Published on 25/02/2021 by Any Business.Com.Au

Our Guide to Further Relief for Victorian Small Businesses

Victoria's business community has been severely impacted by not one, not two, but three Covid-related lockdowns.

As a result, there are a range of support packages now available to small businesses that are desperate to recover and get back to some sort of 'normal trade'.

The package includes $92 million for a program that will provide grants of $2,000 to eligible small businesses, including sole traders.

Restaurants, florists, musicians, artists, wedding celebrants, the events sector and accommodation providers will be among the most affected industries expected to receive support.

As we head to the end of the latest restrictions, which meant many businesses that were expecting a bumper weekend due to Valentines Day and the Lunar New Year had to close due to Stage 4 lockdown, we take a look at what is available now to those businesses doing it the toughest.

Overall Funding

The Victorian Government has announced a further $143 million package to support eligible businesses impacted by the 'circuit breaker' action to limit the spread of Covid-19.

As a result of the package, there are four initiatives available for eligible businesses.

Business Costs Assistance Program

The new Business Costs Assistance Program helps eligible businesses with costs incurred as a result of the circuit breaker action.

For example, businesses may have incurred costs through loss of perishable food or produce and cancelled bookings.

Eligible businesses with an annual payroll of up to $3 million can receive a one-off grant of $2000, whether they have employees or not.

Licensed Hospitality Venue Fund – Circuit Breaker Action Payment

Eligible businesses who received a grant through the Licensed Hospitality Venue Fund will receive a further one-off payment of $3000 to help with costs incurred as a result of the circuit breaker action.

Businesses that receive this payment will not be eligible to receive a grant from the Business Costs Assistance Program.

Eligible businesses do not need to apply for this payment. They will be contacted directly with further information.

Victorian Accommodation Support Program

The new Victorian Accommodation Support Program is an expansion of the Regional Tourism Accommodation Support Program and includes tourist accommodation premises in Greater Melbourne.

This will support accommodation providers whose bookings were cancelled due to the circuit breaker action to limit the spread of COVID-19.

The $16.2 million Program supports tourism accommodation providers with a grant of one of two tiers of support for those with demonstrated booking cancellations between Friday 12 February and Wednesday 17 February 2021:

  • Tier 1: Funding of $2250 (ex GST) per Accommodation Premises experiencing 10 or fewer cancelled nights.
  • Tier 2: Funding of $4500 (ex GST) per Accommodation Premises with 11 or more cancelled nights.

The Victorian Accommodation Support Program will open soon. Register your interest in this program now.

Travel Voucher Schemes

Two travel voucher schemes will encourage Victorians to travel across the state, as the tourism industry recovers from the impacts of COVID-19 and bushfires.

The schemes include:

  • a new Melbourne Travel Voucher Scheme with 40,000 vouchers to support travel in greater Melbourne will launch soon
  • an expanded Regional Travel Voucher Scheme
    with an additional 10,000 vouchers to support travel in regional Victoria

This brings to 200,000 the total number of vouchers offered under the travel voucher schemes.

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AnyBusiness.com.au

Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

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