Extended support for Victorian businesses

A jointly-funded support package from the Commonwealth and Victorian governments will provide a critical four-week boost to small and medium-sized Victorian businesses most impacted by the current public health lockdown.

Business Costs Assistance Program Round 4

Businesses will receive automatic payments of $2,800 a week (annual payroll below $650,000), $5,600 a week (payroll of $650,000 to $3 million) or $8,400 (payroll of $3 million to $10 million) to cover ongoing costs such as wages, rent, utilities and insurance.

Businesses will remain eligible while they are unable to operate due to public health restrictions.

Licensed Hospitality Venue Fund 2021

Licensed hospitality businesses that have previously received grants under the Licensed Hospitality Venue Fund 2021 or July Extension programs will receive automatic payments of $5,000, $10,000 and $20,000.

Payment amounts are tiered according to premises capacity: $5,000 for a capacity of up to 99 patrons or where patron capacity is not specified, $10,000 for a capacity of 100 to 499 patrons, and $20,000 for a capacity of 500 or more.

Hospitality businesses will remain eligible while they are unable to operate due to public health restrictions.

Small Business COVID Hardship Fund

Increasing the total grant amount available to small and medium-sized businesses from $14,000 to $20,000 in recognition of the impact of the lockdown extension.

Some 16,000 businesses that have already received a Small Business COVID Hardship Fund grant will receive an automatic top-up payment of $6,000.

This program supports businesses that have been ineligible for Victorian Government business support programs since May but have experienced a reduction in revenue of at least 70 per cent.

This includes businesses that are legally allowed to operate but are restricted in their ability to generate revenue.

Applications for the Small Business COVID Hardship Fund will close on September 10. Apply here: Small Business COVID Hardship Fund.

COVID-19 Disaster Payments

Eligible workers across the state who lose hours of work due to the lockdown will be able to access the Commonwealth’s COVID-19 Disaster Payment, as will individuals who are sole-trader business owners who lose work and that do not qualify for Victorian Government support programs.

The payment is set at $450 for people who have lost from eight to 20 hours work or a full day of work (over seven days), and $750 for 20 hours or more of work lost.

People who receive certain Commonwealth income support are eligible to receive a $200 payment where they have lost eight hours or more of work due to the lockdowns.

Victorian micro-businesses and sole trader business owners who wish to apply for the Commonwealth COVID-19 Disaster Payment can access the Business Victoria Concierge Service by calling 13 22 15 and scheduling an appointment that will provide them with assistance to make an application.

Find out more on the Australia Government website.

Small Business Digital Adaptation Program

Also announced last week was the Small Business Digital Adaptation Program.

The Small Business Digital Adaptation Program provides $1200 rebates so small businesses can access a range of digital business tools.

The Victorian Government has partnered with 14 suppliers to help you build or upgrade your website, improve your cash flow, start online marketing, manage your jobs and projects, and keep better track of stock.

The product must be purchased from the supplier by 11.59pm on December 5, 2021, or before the program’s funds are exhausted.

Details about Victorian business support payments is available on the Business Victoria website.