The government of Victoria recognises the crucial importance of small businesses in boosting the economy of the state. These businesses also generate lots of employment for the locals besides making available products and services. There are many grants specifically aimed at small businesses operating in the city of Melbourne.
Business Support Fund-Expansion
Third round of business support fund program is currently open. Under this program, the government of Victoria is giving away grants of $10,000, $15,000, and $20,000 to eligible businesses based upon the annual payrolls. If you are doing business in the city of Melbourne and fulfill eligibility conditions of this Business Support Fund, you can receive a monetary assistance under this grant. This grant is to help businesses directly impacted by the closures and restrictions imposed by Covid-19 lockdown.
The third round of Business Support Fund will remain open till 23 November 2020 or till the time funds earmarked for this scheme get exhausted.
- Your business must be included in the list of businesses that are highly impacted by Covid-19 closures and restrictions
- It must have an ABN
- The annual payroll in 2019-20 must be less than $10 million
- Business must be registered under GST
- Business must be participating in JobKeeper Payment scheme
Licensed Hospitality Venue Fund
Licensed Hospitality Fund is a grants program initiated by the Victorian government to help businesses that have liquor licensees and have been badly impacted by shutdowns and restrictions imposed by Covid-19 pandemic. If you are running a bar, pub, café, hotel, or club in Melbourne or any other city of Victoria and are eligible to receive a grant under this $251 million program, you can receive monetary assistance of up to $30,000. This grant is open till 23 November 2020 or the time till funds become exhausted.
- Your business must be operating in Melbourne or regional Victoria and serving food and alcohol to guests on or before 13 September 2020
- Your business must have ABN
- It must be registered under GST
Please note that you will get a grant from either of the two programs if you have also applied for assistance under Business Support Fund.
Melbourne City Recovery Fund
The government of Victoria in partnership with the city of Melbourne has announced a program called Melbourne City Recovery Fund. This $100 million fund has been established to reshape recovery of the Central Business District of Melbourne badly impacted by shutdowns and restrictions imposed to slow down the spread of Covid-19. Under this program, $30 million will be used to give grants of up to $10,000 to small businesses that convert their premises into hospitality zones. Another $30 million will be spent on organizing safe events to attract visitors to CBD. The final $40 million in this fund will be used to improve the street scape of Melbourne.
To receive help and assistance in applying for any of these funds, please contact one of our advisors at the number mentioned below.