The NSW government hopes grants of up to $10,000 for small businesses impacted by COVID-19 will help them stay afloat during this challenging time.
About 75,000 small cafes, restaurants, corner shops, gyms and small accommodation providers will be able to apply for the grants announced by NSW Treasurer Dominic Perrottet on Friday.
"We want to make sure that as many small businesses remain open or for those that have closed, re-open once this pandemic has passed," Mr Perrottet told reporters in Sydney on Friday.
"Small businesses are the lifeblood of the NSW economy."
The Berejiklian government is investing $750 million to provide the grants which will help small businesses severely affected by coronavirus with fixed costs, utilities and rent.
Premier Gladys Berejiklian says the grants will provide a boost for small businesses struggling during this unprecedented situation.
"These grants will provide a big boost, and we will make the application process easy to ensure small businesses can receive some cash-flow as soon as possible to meet pressing needs," she said in a statement.
Applications for the grants will open within a fortnight and will remain open until June 1.
NSW's peak business body welcomed the grants which are aimed at small "mum and dad" businesses with few employees.
"This latest initiative is particularly important for the survival of these smaller businesses and has been something that Business NSW has been championing since the start of the crisis," Business NSW chief executive Stephen Cartwright said in a statement on Friday.
"Keeping the doors open and staff employed will put businesses in NSW in the best possible position to resume normal trading as soon as the all clear is given by health authorities and the government."
Australian Associated Press