The Victorian Government recently announced the Business Resilience Package, investing $3 billion to support Victorian businesses. This package will provide cash grants, tax relief and cashflow support to eligible Victorian Businesses. Below is a summary of the package;
A third round Business Support Fund is now available to eligible businesses. This Business Support Fund provides grants from $10,000, $15,000 to $20,000 depending on the business’ annual payroll, with payroll of up to $10 million. Only employing businesses in eligible sectors are eligible for this funding.
The Sole Trader Support Fund provides grants of up to $3,000 for eligible non-employing sole trader businesses in eligible sectors that operate from commercial premises or locations and participate in JobKeeper.
The Licensed Hospitality Venue Fund provides grant of up to $30,000 for licensed pubs, clubs, hotel, bars, restaurants and reception centres, based on their venue capacity and location. Liquor license fees will also be waived until 2021. Grant application will open for the Licensed Hospitality Venue Fund in the coming days.
Other grants also available under this package include “Business Chambers and Trader Groups” and “Alpine Businesses”.
For more details on the full Business Resilience Package visit the Business Victoria Website.