Business Support Fund – $10,000 Grant Application Information

As part of a $1.7 billion economic survival package, the Victorian Government recently announced $500 million to establish a Business Support Fund to assist small to medium businesses most impacted by the COVID-19 outbreak.

Eligible businesses can apply for a one-off $10,000 grant which can be used toward the costs to support the business continuity planning. 

Businesses are eligible to apply for a grant through the Business Support 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 (you can still apply if not directly impacted by Government mandated restrictions so long as you meet the other criteria);
• employ people;
• have a turnover of more than $75,000;
• have payroll of less than $650,000;
• hold an Australian Business Number (ABN) and held that ABN at 16 March 2020 and
• have been engaged in carrying out the operation of the business in the Australian State of Victoria on 16 March 2020.

The program closes in 63 days and is limited so you need to register promptly. 

Applications can be made here –  click here

Browser Link: https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-fund?mc_eid=ac4fc7d22c&mc_cid=75d17cee01

We will continue to bring you, via email, updated details of any Government Stimulus Measures for business owners, employees and retirees as they come to light.

If you have any queries, please email: admin@patrickrowan.com.au or contact your Accountant directly via email.