Victorian Government Announces $3 Billion Business Resilience Package For Businesses Impacted By COVID-19 Restrictions
The Victorian Government has recently announced a $3 billion Business Resilience Package to help businesses impacted by ongoing coronavirus (COVID-19) restrictions.
It includes $822 million for a third round of the Business Support Fund which will help around 75,000 small and medium sized businesses that must remain closed or operate under restrictions in line with the Victorian Government’s ‘How we work’ roadmaps.
Eligible businesses will receive grants of either $10,000, $15,000 or $20,000 depending on the business’ annual payroll.
To be eligible, businesses must already employ staff and have a payroll of up to $10 million. Full details on eligibility and how to apply are set out on the Business Support Fund webpage .
Applications will remain open until funds are exhausted or 11.59pm on 23 November 2020, whichever is earlier.
Small and medium businesses make an enormous contribution to the Victorian economy and the Business Resilience Package includes a range of cashflow support, payroll tax deferrals and fee waivers to help businesses through this challenging time.
The impacts of the coronavirus (COVID-19) pandemic on businesses has been unprecedented and the Victorian Government is committed to helping every Victorian through to the other side.