Update on Coronavirus Business Support Fund

Stage 4 restrictions are already in place for metropolitan Melbourne, and stage 3 for Regional Victoria starting on Wednesday 5 August.

Following the announcement by the Premier Andrews yesterday to help slow the spread of COVID-19 in Victoria:

  • Stage 4 restrictions are in place from 6pm on Sunday 2 August for metropolitan Melbourne. For the details of the stage 4 restrictions per Industry, please refer to this document.
  • Stage 3 restrictions are in place from 11:59pm on Wednesday 5 August for Regional Victoria, including Mitchell Shire.

 

To support businesses impacted by these restrictions, one-off grants will be made available to eligible businesses under the Business Support Fund – Expansion program:

  • $10,000 for employing businesses in metropolitan Melbourne and Mitchell Shire in recognition of spending longer under restrictions
  • $5,000 for employing businesses in regional local government areas (except Mitchell Shire)

If your business has already received a BSFe grant or has applied for one, you will not need to re-apply. Successful applicants will automatically receive this additional allocation.

Applications for the program will be extended until 14 September 2020.

 

Other package includes:

  • $30 million dedicated fund for Victoria’s night time economy to support the hardest hit businesses in hospitality.
  • $26 million in mental health support will ensure Victorians dealing with the compounding challenges of running a small business can get the support they need as they navigate their way through the crisis.
  • $10 million business mentoring program, pairing small business owners with experienced professionals who can help them navigate their way through the crisis.
  • $40 million capped fund for regional tourism businesses to cover the costs of refunds.
  • $20 million fund to support small businesses in Melbourne’s CBD that are faced with a large and sustained shock to their trading environments.

 

Businesses will also benefit from an extended and expanded payroll tax deferral. Eligible businesses with payrolls up to $10 million can defer their liabilities for the first half of the 2020/21 financial year.


Source: Business Victoria

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