Business Resilience Package Announced
Over the weekend the Victorian Government announced a Business Resilience Package, which includes a range of funding and support for businesses affected by COVID-19 restrictions. Premier Daniel Andrews has stated the money would start to hit bank accounts in “the next week or so”
The latest business support announcements include:
Third round of business support grants
The amount of grants available from this program range from $10,000 to $20,000 depending on the business’ annual payroll.
An eligible business will receive:
$10,000 if its annual payroll is less than $650,000
$15,000 if its annual payroll is between $650,000 and $3 million
$20,000 if its payroll is between $3 million and $10 million
For more information and to apply for the 3rd round visit the Business Vic Website
Applications will open on Friday 18 September.
Payroll tax deferred for entire 2020-21 financial year
Businesses with payrolls of up to $10 million will have their payroll tax deferred for the 2020-2021 financial year. A further $137 million worth of tax relief packages will include waiving and deferring charges like liquor licensing fees and the congestion levy.
Outdoor Eating and Entertainment Package
This package will provide $87.5 million to councils and businesses outside of Melbourne’s CBD to make widespread outdoor dining safe, practical and a reality this summer.
$58 million will go towards grants of up to $5,000 to help hospitality businesses pay for the practical things that will make this plan work – umbrellas, outdoor furniture, screens and other equipment. There will also be investment in training, advertising, and the other supports businesses will need as we take our café culture outdoors.
Licensed Hospitality Businesses
Grants of up to $30,000 will be made available for licensed pubs, clubs, hotels, bars restaurants and reception centres which will be determined by the venue capacity and location.
Grants for Sole Traders Announced
Grants of up to $3,000 will be on offer to some sole traders as part of a $100 million package.
The Victorian Government says this will help around 33,000 sole traders include sectors such as retail, accommodation & food services, creative & media, gyms, events, education and training who operate from a commercial premises or location as a tenant.
This indicates the sole trading funding isn’t directed to home based businesses unless some of the other criteria can be met.
Long-term support for when 'COVID normal' is reached
The Government will invest $44 million to help businesses adapt to a "COVID-normal world".
The funding includes $20 million for small businesses to access digital programs. Another $8.5 million will be put towards marketing and advertising for the Government's Click for Vic campaign that was established last month to help Victorians support local businesses, regional producers and country markets.
Victoria's export market will receive a $15.7 million recovery package to establish new export channels and help with logistics.
For further information on these Victorian Government Grants and funding support visit their website. For updates on the Roadmap to Reopening visit the VIC Gov website.
Bruce Marshall
Coordinator Economic Development & Tourism