Victorian Government Business Support Fund now open
The Victorian Government has launched the $500 million Business Support Fund to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work.
The Fund is part of the Victorian Government’s $1.7 billion Economic Survival Package.
Eligibility criteria and application guidelines are outlined below. Please read them before completing an application.
Program Overview
The Victorian Government has launched the $500 million Business Support Fund to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work.
The Fund is part of the Victorian Government’s $1.7 billion Economic Survival Package.
Eligibility criteria and application guidelines are outlined below. Please read them before completing an application.
Applications can be made by clicking here.
At a glance
Potential value of grant
Funding of $10,000 per business is available and will be allocated through a grant process.
Eligibility
Small businesses are eligible if they:
- employ staff
- have been subject to closure or are highly impacted by Victoria’s shutdown restrictions announced to-date External link (opens in same window).
- have a turnover of more than $75,000
- have payroll of less than $650,000.
More details about eligibility and guidelines on how to apply below.
Eligibility requirements
Businesses are eligible to apply for a grant through the Fund if they meet the following criteria:
- Have been subject to closure or highly impacted by shutdown restrictions announced by the Victorian Government to-date ; and
- Employ people; and
- Have a turnover of more than $75,000; and
- Have payroll of less than $650,000; and
- Hold an Australian Business Number (ABN) and held that ABN at 16 March 2020 (when the State of Emergency was declared); and
- Have been engaged in carrying out the operation of the business in the Australian State of Victoria on 16 March 2020.
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.
How can the funding be used?
Examples of what the grant funding could be used for include:
- Meeting business costs, including utilities, salaries, rent
- Seeking financial, legal or other advice to support business continuity planning
- Developing the business through marketing and communications activities
- Other supporting activities related to the operation of the business.
Evidence of eligibility and compliance
- Applicants must certify in writing that they meet the eligibility criteria.
- Applicants will be subject to audit by the Victorian Government or its representatives and will be required to produce evidence, such as payroll reports to demonstrate impact, at the request of the Victorian Government for a period of four years after the grant has been approved.
- If any information in the application is found to be false or misleading, or grants are not applied for the purposes stated in the terms of funding and application, the grant will be repayable on demand.
How to apply
Applicants must submit an application online by clicking here.
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.
For assistance and further information, please contact Sinclair Wilson’s Accounting team.