Updated Victorian Business Support Package 30 September 2021

The Victorian and Federal Government on 30 September announced another update to the Victorian Business Support Packages.

Whilst this extends some support packages into October and November, it also signals the end date of any Federal Government assistance offered to Victoria based on when it is expected that Victoria reaches the 70% and 80% double dose vaccination rates.

This additional package consists of the following:

Victorian Business Costs Assistance Program Round Five

Businesses in metropolitan Melbourne and regional Victoria impacted by restrictions from 1 to 28 October 2021, who were successful recipients of the Victorian Business Costs Assistance Program Round Two and / or the Business Costs Assistance Program Round Two July Extension will receive an additional funding under the Victorian Business Costs Assistance Program Round Five.  28 October being when Victoria is expected to achieve 70% double dose vaccination rates.

There will be 2 fortnightly payments tiered based upon annual payroll size:

• $2,000 per fortnight for non-employing businesses.
• $5,600 per fortnight for businesses with no payroll or an annual payroll below $650,000.
• $11,200 per fortnight for businesses with an annual payroll between $650,000 and less than $3 million.
• $16,800 per fortnight for businesses with an annual payroll between $3 and $10 million.

Businesses will remain eligible while they are unable to operate due to public health restrictions.

You do not need to apply for the first part of the Round 5 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.

Businesses that remain closed or severely restricted between 70 and 80% double dose vaccination rates will receive an automatic payment for the period from 29 October to 13 November.

To learn more about the Business Costs Assistance Program click here.

Licenced Hospitality Venue Fund

Automatic weekly payments from 4 September to 28 October (when Victoria is expected to reach 70% double dose vaccination rates) 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

Businesses will remain eligible while they are unable to operate due to public health restrictions.

Weekly payments for the period 29 October to 13 November (when Victoria is expected to reach 80% double dose vaccination rates) will be 25% lower than amounts above for licensed premises in metropolitan Melbourne and 50% lower licensed premises in regional Victoria.

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 Round 2

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 $20,000.  I may have missed this but i can not see where any applications for Round 2 were re-opened.  I can only assume the funding was given to round 1 applicants who missed out on funding when the original allocated pool of money was exhausted.

To learn more 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