Business Support Fund - Third Round

Business Victoria has released a number of grants for businesses operating in Victoria, the following is a summary of the grants available.

Business Support Fund – Third Round

Employing businesses in a limited range of sectors may be eligible for an additional $10,000 - $20,000 grant (depending on size of payroll) for business that have been impacted by the latest shut downs.

If you would like our office to review your eligibility and apply on your behalf please contact our office.

The details of the eligibility criteria can be found - https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-resilience-package/business-support-fund-3

To be eligible for the funding, businesses must:

• Operate a business located in Victoria; and
• Be registered as operating in an industry sector that has an industry restriction level of Restricted, Heavily restricted or Closed and is not easing industry restriction levels between the First Step and Second Step of Victoria’s roadmap for reopening  (a business’s industry sector is defined by the industry classification (ANZSIC) linked to their ABN ); (Note: that some of the major trades being plumbers, carpenters, electricians and builders are all excluded from the grant). A full list of industries that can apply can be found at: https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-resilience-package/business-support-fund-3
• Be a participant in the Commonwealth Government’s JobKeeper Payment scheme; and
• Employ people and be registered with WorkSafe; and
• Have an annual payroll of less than $10 million in 2019-20; and
• Be registered for Goods and Services Tax (GST) on 13 September 2020; and
• Hold an Australian Business Number (ABN) and have held that ABN at 13 September 2020; and
• Be registered with the responsible Federal or State regulator (ie ASIC / ABN etc).

Grants for Sole Traders

 A Sole Trader Support Fund offers grants of $3000 to non-employing sole traders. Eligibility for this grant is tight, and only a small percentage of sole traders will be eligible.  Eligibility conditions include that the sole trader must operate from a premises that is not their residence, and be a tenant of that business premises or be the owner/occupier. They must also be receiving JobKeeper and operate in an industry that has been closed or heavily restricted. Applications are now open.

Grants for Hospitality and Tourism Businesses

A Hospitality Business Grant of $25,000 is available to Victorian food service businesses that are affected by the Stay at Home restrictions. Eligible businesses that operate more than one premises may be eligible for an additional grant of $5000 for each additional premises in Victoria up to $20,000. To be eligible, the business must hold a Class 2 or 3 Service Sector – Certificate of Registration and have an annual payroll of between $3 million to $10 million in 2019-20. Applications are now open.

A Melbourne CBD Small Hospitality Grant provides grants of $5000 (for businesses with a food service seating capacity of 11 to 100 seats) or $15,000 (for businesses with a food service seating capacity of 101 or more seats). It is only available to businesses in the Melbourne CBD, World Trade Centre, Southbank and Docklands. Applications are now open.

A Licensed Hospitality Business grant will be available to licensed venues in the following circumstances:

• if patron capacity is one to 20 - $10,000 for regional and $15,000 for metro
• if patron capacity is 21 to 100 - $15,000 for regional and $20,000 for metro
• if patron capacity is 101 or more - $25,000 for regional and $30,000 for metro

Applications are now open.

A Melbourne City Recovery Fund includes grants to assist SMEs to pay for equipment, convert spaces like rooftops and courtyards into hospitality zones, and remodel internal layouts to allow for the better flow of patrons. Applications open 28 September 2020.

An Outdoor Eating and Entertainment Package includes grants of up to $5000 for hospitality businesses with an annual payroll of less than $3 million to help them adapt to outdoor dining. The premises must be in Victoria but not the City of Melbourne. Details not yet available.

If you have any questions about applying for the grant please contact us on 03 9742 3844.