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$250m in COVID-19 Assistance for Victorian Businesses

 

The Victorian Government has announced the $250m Circuit Breaker Business Support Package in an effort to support small to medium business and sole traders as a result of the current restrictions imposed on Victorians.

The package will work to support those businesses that are unable to operate due to the necessary public health measures, which includes targeted support for the events industry, reaching approximately 90,000 businesses.

The package is made up of 3 separate programs including:

  • $190.01 million of a second round of the Business Costs Assistance Program
  • $40.7 million of a new round of the Licensed Hospitality Venue Fund
  • $20 million in targeted support for the events industry

So what does each package include?

Business Cost Assistance Program

$2,500 grants will be available for eligible employing and non-employing businesses from sectors that have been most impacted. This includes businesses that cannot operate under the circuit breaker restrictions and that cannot work remotely.

Applications will open on Wednesday the 2nd of June 2021 and will remain open for 3 weeks.

More information will be available shortly on the link below.

Business Cost Assistance Program

Licensed Hospitality Venue Fund

This program provides a $3,500 grant to businesses holding an eligible liquor licence and food certificate. The grant is available per premises if businesses own multiple.

 Applications will open on Wednesday the 2nd of June 2021 and will remain open for 3 weeks.

More information will be available shortly on the link below.

Licensed Hospitality Venue Fund

Victorian Events Support Package

This $20m package is dedicated to supporting businesses in the events industry that have incurred losses due to the circuit breaker restrictions.

More information will be available shortly on the link below.

Victorian Events Support Package

Further details regarding the Circuit Breaker Business Support Package are currently being worked through by the Victorian Government with further information to be released in the coming days. Visit the Business Victoria website for up to date information.

Below are additional Grants and Programs available from the Victorian Government that your business may be eligible for.

JobMaker Hiring Credit

An incentive for businesses to employ additional young jobseekers aged 16-35 years.

Jobs Victoria Fund

Financial support to employ those who have been most affected by the economic impacts of the pandemic.

Working for Victoria Fund

An initiative that matches up appropriately skilled unemployed Victorians with businesses looking for staff.

Tax Relief Measures

A range of tax relief measures available to eligible businesses such as payroll tax relief, liquor licence fees waived, land tax relief and more.

Business Recovery and Resilience Mentoring

A business mentoring program to help small businesses navigate the economic challenges posed by COVID-19 restrictions.

Wellbeing and Mental Health Support for Victorian Small Businesses

Mental health support for Victorians dealing with the challenges of running a small business to help them navigate through the impacts of COVID-19.

For all your business finance assistance, contact Morris Finance on (03) 5223 3453 today.

 

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