Funding of $10,000 per business is available and will be allocated through a grant process. If you have been impacted by COVID-19 and were rejected, apply again with future details. It has been revealed today in the media that the Government has a targeted industry list which meant if your business industry type on the ABR list was not on this list, you were automatically rejected. This has now been removed and all applications will be considered for their merit. So follow up if you have been rejected and believe you are worthy of receiving this grant.
Eligibility
Small businesses are eligible if they:
Here's what's covered further below:
1. Eligibility requirements
2. How can the funding be used?
3. Evidence of eligibility and compliance
4. How to apply
5. Why has the Victorian Government launched this fund?
6. When do applications open and close?
7. What businesses are eligible to apply for grants under the Business Support Fund?
8. What sectors are eligible for grants?
9. Why are applications only open to businesses with an annual wage bill of less than $650,000 a year?
10. Why are applications only open to businesses with an annual turnover of more than $75,000?
11. What other Victorian Government support is available for businesses and workers impacted by the coronavirus (COVID-19) pandemic?
12. What Commonwealth Government support is available for businesses and workers impacted by the coronavirus (COVID-19) pandemic?
13. Can I access the Business Support Fund if I am a non-employing business?
14. How much can my business apply for under the Business Support Fund?
15. My business has been impacted by the coronavirus (COVID-19) pandemic, but it is not on the list of affected businesses. Can I still
apply?
16. If I am a successful applicant, are there restrictions on what I can spend the funds on?
17. What is meant by going concern?
1. Eligibility requirements
Businesses are eligible to apply for a grant through the Fund if they meet the following criteria:
If you have further questions about the Business Support Fund or eligibility criteria, please read the FAQs.
While owners of businesses that do not employ people (non-employing businesses) are not eligible for funding through this program, they can
seek support through the Commonwealth Government’s Job
Seeker Payment Program.
2. How can the funding be used?
Examples of what the grant funding could be used for include:
3. Evidence of eligibility and compliance
4. How to apply
Applicants must submit an application online via the 'Apply now' button on this page.
Applicants are required to provide a copy of their most recent Business Activity Statement (BAS). Other supporting materials can also be provided.
All questions in the application must be completed and any requested documentation attached to ensure timely assessment and grant payment.
If you require further assistance please call 13 22 15.
Business Support Fund FAQs
Below are FAQs relating to the Victorian Government's Business
Support Fund.
5. Why has the Victorian Government launched this fund?
6. When do applications open and close?
7. What businesses are eligible to apply for grants under the Business Support Fund?
Businesses can apply if they:
8. What sectors are eligible for grants?
The Business Support Fund is for small businesses that employ staff and are subject to closure or are highly impacted by the shutdown restrictions announced by the Victorian Government as a result of the coronavirus (COVID-19).
A current list of sectors impacted by the shutdown restrictions is available at https://www.dhhs.vic.gov.au/sites/default/files/documents/202003/Non-Essential-Activity-Directions-No-2.pdf
9. Why are applications only open to businesses with an annual wage bill of less than $650,000 a year?
The fund is targeted at small businesses that may not be eligible for 2019-20 refunds and waiving of payroll tax, which applies to businesses with wages bills of $650,000 or above.
Businesses with a wages bill between $650,000 and $3 million will have their payroll tax refunded and waived for the 2019-20 financial year under the Victorian Government’s $1.7 billion economic survival package.
10. Why are applications only open to businesses with an annual turnover of more than $75,000?
Businesses with a turnover below this level are likely to be sole traders that do not employ people. $75,000 is also the threshold for when the Australian Taxation Office requires a business to register for GST External link (opens in same window).
If your business is not eligible for this funding you may still be eligible for other support in the Victorian Government’s Economic Survival Package or those provided by the Commonwealth Government or your local council.
11. What other Victorian Government support is available for businesses and workers impacted by the coronavirus (COVID-19) pandemic?
In addition to the Business Support Fund, the package also provides:
Download the Economic Survival Program fact sheet for information on how to access the above initiatives.
12. What Commonwealth Government support is available for businesses and workers impacted by the coronavirus (COVID-19) pandemic?
The Victorian Government’s Economic Survival Package complements the Commonwealth Government’s economic response to the COVID-19 pandemic, which includes:
Information about the Commonwealth Government’s economic response is available at https://treasury.gov.au/coronavirus
13. Can I access the Business Support Fund if I am a non-employing business?
The Business Support Fund is open to businesses that have employed staff during 2019-20. If your business has had to let staff go as a result of closure or being highly impacted by shutdown restrictions announced by the Victorian Government to-date, you still may be eligible to apply for this grant.
If your business is a non-employing business during 2019-2020 you can seek support through the Commonwealth Government’s JobSeeker Payment Program
14. How much can my business apply for under the Business Support Fund?
Businesses can apply for a one-off grant of $10,000.
15. My business has been impacted by the coronavirus (COVID-19) pandemic, but it is not on the list of affected businesses. Can I still apply?
You can still apply if you meet all the other eligibility criteria and consider that the shutdown restrictions have highly impacted on your business. Your application will be assessed against the guidelines.
16. If I am a successful applicant, are there restrictions on what I can spend the funds on?
It is expected that funds can be spent on business activities and costs, including:
17. What is meant by going concern?
Going concern means a business where an owner is still in control of the business, not in liquidation, administration or receivership and where the owner has the intent of reopening the business once shutdown restrictions are lifted.
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