Support for Business
Firstly, I wanted to simply touch base. I’ve heard from many of you in our area about your experiences and challenges throughout the restrictions we’ve had in place. And I understand how tough it has been. I’ve said it before, but it’s worthwhile touching on that it’s been incredibly heartbreaking to have to say to businesses to pause in many instances, having a significant impact on so many.
I wanted to pass on details of the latest State Gov Business Support Package:
Business Resilience Package
Recently the Victorian Government announced a $3 billion package as a suite of measures to assist businesses impacted by the restrictions and to help businesses adapt to the COVID-Normal that we are working towards. This is the largest ever support package delivered to businesses in Victoria – because it needs to be.
Includes: 3rd Round BSF, Sole Trader Support Fund, Licensed Hospitality Venue Fund, Outdoor Eating and Entertainment Package, Well-being and Mental Health Support, Business Adaption Grants among other assistance
Subscribe to Business Victoria’s newsletter to get updates on any of these – https://www.business.vic.gov.au/subscribe-to-newsletters
Applications now open – Business Recovery and Resilience Mentoring
Last week, the Victorian Government joined with the Victorian Chamber of Commerce and Industry (VCCI) in launching a new business mentoring initiative to help small business owners navigate the challenges posed by coronavirus.
Applications are open now on the VCCI website.
Through the $10 million program, eligible business owners can receive up to four 2-hour mentoring sessions with an experienced professional who will help them make informed decisions about the future of their business.
The program offers tailored guidance on:
- Business recovery – to strengthen business recovery (cost reduction, debt and cashflow management)
- Market transformation – to understand how coronavirus (COVID-19) has triggered or accelerated market changes
- Digital literacy and engagement – to help businesses reach new customers and markets
- Market and supply chain diversification – to reduce exposure to supply chain risks
- Reskilling and retraining – to help businesses upskill their existing workforce
Go to the Bus Vic Website for this and more on supports available.
Business Support Fund – expansion for Melbourne & Mitchell Shire businesses
SUPPORT FOR BUSINESS: Funding of $5,000 per eligible business is available from the Vic Gov to help small businesses survive the impacts of coronavirus and keep people in work.
Businesses within metropolitan Melbourne and Mitchell Shire that are affected by the return to Stay at Home restrictions may be eligible for a one-off, $5,000 grant under the Business Support Fund – Expansion program.
Businesses that have received funding from other components of the Victorian Government’s Economic Survival Package are eligible to apply for this program.
Applications for the program close on 19 August 2020.
This program is in addition to the first round of the Business Support Fund, which closed on 1 June 2020.
To check if you’re eligible and for more info go here: https://bit.ly/2VidCJu
More Survival Support For Victorian Businesses
The Victorian Government will provide more support to help businesses and workers through to the other side of the coronavirus pandemic.
The Government has announced a $534 million Business Support Package – the latest support measures on top of the $6 billion in economic relief already invested since the pandemic began.
The latest measures include cash grants for struggling businesses, mental health support for business owners, relief for tourism operators who can no longer welcome Melbourne-based visitors for holidays, and tailored and targeted advice for businesses to adapt, stay afloat and then bounce back on the other side.
The reinstatement of restrictions across metropolitan Melbourne and Mitchell Shire is necessary to slow the spread of the virus, but we know the impact on businesses and their staff is significant.
For more you can go the Business Victoria site – link below