Business Improvement Scheme Announced By Chief Minister

Business Improvement Scheme Announced By Chief Minister

Northern Territory Chief Minister Michael Gunner

Business Improvement Scheme To Help Northern Territory Retail And Hospitality

Victor P Taffa

Northern Territory Government’s $65 Million Jobs Rescue & Recovery Plan is all about keeping shops open, cash flowing and Territorians working.

“When you spend a dollar in the Territory, you save a Territory job and in times like these we need our community to band together to keep our small, local businesses open.” Chief Minister Michael Gunner said.

“We are investing in our people and our Territory businesses through the Business Improvement Scheme. This scheme is assisting Territorians through this difficult period and beyond.”

A big part of this plan is helping small businesses undertake improvements and changes to their shops to bring in customers and help them keep their staff in jobs.

$20 Million Business Improvement Scheme works by:

  • Providing all eligible businesses with $10,000;
  • If the recipient also wants to put in their own $10,000, they will then get an additional $10,000 from the Government, creating a $30,000 value;
  • Upgrades and purchases have to be from another Territory business. This could include buying new equipment, new shop fit-outs and physical changes to attract customers.

Purpose of the scheme is to keep Territorians in a job and reinvigorate premises to keep bringing customers in the door. Another option for businesses is getting help in adapting to the consumer change which is currently happening.

This means getting businesses online or upgrading their online presence through the $5 Million Business Structural Adjustment Package, while also helping local businesses who need to physically adjust their spaces to abide by the 100-person rule.

Business Improvement Scheme is open to all Territory businesses which are:

  • A legal entity and hold a valid Australian Business Number as of the date the program is open,
  • Is operating in the Northern Territory in either owned or leased premises,
  • Has a significant permanent presence in the Northern Territory,
  • Employs Northern Territory residents (this can be you if you are a sole trader).