Financial support for regional businesses

A $146.6 million program from the state and Federal government will provide financial support for businesses impacted by the latest lockdown.

Grants will be paid automatically, without businesses having to apply.

The money will be allocated via the Business Costs Assistance Program, and the Licensed Hospitality Venue Fund grants.

Around 18,000 businesses in regional Victoria will automatically receive payments of $5600 ($2800 per week) if they have previously received grants under the Business Costs Assistance Round Two or July Extension programs.

Automatic payments of $5000, $10,000 and $20,000 per week will be made to licensed hospitality premises in regional Victoria that have previously received grants under the Licensed Hospitality Venue Fund 2021 or July Extension programs.

Payment amounts will be tiered according to premises capacity: $5000 for a capacity of up to 99 patrons, $10,000 for a capacity of 100 to 499 patrons, and $20,000 for a capacity of 500 patrons or more.

Businesses in regional Victoria that don’t qualify for this new support and have experienced a reduction in revenue of at least 70 per cent can apply for the $252 million Small Business COVID Hardship Fund, which provides grants of $14,000 to successful applicants.

Eligible workers and sole traders could receive the Commonwealth COVID-19 Disaster Payment, which is administered through Services Australia.

People have who lost from eight to 20 hours work or a full day of work (over seven days) will receive $450.

Those who have lost 20 hours or more will received $750, while people who receive certain Commonwealth income support are eligible to receive a $200 payment where they have lost eight hours or more of work due to the lockdowns.

Victorian micro-businesses and sole trader business owners who wish to apply for the Commonwealth COVID-19 Disaster Payment can access the Business Victoria Concierge Service on 13 22 15 and schedule an appointment to help them make an application.

More information about the business support programs is available at business.vic.gov.au.