$3 Billion Package for Victorian Businesses
Victorian Government declared a third round of the Business Support Fund, through which suitable businesses will get grants.
The Victorian Government is investing $3 billion to support businesses impacted by current restrictions and get ready for COVID normal business.
$3 billion in cash grants, tax relief, and cash flow support will be provided to Victorian businesses that have been most affected by coronavirus restrictions. The package will service businesses to survive and keep Victorians in employment.
Here’s what you need to know about the eligibility standards:
• Small and Medium-Sized Business:
The Business Support Fund will deliver up to $20,000 for business with a payroll of up to $10 million.
• Licensed Hospitality Business:
Grants of up to $30,000 for registered bars, clubs, hotels, cafeterias, and reception centre, based on their site and setting
• Business Chambers and Trade Groups:
A competitive grants program to support urban and local business chambers and trader groups
• Alpine Businesses:
Grants of up to $20,000 to support alpine businesses pay a service charge to Alpine Resort Management Boards
• Sole Trader Support Fund:
Grants of up to $3,000 to over 30,000 eligible sole traders who work from a commercial grounds or locality to which the sole worker is the occupant
Moreover, the Victorian Government will also allocate:
• A Business Adaptation package which will deliver additional funding, apparatuses, and resources to support businesses to get ready for reopening under COVID normal settings
• Waivers and deferrals where the Government will also deliver $1.8 billion in tax and cash flow support