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Small Business Assistance for Victoria $1.7 Billion during Covid-19.

15 Jun
Covid 19 government small business help

Small Business Assistance for Victoria $1.7 Billion during Covid-19.

Victorian government responds with 1.7 billion dollar program.

“Victoria $500 Million Business Support Fund” The program offering one off grants up to to $10,000 for Victorian businesses is now closed, but don’t despair, there are still others you have time to apply for. The Vic Business Support Fund was aimed at industries including: Tourism, hospitality, accommodation, retail, arts & entertainment or those hit hardest during Covid-19. The grants were being offered to help you pay rent, salaries and utilities.

Other Victorian Government grants open that small business can still apply for include:

$500 MILLION WORKING for VICTORIA INITIATIVE

Aimed at helping displaced workers apply for different kinds of work. The program presents opportunities for paid work and a chance to contribute within the community.

Including $50 Million to provide dedicated support for the agriculture, food processing and critical food supply chain businesses.

The government has partnered with Side-Kicker in support of:

  • helping job-seekers to find work
  • helping job-seekers access online training
  • helping employers find the workers they need fast, with the skills and experience they need.

Other programs currently open for application include:

  • Payroll Tax Refund
  • Rent relief for commercial tenants in government buildings
  • Commercial tenancies relief scheme (The Victorian Governments immediate commercial tenancy relief scheme designed to take some of the financial hardship faced by tenants and landlords as a result of corona-virus)
  • Payroll tax exemption for additional payments made under the Job-Keeper program
  • 2020 Renewable liquor licence fees waived
  • Night-time Economy Business Support Initiative: support for clubs, restaurants & pubs ($40 million available for rent relief)
  • Boosting cash flow for employers (Up to $100,000 temporary cash flow support will be available for eligible SMEs and non profit businesses employing people that have been affected by the economic downturn associated with coronavirus.
  • Backing Business Investment (This is a 15-month investment incentive that will (support eligible assets beginning March 2020 to 30th June 2021) by supporting business investment and economic growth over the short term by accelerating depreciation.
  • Supporting apprentices and trainees (Eligible employers of an apprentice or trainee could be eligible for a wage subsidy of 50% of the apprentice’s or trainee’s wage for nine months from 1st January 2020 until 30th September 2020)

There are so many grants and incentives directed at Victoria’s small to medium sized businesses (SME’s) at the moment, not just those brought in for Covid-19 but a lot of others too. For a comprehensive list of all funding options currently available to your business needs, call our office and speak to a grants professional today.

Government business funding has strict closing deadlines!

Call our office today to see how much money your business may be eligible to receive in funding.

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