The Victorian Government has announced a $500 million package, the Business Support Fund (the Fund), to support small businesses that employ staff and have been highly impacted by COVID-19 restrictions.
The fund provides eligible businesses with one-off grants of $10,000.
While the Business Support Fund was only initially available to those that were forced to close due to the COVID-19 pandemic (stream 1), it has now been extended to all business sectors that meet the eligibility criteria and are enrolled to receive support through the Commonwealth Government's JobKeeper Payment Scheme (stream 2)
To be eligible for a grant, businesses must meet the following eligibility criteria:
- Employ people; and
- Have a turnover of more than $75,000; and
- Have a payroll of less than $650,000; and
- Hold an Australian Business Number (ABN) and have held that ABN at 16 March 2020 (date of the State of Emergency declaration); and
- Have been engaged in carrying out the operation of the business in the Australian State of Victoria on 16 March 2020; and
- Operate in an industry sector that has been subject to closure or highly impacted byshutdown restrictions announced by the Victorian Government; OR
Be enrolled as eligible participants in the Commonwealth Government’s JobKeeper Payment scheme
- The grant amount is $10,000 per business.
- A business as defined by its ABN can only receive one grant under the Fund, for either Stream 1 or Stream 2.
- Applications will be accepted until 1 June 2020.