Welcome to day one of reduced restrictions across Victoria. Today, the state government announced a series of grants as part of a $400 million support package jointly funded by the Commonwealth government.
There are five funds, here’s a breakdown:
Business Continuity Fund:
- Grants of $5,000 to around 30,000 businesses who are still affected by capacity limits.
- Twenty-four eligible sectors are covered by the fund including cafes, restaurants and catering services.
- All recipients must have received or been eligible for the previous Business Cost Assistance Program.
- Total funding of $156 million.
Licensed Hospitality Venue Fund 2021:
- Grants of up to $20,000 to be made available to support licensed venues, as their operations continue to be impacted by current restrictions.
- To receive this funding, venues will need to have received or been eligible for the Licensed Hospitality Venue Fund 2021.
- Funding boost of $70 million.
Commercial Tenancy Relief Scheme and Landlord Hardship Fund:
- A total of $80 million will be provided by the state government to support landlords that offer rent relief to their tenants.
- The Commercial Tenancies Relief Scheme will be reinstated to provide rent relief to commercial tenants as well. There will be more details to come, read the state government media release here.
Small Business COVID Hardship Fund:
- A fund will be established to support small businesses who have not been eligible under existing business support funds.
- Small businesses with a payroll of up to $10 million who have experienced a 70% or greater reduction in revenue will be eligible for grants of up to $5,000.
- Total funding of $85 million.
There is also a fifth fund to further support alpine businesses.
These programs will be administered by the Victorian Government.
