are not yet out of the woods. In the interim, accountants can play a critical role in helping small businesses access this support, not only for the benefit of individual livelihoods, but the broader economy.
Read more at mybusiness.com.au