Victorian Business Support Fund
The Victorian Government has launched the $500 million Business Support Fund to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work.
These are the details directly from the Business Victoria website...
Businesses are eligible to apply for a grant through the Fund if they meet the following criteria: .
- Have been subject to closure or highly impacted by Non-Essential Activity Directions issued by the Deputy Chief Health Officer to-date; and
- Employ people; and
- Have a turnover of more than $75,000; and
- Have payroll of less than $650,000; and
- Hold an Australian Business Number (ABN) and held that ABN at 16 March 2020 (when the State of Emergency was declared); and
- Have been engaged in carrying out the operation of the business in the Australian State of Victoria on 16 March 2020.
- In May 2020, the program will was expanded to include businesses who are participating in the JobKeeper program (except non-employing sole traders) regardless of the sector they operate in. This means if you originally applied and were rejected, you may now be eligible under the new "Stream Two" guidelines. .
A more detailed list of guidelines from Business Victoria is available here.
How can the funding be used?
Funding of $10,000 per business is available and will be allocated through a grant process.
Examples of what the 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.
Evidence of eligibility and compliance
- Applicants must certify in writing that they meet the eligibility criteria.
- Applicants will be subject to audit by the Victorian Government or its representatives and will be required to produce evidence, such as payroll reports to demonstrate impact, at the request of the Victorian Government for a period of four years after the grant has been approved.
- If any information in the application is found to be false or misleading, or grants are not applied for the purposes stated in the terms of funding and application, the grant will be repayable on demand.
How To Apply
Applicants must submit an application online via the Business Victoria website.
You are required to provide a copy of their most recent Business Activity Statement (BAS). Other supporting materials can also be provided.
Note: Lodged Business Activity Statements are available on the ATO’s Business Portal or through your tax agent.
here to view FAQs
regarding the Victorian Business Support Fund.
For a full list of Government Packages and other COVID-19 assistance, please click