Source: Premier of Victoria.
A massive new support package will see $3 billion in cash grants, tax relief and cashflow support delivered to Victorian businesses as we work together to drive coronavirus cases down and progress along our roadmap to COVID Normal.
Premier Daniel Andrews today announced the multi-billion package to help businesses survive and keep Victorians in jobs – taking the Government’s total business support to over $6 billion.
Over $1.1 billion in cash grants will support small and medium sized businesses that are most affected by coronavirus restrictions including $822 million as part of the third round of the Business Support Fund. Around 75,000 eligible businesses with payrolls up to $10 million will receive grants of $10,000, $15,000 or $20,000 depending on their size. More than 108,000 businesses have already shared in $1.47 billion from the first two rounds of Business Support Fund grants.
Victoria’s hospitality businesses are the bedrock of our economy, but right now, many are going through a tough time. To support our bars, restaurants, pubs, clubs, hotels and reception centres, the Government will establish a $251 million dedicated Licenced Venue Fund, with grants of between $10,000 and $30,000 for licenced venues of all shapes and sizes. The Government is also providing further relief by waiving liquor license fees for 2021.
Trips to Victoria’s ski fields haven’t been possible for thousands of families this year, so the Government will give businesses in our alpine resorts the support they need with grants of up to $20,000 to help cover their resort fees, saving them a combined $4.3 million.
The Government will also partner with local business groups and chambers of commerce, with grants of up to $20,000 so they can help their members adapt and find their feet in a COVID Normal world.