The VIC government has various grants and programs available to help small businesses impacted by shifting lockdowns, of which, there are three broad support measures:
- Business Costs Assistance Program (July extension)For business owners who haven’t yet applied or qualified for the Business Costs Assistance Program Round Two, the VIC government is offering those who have since become eligible an opportunity to apply for a $4,800 grant.Since Victoria went into its sixth lockdown (which began 5 August 2021), the Commonwealth and Victorian governments have announced a top-up to this program. Those who have received or are eligible to apply for BCAP (either in the first round or the July extension) could qualify for these additional automatic payments.Visit Business Victoria to learn more about the submission criteria, and apply before 13 August 2021.
- Business Continuity FundThis support measure was introduced at the end of July to help Victorian business owners that are impacted by capacity limits as a result of the most recent lockdown. Those who have received or are eligible for the Business Costs Assistance Program Round Two could qualify for a $5,000 grant, while an additional $2,000 could be granted to business owners located in Melbourne’s CBD.
- Small Business COVID Hardship FundThe VIC government has announced plans for a new fund that will help small businesses that have not yet qualified for any other existing support. At this stage, eligible businesses must have a payroll of up to $10 million or have experienced at least a 70 percent decline in turnover. Those who qualify could receive a $5,000 grant payment when applications open.Keep an eye on Service Victoria for the latest updates.
- Licensed Hospitality Venue FundThis fund is designed to help VIC licensed hospitality venues that didn’t receive or were ineligible for the Business Costs Assistance Program. For those that haven’t already qualified for this grant, you may be eligible to apply for the July extension.The Commonwealth and VIC support package (announced 5 August 2021) has given this fund a boost to help those impacted by the sixth lockdown. More details are expected to be announced in the coming days.Keep an eye on Business Victoria to stay up-to-date with the latest developments.