Victorian businesses are hurting while they deal with the impact of the COVID-19 pandemic and containment measures. Luckily, some help is available, with the State Government announcing a range of assistance measures to support businesses and keep Victorians in work.
This week, Premier Dan Andrews announced a $500 million Business Support Fund to help small businesses survive the pandemic and keep people in work as part of the Victorian Government's $1.7 billion Economic Survival Package.
Funding of $10,000 per business is available through a grant process.
Is my business eligible to apply?
Businesses are eligible to apply for a grant through the Fund if they meet the following criteria:
- Employ staff
- Have been subject to closure or are profoundly impacted by Victoria's shutdown
- Have a turnover of more than $75,000
- Have payroll of less than $650,000
While businesses owners that do not employ people are not eligible for funding through this program, they can seek support through the Federal Government's JobKeeker Payment or the Federal Government's Job Seeker Payment .
How can I Apply?
Applicants must submit an application online via the 'Apply now' button on the Business Victoria website
How can I spend the grant?
Businesses can use the $10,000 grant in a wide variety of ways, including:
- Paying essential business costs, such as utilities, salaries, rent
- Financial, legal or consultant advice for business continuity planning
- Marketing and communications activities
- Other activities related to the operation of the company
You'll be pleased to know all MGR Accountants services are acceptable ways to spend your Business Support Fund grant. So, whether you want to pay for your regular jobs, start a strategic plan or get up-to-the-minute financial advice, we can help.
Call us today on (03) 5443 8888 or email email@example.com.