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Support packages for Victorian businesses

With Victoria’s seven-day lockdown inevitably impacting the state’s economy, the Victorian Government has announced support packages for the businesses most affected. The ‘circuit-breaker’ lockdown has forced many businesses to shut their doors and the packages aim to minimise the damage to Victoria’s workforce.

Up to 90,000 Victorian businesses affected by the restrictions that remain until Thursday 3 June, will receive assistance. The Circuit Breaker Business Support Package is worth $250.7 million and is broken into three different types of payments. 

“This support will help businesses pay the bills and maintain their workforce as best they can, as we work together to get through this challenge,” said James Merlino, Victoria’s Acting Premier.

Business Costs Assistance Program

$190.01 million of the total will go towards the Business Costs Assistance Program. This will be the second round of this payment. Eligible businesses will be able to receive a grant of $2,500. These include restaurants and cafes, event suppliers, accommodation providers, and non-essential retailers. For information on the application process, visit business.vic.gov.au.

Licensed Hospitality Venue Fund

$40.7 million will go towards the Licensed Hospitality Venue Fund. A grant of $3,500 will be available for businesses with an eligible liquor license and food certificate. Applications will be open for three weeks from Wednesday 2 June. To receive further information on this payment, signup for the Business Victoria Update newsletter.

Events industry support

$20 million will go to businesses affected by the restrictions in the events industry. More details on this payment will be released here.

“Small businesses are crucial to our economy and beyond dollars and cents, important contributors to local communities – we’re proud to stand with them and their workers,” said Jaala Pulford, Victoria’s Minister for Small Business.

“We’re doing our part to support Victorian businesses and their workers- just as we have done right throughout the pandemic,” said Tim Pallas, Victoria’s Treasurer.

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Georgia Hillier

Georgia Hillier

Georgia is a journalist at Dynamic Business specialising in sales and marketing. She is currently undertaking a double degree in Psychology and Law at university.

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