Victorian Business Support Measures
Business Support Fund – Expansion
For businesses affected by the return to Stage 3 restrictions in metropolitan Melbourne and Mitchell Shire.
With the re-introduction of Stage 3 restrictions in metropolitan Melbourne and the Mitchell Shire meaning many businesses are again impacted in operation, the Victorian Government has expanded the Business Support Fund to provide a one-off grant of $5,000 to eligible businesses.
Funding may be used to meet business costs including salaries, rent or utilities, to seek advice regarding business continuity planning, to develop marketing activities or any other operational costs.
To be eligible, you must:
- operate a business located within the stage 3 restricted zones
- be a participant in the Commonwealth Government’s JobKeeper Payment scheme
- employ people (sole traders not eligible)
- be registered with WorkSafe as at 30 June 2020
- have an annual payroll of less than $3 million in 2019-20 on an ungrouped basis
- be registered for goods and services tax (GST) as at 30 June 2020
- hold an Australian business number (ABN) and have held that ABN at 30 June 2020
- be registered with the responsible Federal or State regulator
Businesses that have received funding from other components of the Victorian Government’s Economic Survival Package are eligible to apply for this program.
To apply visit Business Victoria’s website here. Applications close 19 August 2020.
Regional Tourism Accommodation Support Program
In addition, accommodation businesses in regional Victoria impacted by cancellations are able to apply for direct financial support through the Regional Tourism Accommodation Support Program.
The support program will provide a payment of up to $225 per night up to a maximum of $1125 per bookable accommodation offering for the period of stage 3 restrictions, provided the booking has been fully refunded to the person/s who can no longer travel as a result of restrictions in metropolitan Melbourne, Mitchell shire or state boarder restrictions.
To apply visit Business Victoria’s website here. Applications will close at the end of current stay at home restrictions or when funds are exhausted.
What else is available?
CBD Business Support Fund
The Victorian Government is establishing a $20 million CBD Business Support Fund to help small businesses in Melbourne’s CBD faced with a large and sustained shock to their trading environments. More details will be available soon but in the meantime register here to receive updates if this may be relevant to you.
Night-time Economy Support Program
Details are sketchy but the Victorian Government has launched a $30 million dedicated fund for the hardest hit businesses in hospitality. More details will be available soon but in the meantime register here to receive updates if this may be relevant to you.
Other State Grants and Support Programs
You can find a roundup of all grants and support programs on the Federal Government’s Business website.
For our Victorian clients here is a detailed breakdown for our State.
We are here to help you
Please contact our team if you need guidance about any of the measures above with regard to your personal situation. We are here to help you and available to discuss which options are most suitable for your business.