$400 million in new business support announced…

The Victorian Government has announced a new $400 million package, jointly funded by the Commonwealth Government.

Five key elements make up the support package: 

·         More than 90,000 businesses will be automatically paid a Business Costs Assistance Program Round Three grant of $2,800. 

·         New payments of $5,000 to $20,000 will be made to more than 8,900 hospitality venues that received support through the Licensed Hospitality Venue Fund through the May/June and July lockdowns. Payments will be automatic and graded by venue capacity. 

·         Alpine businesses will receive between $5,000 and $20,000 under an extension of the Alpine Resort Winter Support Program.

·         An additional $54 million will be added to the Small Business COVID Hardship Fund announced last week.

·         Eligible businesses that do not qualify for Victorian Government support programs because they are not registered for GST will be eligible for the Commonwealth’s COVID-19 Disaster Payment. 

For further information on these programs and other funding streams, please visit the Business Victoria website.