What lockdown support is available to Victorian business?

What Lockdown Support Is Available To Victorian Business

Support for my business

A new series of grants have been announced to support Victorian business. Here’s what we know so far:

$5,000 Business Continuity Fund

$5,000 grants will be available to businesses that continue to be impacted by capacity limits imposed by public health restrictions. Eligible businesses in the Melbourne CBD will receive an additional $2,000

Twenty-four sectors are covered by the grant including gyms, cafes, restaurants, catering services and hairdressers.

To be eligible, your business must have received or been eligible for the Business Costs Assistance Program.

Licensed Hospitality Venue Fund 2021

Grants of up to $20,000 will be available through the Licensed Hospitality Venue Fund. Eligible businesses in the Melbourne CBD will also receive an additional $2,000.

To receive this funding, your business will need to have received or been eligible for the Licensed Hospitality Venue Fund 2021.

Small Business COVID Hardship Fund

A new fund will be established for small businesses with a payroll of up to $10 million that are not eligible under the existing fund and grant programs.

To receive the grant of up to $5,000, your business will need to demonstrate a decline in turnover of 70% or more.

Alpine Business Support Program

Additional grants of between $5,000 and $20,000 will be made available to Alpine based businesses through the Alpine Support Program.

The Alpine Support program covers six alpine resorts, Dinner Plain, and key businesses located off mountain in the surrounding towns impacted by restrictions and offer a COVID Safe visitor experience for snowboarders and skiers.

Applications for the Alpine Support Program are not yet open.

Top-up support

The Victorian Government provided two ‘top up’ cash grants for businesses impacted by the lockdown declared on 15 July 2021.

The cash grants are paid automatically to businesses that successfully received a grant from the Business Costs Assistance Program Round Two or the Licensed Hospitality Venue Fund 2021 (including regional businesses). The 16 July 2021 and 21 July 2021 top-up payment amounts are summarised below:

 

Top-up amounts

Licensed Hospitality Venue Fund

$3,000 and

$4,200

Business Costs Assistance Program

$2,000 and

$2,800

You will not need to take any further action. The grant is paid automatically from mid-July.

I did not apply for the original grants but would like to apply for the top-up?

The top up payments are not available if your business did not receive the original grants.

However, the Business Costs Assistance Program Round Two will re-open for applications by the end of July.  If eligible, your business will receive the grant and the top up payments.

Support for commercial tenants and landlords

From 28 July, commercial landlords must provide rental relief to eligible tenants that matches the tenants’ COVID-19 impacted decline in turnover under the reintroduced Commercial Tenancy Relief Scheme.

To be eligible for relief, commercial tenants must have an annual turnover of less than $50 million and have suffered a decline in turnover of at least 30% as a result of COVID-19.

To support landlords, the Victorian Government will create a Landlord Hardship Fund.

Where an agreement cannot be reached between the tenants and landlord, the parties are encouraged to enter negotiations directly, with the Victorian Small Business Commission (VSBC) available to provide mediation if required. See Commercial tenancy relief for Victorians in small business, for further details.

How to contact us

We’re available to assist you with the lockdown support for your business. Please call us on (03) 9602 3366 to make that in-person appointment or email us @ jeffthom@jeffreythomas.com.au

The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information.  If expert assistance is required, professional advice should be obtained.

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