Small Business Financial Hardship Fund

Small Business Hardship Fund

Small Business Covid Hardship Fund
Applications have opened from 12th August 2021 to 10th September 2021, or until funds are exhausted, for the new Small Business Covid Hardship Fund.

Grants of $10,000 are on offer for small and medium business that have been severely impacted by the recent lockdowns and that have not been eligible for other Victorian Government funding.

To be eligible a business must:

  • Be located in Victoria
  • As a direct consequence of Covid-19 restrictions since 27 May 2021, have experienced a reduction in turnover of at least 70% for a minimum of two consecutive weeks compared to a comparable benchmark period in 2019. Other comparison periods are possible for business that was not trading in 2019 or if other exceptional reasons apply.
  • Have annual Victorian payroll of less that $10m in 2019/20, although note that business with no employees at all can still apply
  • Be registered for GST on 28/7/2021
  • Hold an ABN on 28/7/2021
  • If the business has employees, you have a Workcover policy
  • If the business has employees, you have supported workers to access any paid leave entitlements, or if that person can work from home, to work from home during the Covid-19 restrictions, and supporting casual workers where possible

Further, the business must not have received any Victorian Government funding under the recent support packages:

• Business Costs Assistance Program Round Two
• Business Costs Assistance Program Round Two Extension
• Licensed Hospitality Venue Fund 2021
• Licensed Hospitality Venue Fund 2021 – July Extension
• Alpine Resorts Support Program
• Victorian Events Support Package, comprising of:

   – Sustainable Events Business Program
– Impacted Public Events Support Program
– Independent Cinema Support Program
– Live Performance Support Program (Presenters)
– Live Performance Support Program (Suppliers)

The 70% reduction in income must be attested to by a qualified accountant, who must also provide a letter with the application.

If you feel you may be eligible for this grant please contact us as soon as possible to start the process.

Please email: and we will be in touch, alternatively, contact your Accountant directly.