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Extended support for Victorian businesses

Posted by: Ewen Fletcher on

Although Regional Victoria has come out of lockdown, support has been extended for Victorian businesses.

The Victorian government has announced a fresh $2.34 billion injection to its business support package that’s jointly funded by the federal and state governments in response to Melbourne’s ongoing Delta coronavirus outbreak.

Link to confirmation of extended support here.

Here’s a roundup of the small business support payments the Victorian government has announced to date.

Business Costs Assistance Program Round Four

Grants will be made to about 18,000 regional businesses at tiered levels, depending on worker numbers.

All details can be found here.

Small Business COVID Hardship Fund

The Small Business COVID Hardship Fund will now offer grants of up to $20,000 to small businesses that aren’t eligible for other grant programs and have experienced a 70% reduction in turnover.

All details can be found here.

Rent relief

The Victorian government reintroduced its Commercial Tenancy Relief Scheme. The scheme is available to businesses with a turnover of less than $50 million that have suffered a decline in turnover of at least 30%.

All details can be found here.

Licensed Hospitality Venue Fund

The support package will allow payments under the Licensed Hospitality Venue Fund to continue to flow weekly over the next month.

Businesses can receive $5,000, $10,000 or $20,000 payments per week depending on their size.

All details can be found here.

Alpine Business Support Program

Alpine businesses are eligible for automatic top up payments of between $10,000 and $40,000, depending on the business location and whether they employ staff.

All details can be found here.

If you need our assistance with any of these packages, please contact your Sharp Accounting business advisor.

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