Round 3 of Victorian Government Business Grants & Initiatives
This week, the Victorian Government announced a third round of support packages – ensuring businesses impacted by coronavirus (COVID-19) restrictions continue to receive the support they need to make it through restricted trading.
Below is a summary of some of the key initiatives which will be delivered to Victorian businesses.
Business Support Fund - third round
Through this third round of the Business Support Fund, eligible businesses will receive grants of $10,000, $15,000 or $20,000, depending on the business’ annual payroll.
Only employing businesses in the eligible sectors listed here can apply for a grant from this program, in recognition that these industries are the most affected by coronavirus (COVID-19) restrictions.
Applications are now open.
Business Resilience Package
$3 billion in cash grants, tax relief and cashflow support will be delivered to Victorian businesses that have been most affected by
coronavirus (COVID-19) restrictions. The package will help businesses survive and keep Victorians in jobs.
- Small and medium sized business ($822 million): The third round of the Business Support Fund provides grants of $20,000, $15,000 or $10,000, depending on size, to around 75,000 eligible businesses with a payroll of up to $10 million. Applications open Friday 18 September 2020.
- Licensed Hospitality Business ($251 million): The Licensed Hospitality Venue Fund provides grants of up to $30,000 for licensed pubs, clubs, hotels, bars, restaurants and reception centres, based on their venue capacity and location, plus liquor license fees waived until 2021.
- Sole Trader Support Fund ($100 million): The Sole Trader Support Fund provides grants of up to $3,000 to over 30,000 eligible sole traders in sectors such as retail, accommodation and food services, creative and media, hairdressing, gyms, events, education and training who operate from a commercial premises or location as a tenant.
- Alpine businesses ($4.3 million): Grants of up to $20,000 to help alpine businesses pay a service charge to Alpine Resort Management Boards.f
- Business Chambers and Trader Groups ($3 million): A competitive grants program to support local business groups and chambers of commerce in helping their members adapt to COVID Normal.
Business adaptation initiatives
The Victorian Government's $3 billion economic survival and jobs package provides additional funding, tools and resources to help businesses adapt and prepare for reopening, under COVID Normal settings.
Outdoor Eating and Entertainment Package ($87.5 million)
This package includes support for hospitality businesses to prepare for COVID Normal reopening across Victoria including grants of up to $5000 for hospitality businesses to help them adapt to outdoor dining.
Building digital capability ($20 million)
This voucher-style program will assist sole traders and small businesses in building their digital capability through off-the-shelf digital programs and workshops designed to help adapt to online operations.
More information will be available at business.vic.gov.au
Further support for Click for Vic ($8.5 million)
Click for Vic, a new website and campaign aimed at encouraging Victorians to buy produce, gifts and fashion from local businesses, will be boosted with increased marketing and advertising and the digital platform and its partnerships with third-party e-commerce providers will be expanded to sell these strengths far and wide.
See how your business can get involved
Victorian Export Recovery Package ($15.7 million)
This package will help Victorian exporters get their products to market by addressing logistics and supply chain issues caused by the COVID-19 pandemic, and establishing new trade channels through virtual trade missions and assistance adapting their export strategies in a rapidly changing global market.
Register your interest
Melbourne City Recovery Fund ($100 million)
This is a partnership between the Victorian Government and the City of Melbourne to support Melbourne’s CBD on the roadmap for reopening to COVID Normal in the lead up to Christmas and during summer.
Waivers and deferral of charges
The Victorian Government's $3 billion economic survival and jobs package is providing $1.8 billion in tax and cashflow support.
Payroll Tax Relief ($1.7 billion)
Businesses with payrolls up to $10 million can now defer their payroll tax for the full 2020-21 financial year, providing a $1.7 billion cashflow boost for businesses.
Further waivers and deferrals of charges ($137 million)
The Victorian Government has announced a further $137 million in waivers and deferrals of charges, including liquor licence fees, the congestion levy and increases to the landfill levy. The 50 per cent stamp duty discount for commercial and industrial property across all of regional Victoria will be brought forward to 1 January 2021 and the Vacant Residential Land Tax will be waived for properties that are vacant in 2020.
Details about further waivers and deferrals
Mental health support for business owners and workers
Running your business in these challenging times and having the sole responsibility for it can take its toll on your mental health and wellbeing.
In recognition of these impacts, the Victorian Government has announced a $26 million program addressing the mental health needs of sole traders and small and medium business owners and their workers.
This free, confidential service delivered in Melbourne’s East by EACH, offers one-on-one support to help you improve your wellbeing, develop strategies to cope and provide emotional support when and as you need it.
For more COVID-19 resources and information please visit the DHHS website to receive live updates and up-to-date messaging as we progress through the Victorian Government's roadmap to COVID Normal.