Victorian small businesses such as restaurants, pubs, bars, retail outlets, and more can now be helped by the new Victorian business support package that will be funded by both the Federal, and Victorian governments.
The package will add another $400M on top of the packages already announced this month. The package includes a new $85 million Small Business COVID Hardship Fund and $156 million Business Continuity Fund, as well as delivering support for commercial tenants and landlords.
“Last year, Victoria and our nation faced heavy blows from COVID, but with the right supports in place our economy and businesses came back strongly and a million people returned to work.
“We will continue to do what is necessary to support Victorian businesses as we face the evolving challenges of COVID-19.” said Prime Minister, Scott Morrison.
There are 5 key elements to the package:
Business Continuity Fund
A $156 million Business Continuity Fund will be established to deliver $5,000 grants to up to around 30,000 businesses that remain impacted by capacity limits placed on businesses by necessary public health restrictions.
Licenced Hospitality Venue Fund
The Licenced Hospitality Venue Fund will receive a $70 million boost, with grants of up to $20,000 to be made available to support licensed venues as their operations continue to be impacted by current restrictions.
Commercial Tenancy Relief Scheme and Landlord Hardship Fund
The package, to be fully funded by the Victorian Government, will deliver $80 million to provide support to landlords that provide rent relief to their tenants.
Small Business COVID Hardship Fund
A new $85 million fund will be established to support small businesses who have not been eligible under existing business support funds.
Alpine Business Support Program
Alpine Business Support will receive a further $9.8 million to deliver grants of between $5,000 and $20,000 to 430 Alpine based businesses in recognition of restricted inter and intra-state travel during the peak winter season.
Further information about the Victorian Business Support Package can be found here.
Information on how to apply, and eligibility criteria can be found on the Victorian Coronavirus website.
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