Business Grants in Victoria
Victorian businesses have had to cope with many difficult challenges over the past few years, ranging from the impact of COVID-19 and natural disasters. Thankfully assistance is available in the form of business grants to help Victorian businesses survive and thrive beyond these challenges.
There are a number of business grants available in Victoria, many of which have different application deadlines, requirements and eligibility criteria. It can be almost impossible to keep on top of all of the different schemes available, when you are busy running your own business. That’s where we come in, as we keep up to date with the latest developments. To make things easier, we have listed the key information for you below. If you want to find out any more information on business grants Victoria, call us today to see how we can help your business.
Jobs Victoria Fund
The Jobs Victoria Fund seeks to connect 1,500 Victorians who are looking for work with businesses in warehousing and logistics, hospitality, tourism and food processing. Eligible businesses who are ready to hire new staff or increase the hours of existing employees, can secure subsidies of up to $20,000 towards the costs associated with employing someone for 12 months.
Regional Jobs Fund
Businesses who are looking to develop or expand operations in regional Victoria can seek financial assistance through the Regional Jobs Fund. The fund is allocated $156 million and is considered to be one of the State Government of Victoria’s key packages to drive recovery. It seeks to support projects which will create new employment opportunities across industry sectors where the region has a competitive advantage. This includes:
- food and fibre
- professional services
- advanced manufacturing
- modern energy technology
- healthcare, medical technology and life sciences
- construction, defence and transport technology.
Funding assistance is provided in the form of loans, equity, grants and contributions.
Small Business Digital Adaptation Program
Under the small business digital adaptation program, small businesses can secure a $1,200 rebate to help them secure access to a range of digital tools to support their business.
The program has 4 simple steps.
- Take part in free workshops and free trials of digital products
- Purchase or subscribe to one or more of these digital products
- Apply through the small business digital adaptation program for a rebate to cover up to 12 months access
- If eligible, you will receive up to $1,200 rebate.
All of the training workshops are provided free, as are the product trials. So you can trail a number of digital products to see which work best for you and your business. However, in order to avoid unwanted fees, you will need to check with the suppliers about their terms and conditions – including trial length and any cancellation fees.
In order to be eligible, your business needs to be located in Victoria, and have been operating in Victoria since at least 28 March 2021. Businesses will also require an Austrian Business Number (ABN), which they would have held continuously since at least 28 March 2021.
This program closes for new applications on 18 July 2022. If you are struggling to meet this deadline, or need a gentle reminder, call us today to see how we can help.
Small Business Ventilation Program
The small business ventilation program helps eligible businesses that are public-facing, to improve ventilation in areas accessible to customers.
Improving the ventilation systems can stop the spread of COVID-19, meaning that there are not only public health benefits, but it can provide customers with improved confidence that they are safe.
The program has two support packages.
- Ventilation Rebate – A $500 rebate for small businesses that are public-facing for immediate actions including purchasing equipment or hiring a suitably qualified tradesperson to complete minor improvements.
- Ventilation Grant – The ventilation grants are matched grants of between $1,000 – $5,000 which enable small businesses that are public facing to invest in larger scale projects such as building works.
The same business can apply for a ventilation rebate and ventilation grant, as long as they are eligible.
Finding a job later in life can be a challenge. To encourage businesses to hire and retain these employees, the Australian government are offering wage subsidies of up to $10,000 to eligible businesses who hire and retain employees who are 50 years of age or older. Wage subsidies are offered at the discretion of the provider, however the following matters are of key consideration:
- The business has an Australian Business Number (ABN)
- The person has not been previously employed by the business
- The person meets the eligibility criteria
- The position offered to the employee is expected to be ongoing and on average consist of 20 hours or more per week for the 6 months period the wage subsidy will cover
- The position complies with the relevant employment standards, ie; is at least the national award wage and is suitable work.
Digital games companies and key creatives in Victoria can apply for up to $30,000 under the Games Release Program. This program ensures that the relevant businesses have the right tools to successfully launch their new games. The $30,000 can be used for marketing assistance, legal fees, licensing costs, business development costs as well as engaging with experienced consultants in this field. Applications can be received at any time. However, in order to avoid any disappointment should the scheme close or be capped at a later date, if you are eligible it is always best to apply as soon as you are ready.
Ready for Growth – Victoria
Through the Ready for Growth program, the Victorian Government will support 1,000 high growth businesses who are located in Victoria. The program will help eligible businesses develop a Growth Action Plan – to set out specific goals and objectives for business growth. These action plans can also be useful when seeking to secure external investment. In addition to this, regular meetings are scheduled with a specially selected Growth Facilitator to help your business achieve its growth goals. They can also help identify grants and programs which support growth, improve networks and connect to peers.
Applications are free, however there will be some time spent meeting with the Growth Facilitator and drafting your Growth Action Plan. In total, it is estimated that you will need to commit between 7 and 14 hours, during the duration of the whole programme. Interested businesses will need to submit a Submission of Expressions of Interest’ by either 1 June 2024, or when the scheme is fully subscribed. If you meet the eligibility criteria, a well structured and convincing expression of interest could make the difference between your company being selected or not – we have the knowledge and experience to help you submit the correct information giving you the best possible chance of success.
Liquor Licence Fee Waiver
Hospitality businesses were hit particularly hard by COVID-19 restrictions. As a result, businesses in Victoria that paid for their 2020 renewable liquor licence will be reimbursed. Those who haven’t paid their 2020 fee will have their fee waived. Similarly, it was announced in September 2020, that eligible businesses would not need to pay for their 2021 renewal fees.
As you can see above, there is a great deal of business support to Victorian businesses. However, keeping on top of the different eligibility requirements and application deadlines can be a never-ending task. We make sure that we regularly review the schemes available and their requirements, so find out today how we can help your business secure the assistance it requires.