Tag Archives: sole traders

New support package for businesses announced

THE VICTORIAN Government has announced a $250.7 million business support package which includes finances for small to medium-sized businesses and sole traders.
The aptly named Circuit Breaker Business Support Package aims to help up to 90,000 businesses affected by the current lockdown.
The package is divided into three initiatives:

  • Business Costs Assistance Program
  • Licensed Hospitality Venue Fund
  • Support for events operators

Of the package, $190M will be funnelled into a second round of the Business Costs Assistance Program, offering grants of $2,500 for eligible businesses directly affected by the lockdown’s industry restrictions; this includes restaurants and cafes, event suppliers, accommodation providers, and non-essential retail.
A new round of the Licensed Hospitality Venue Fund will see $40.7M provided to businesses with a liquor license and food certificate distributed in grants of $3,500 per premises.
For operators in the events industry who have been impacted finically by the lockdown, they will have access to a share of a $20M support scheme.
At the announcement, Acting Premier James Merlino said this new package will help businesses stay open in the long term.

“The circuit-breaker action will keep Victorians safe and protect businesses and jobs – but we know it’s not easy shutting your doors and putting your plans on hold.
“This support will help businesses pay the bills and maintain their workforce as best they can, as we work together to get through this challenge,” he said.

Minister for Small Business, Jaala Pulford added “Small businesses are crucial to our economy and beyond dollar and cents, important contributors to local communities — we’re proud to stand with them and their workers.”

Businesses can visit https://business.vic.gov.au/grants-and-programs/circuit-breaker-business-support-package for further information and to register for some of the package — at this stage, most grants will be open for application from Wednesday, June 2.