Businesses that have lost 30 per cent or more of their turnover can apply for the new stimulus package announced by the federal government on Monday.
Businesses will be subsidised up to $1,500 a fortnight per worker to keep staff employed rather than joining the queues at Centrelink.
The subsidies will last for six months, with full-time, part-time and casual workers who have been with their employer for at least 12 months eligible. Sole traders are also included in the package.
Workers that have been stood down since March 1 will be eligible, with payments beginning in the first week of May and will be backdated until March 30.
With support from various banking institutions, the federal government has set aside $320 billion to deal with the fallout from the coronavirus.
The food and beverage industry is in a good position with production ramping up as supplies grow short in some categories. The acting CEO of the Australian Food & Grocery Council, Dr Geoffrey Annison, said the industry is working to make the supply chain stays open.
“International supply chain interruptions are likely in the current environment and the AFGC is working with key stakeholders, including suppliers and government, to ensure these are mitigated as much as possible,” he said. “Their impact at the consumer level is anticipated to be negligible.”