Updated Victorian Business Support Package 19 August 2021

The Victorian and Federal Government on 19 August announced a further update to the Victorian Business Support Package.

This additional package consists of the following:

Victorian Business Costs Assistance Program Round Three

Successful recipients of the Victorian Business Costs Assistance Program Round Two and the Business Costs Assistance Program Round Two July Extension will receive an additional $5,600 ($2,800 per week) under the Victorian Business Costs Assistance Program Round Three.

You do not need to apply for the Round 3 payment, but you must have successfully applied for Round Two or the Round 2 Extension and applications for these have now closed.  If you have not applied you miss out.

To learn more about the Business Costs Assistance Program Round Two July Extension click here.

The Business Continuity Fund

Interestingly there were no changes announced to the Business Continuity Fund which provides a $5,000 payment to businesses in 24 sectors that were affected by additional capacity limits when reopening in late July 2021 under COVID-19 restrictions.

Businesses in Melbourne’s CBD that receive a Business Continuity Fund payment will receive an additional $2,000 payment.

Recipients will be contacted from mid-August to confirm they will receive a payment. Business Continuity Fund payments will be processed automatically.

This payment is in addition to the $4,800 payment under the Business Costs Assistance Program July Top-Up payments and the $2,800 payment under the Business Costs Assistance Program Round Three payment noted above.

You do not need to apply for the Business Continuity Fund payment, but you must have successfully applied for Victorian Business Costs Assistance Program Round Two or the Round 2 Extension.  Applications for both of these are now closed.

To learn more about the Business Costs Assistance Program Round Two July Extension click here.

Licenced Hospitality Venue Fund

Automatic weekly payments to licenced hospitality venues of:

• $5,000 will be given to eligible venues with a capacity of 0-199,
• $10,000 for premises with capacity of 200-499, and,
• $20,000 for venues with a capacity of 500-plus

To receive this funding, venues will need to have received or been eligible for the Licensed Hospitality Venue Fund 2021 or the Licensed Hospitality Venue Fund 2021 July Extension.  Applications for these are both now closed.

To learn more about the Licensed Hospitality Venue Fund 2021 July Extension click here.

Small Business COVID Hardship Fund

Small businesses with a payroll of up to $10 million who that are not eligible for support under existing programs and have experienced a 70 per cent or greater reduction in revenue may be eligible for grants of up to $14,000.

To learn more about whether you are eligible for the Small Business Covid Hardship Fund click here.

If you want a confidential discussion on your business situation, or help with these grants contact me below

Contact Wayne Wanders for your FREE Business Survival Session

To ensure I help your business specifically, the best approach I have found is to have an obligation free session with you.  In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face.  And this session does not need to be face to face.

At the end of this session, you will have multiple ideas on how your business can survive and thrive in these uncertain times.

Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

To get help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

Let Wayne Wanders, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au