Business bulletin: 10 December 2020

From next week Territory businesses will be able to access support under two new grant programs to help them continue trading over the Christmas period and into the New Year.

The Small Business Survival Payment and Not-For-Profit Tourism Attraction Payment are aimed at supporting small businesses and not-for-profits that have been significantly impacted by the economic effects of COVID-19.

Much like the immediate Small Business Survival Fund payment offered earlier this year, businesses and tourism operators will be able to access one-off payments of between $2,000 and $20,000 depending on the number of full time equivalent staff they employ, over the traditionally low tourist season.

Both the Territory Small Business Survival Payment and the Not-for-Profit Tourism Attraction Payment are in addition to seven small business survival grants that were announced in the Jobs First Plan, as part of the 2020 Budget.

The Jobs First Plan builds on the Jobs Rescue and Recovery Package and the Small Business Survival Fund which were both announced earlier this year have helped keep businesses trading and Territorians in jobs during COVID-19.

Businesses can only apply once for either the Small Business Survival Payment or the Not-For-Profit Tourism Attraction Payment.

Applications open on 15 December and close once funds have been fully committed.

For more information and to apply, go to the Business Recovery website.

Territory small businesses will be able to apply for new support under the Northern Territory (NT) Government’s JobMaker Booster to address specific hiring needs for new workers.

The Small Business JobMaker Booster is part of the suite of initiatives, released in last month’s Budget designed to help Territory businesses recover, rebuild and adapt to new market conditions.

The first scheme under the Small Business JobMaker Booster builds on from the Australian Governments JobMaker Hiring credit incentive for employing young job seekers.

Eligible Territory businesses that employ a mature Territorian in a new job can register for the JobMaker Booster. This means businesses of all eligible employees will receive a $200 wage subsidy per week, per eligible worker.

The payment is in addition to all existing programs and aims to get unemployed Territorians into work.

Under the second scheme, the NT Government co-contributing matched funding to any peak industry body to support their interstate marketing campaigns that target workers to come to the Territory to fill needed jobs or skills listed under the NT Skills and Occupation Priority List.

To be eligible you must be a recognised peak body in the NT and the campaign must target workers outside of the Territory.

For more information and to apply, go to the Business Recovery website.

Darwin has been selected to host the 2021 Developing Northern Australia Conference.

The annual conference brings together leaders, decision makers, industry representatives and community to gain insight into investment opportunities, new projects and policy initiatives to advance economic and social development of our northern regions.

Northern Australia accounts for 5% of Australia’s population and 53% of Australia’s land mass.

In 2019-20, $205 billion worth of goods were exported via northern ports which accounted for 62% of all goods exported out of Australia.

The Territory is critical to a more prosperous and secure Australia. Hosting the conference in the Territory ensures the Territory Government continues to maintain a proactive presence and engagement in the northern Australia agenda. The ability to influence northern Australia policy will be enhanced through hosting this event.

To assist the successful delivery of the conference the Territory Government is providing funding and support as the host government partner.

Business events are a major economic driver for the Territory economy and have traditionally injected $38 million in estimated delegate expenditure into the economy each year.

Delegates to business events yield a greater rate of return than leisure tourists, generating a substantial economic investment into the Territory economy.

The conference is expected to attract over 250 delegates, which will deliver an estimated delegate expenditure of $850,000 to the local economy.

The conference will be held from 16 to 18 August 2021 at the Darwin Convention Centre.

To find out more about the 2021 conference, go to the Developing Northern Australia Conference website.

The Territory Economic Reconstruction Commission has released its final report, offering the blueprint for the Territory’s economic rebound and an ambitious goal of making the Territory a $40 billion economy by 2030.

The report advocates for a Territory wide approach to win more private investment and create more jobs, requiring the public, private and non-government sectors to work together.

The commission identified industries that are critical to grow our economy, they include:

• energy, including renewables and gas for manufacturing
• resources and agribusiness
• tourism
• defence and maritime, and
• digital and space industries.

The commission also identified regional growth, and Aboriginal economic development and empowerment as key to the Territory’s future success.

Government agency chief executive officers have now been tasked with developing implementation plans for each of the commission’s 22 focus areas.

To read the final report, go to the Jobs First website.

The Territory’s growing space industry has received a further boost with a historic signing between the Northern Territory Government, the Darwin Innovation Hub, the strategic investment arm of the Singapore’s Defence Science and Technology Agency, and Singapore Space and Technology Ltd (SSTL).

The memorandum of understanding will enable the Territory Government to be a strategic overseas partner to Project Cyclotron, a space technology focused venture building programme.

Project Cyclotron focuses on building regional space and deep tech companies, by providing them with highly customised support for commercial success, including investment, business and technical insights, marketing platforms and resources and market access in Asia Pacific.

Chng Zhen Hao, CEO Cap Vista, said, “we are delighted to be deepening our relationship with the Australian’s Northern Territory Government and Darwin Innovation Hub to work together to collectively benefit the SpaceTech ecosystem in the Asia-Pacific region.”

Further opportunities for collaboration include the launch of Singapore-built rockets, the Northern Territory’s Arnhem Space Centre and co-investment in innovative space and tech companies that add value to the Territory’s space industry supply chains.

Harley Paroulakis, chief executive officer of Darwin Innovation Hub said, “Project Cyclotron will provide the Darwin Innovation Hub the high-level government and institutional framework needed to deliver more projects and private sector capital to the Northern Territory space sector. It will provide capacity to build upon our established investments.”

“We hope that Project Cyclotron will open doors for increased research and development and facilitate launch and testing opportunities for the Arnhem region.”

Due to the Covid-19 restrictions, the signing took place over a hybrid event; on-site in Australia at the Darwin Innovation Hub and in Singapore at the High Commission of Australia, and virtually over Zoom.