Business Victoria - Business Support Fund
The Victorian Government has recently launched a $500 million Business Support Fund to help small businesses in Victoria to survive the impacts of the coronavirus (COVID-19) pandemic and to keep people in Victoria employed in work.
The Business Support Fund is part of the Victorian Government's $1.7 billion Economic Survival Package which is supporting businesses and workers through the devastating impacts of the coronavirus (COVID-19) pandemic. The Business Support Fund is aimed at supporting Victorian small businesses in the sectors hardest hit by the coronavirus (COVID-19) pandemic so they can survive and keep Victorian's in work.
Funding of $10,000 per business is available and will be allocated through a grant process.
Business Eligibility for the Business Support Fund
Businesses in Victoria can apply for a grant under the Business Support Fund, if they meet ALL of the following six criteria:
- Employ staff in Victoria
- Have been subject to closure or have been highly impacted by Non-Essential Activity Directions issued by the Victorian Deputy Chief Health Officer to-date. More information on affected sectors and Non-Essential Activity Directions can be found at https://www.dhhs.vic.gov.au/sites/default/files/documents/202003/Non-Essential-Activity-Directions-No-2.pdf.
- Have a turnover of more than $75,000
- Have payroll of less than $650,000
- Hold an Australian Business Number (ABN) and held that ANB at 16 March 2020 (date of Victorian State of Emergency declaration)
- Have been engaged in carrying out the operation of the business is the Australian State of Victoria on 16 March 2020.
Further information, or questions about the Business Support Fund or eligibility criteria may be answered in the FAQ's document provided by Business Victoria.
How can the Business Support Funding be used?
Examples of what the Business Support grant funding could be used for include:
- Meeting business costs, including utilities, salaries, rent
- Seeking financial, legal or other advice to support business continuity planning
- Developing the business through marketing and communications activities
- Other supporting activities related to the operation of the business
How to apply?
Applicants for the Business Support grant funding must submit an online application. Applicants are required to provide a copy of their most recent Business Activity Statement (BAS) as well as other supporting material.
You can click on this link to access the Business Support Fund Application form