BUSINESS SUPPORT UPDATE 04 SEPTEMBER 2021
A jointly funded package by the Commonwealth and Victorian governments was announced on Saturday 4 September, to provide extended financial assistance to many businesses in Victoria. In summary:
- It has been confirmed the state-wide Victorian lockdown will continue until 70% of Victorians have had at least one dose of the COVID-19 vaccine – estimated to be around 23 September.
- The extended business support payments will cover a four-week period ending on Thursday 30 September.
Small Business COVID Hardship Fund – applications open till 10 September / automatic payment for previous recipients
- The funding is for eligible small and medium businesses that have experienced a reduction in turnover of at least 70%.
- Extra funding means the grant amount has increased from $14,000 to $20,000.
- Businesses that have already received the one-off payment will receive an automatic top-up payment of $6,000.
Business Costs Assistance Program – automatic payment
Businesses in metropolitan Melbourne who previously received or are approved to receive the Business Costs Assistance Program Round Two or Business Costs Assistance Program Round Two July Extension grant, will automatically receive payments ranging from $2,800-$8,400 per week depending on their annual payroll.
Licensed Hospitality Venue Fund 2021 – automatic payment
Automatic payments will be made to cover a four-week period ending on Thursday 30 September to licensed hospitality venues that have previously received or been approved grants for this funding.
Payments range from $5,000-$20,000 based on tiers according to premises capacity.
Alpine Business Support Program – automatic payment
A support package to help sustain resorts through the remainder of the ski season and September school holidays with an automatic top-up payment of between $10,000 and $40,000, depending on business location and whether the business employs staff.
COVID-19 Disaster Payment – applications open
Eligible workers and individuals who run sole-trader businesses who lose work and do not qualify for Victorian government support programs may receive:
- $450 – people who have lost between eight and up to 20 hours of work or a full day of work (over seven days)
- $750 – people who have lost 20 hours or more of work.
Other support available if you’re unable to operate your business due to restrictions.
If you prefer to talk to someone, the COVID-19 business support provides a hotline or you can leave your contact details for a return call. A language translation service is also available.
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Our Small Business Financial Consultant Jim Chamouras is available via phone or email. If you have any questions about potential Government assistance available, or assistance with your business finances/tax you can contact him via email email@example.com or mobile 0400 173 521. This is a cost free service across our service area.