The State Government, in conjunction with the Federals, have announced a range of support measures to assist businesses and individuals affected by the lockdowns in May, June and July 2021. These include:
Business Continuity Fund
- An extension of the former Business Costs Program.
- Grants of up to $5,000 and additional $2,000 for CBD businesses.
- Automatically paid to recipients under the previous grants.
- However unlike previously, if you were eligible under the former rules and did not receive a grant, you may now be able to join in.
Licensed Venue Hospitality Fund
- $20,000 for venues under an extension of the former grants, to be paid automatically.
- An extra $2,000 for CBD benues
Small Business COVID Hardship Fund
- Designed to catch businesses who have not previously been able to access support.
- For small businesses (payroll up to $10m) and not eligible under existing grants (see above), $5,000 if your revenue has declined by 70% or more.
Alpine Business Support Program
- Additional funds of between $5,000 and $20,000
Details of these programs will be available shortly at business.vic.gov.au
Also covered off on is the Commercial Tenancy Relief Scheme and Landlord Hardship Fund, which will assist tenants in reducing their rent by a proportion of lost revenue, and provide cash grants to landlords who have offered relief under the scheme. More details to come.
