Support for Victorian businesses

THOUSANDS of small and medium-sized businesses will receive funding over the next six weeks at which point Victoria is expected to reach vaccination milestones.

A jointly-funded package of grants from the Commonwealth and Victorian Governments will lend support.

The funding package of up to $2.27B announced today will support businesses most affected by restrictions as Victoria reaches the 70 per cent, then 80 per cent fully vaccinated thresholds on the state’s ‘Roadmap to Deliver the National Plan’.

The package announced today provides businesses with further certainty that support will continue in line with Victoria’s Roadmap. This will see more than 160,000 businesses receive support, ranging from retailers and gyms to hairdressers and hotels – mostly through automatic deposits into their bank accounts.

Of these, around 124,000 eligible businesses will receive automatic Business Costs Assistance Program grants ranging from $1000 to $8400 per week, rising according to payroll, until the end of October. Businesses that remain closed or severely restricted over the first two weeks of November will also receive automatic payments for that period.

More than 9000 eligible cafes, restaurants, hotels and bars across Victoria will receive automatic Licensed Hospitality Venue Fund payments of between $5000 and $20,000 per week until the end of October.