If your business falls under any of the industries shown below, it may be eligible for the new Victorian Business Costs Assistance Program.
- Food Wholesaling
- Events & Related Services
- Selected Retail (Florists & Specialised Food Retailing e.g Chocolate Retailing)
The new $92 million Business Costs Assistance Program is part of the Victorian Government’s $143 million Circuit Breaker Action Business Support Package and will assist small businesses, including sole traders, in highly impacted sectors, such as hospitality, food wholesaling, tourism, events, and selected retail.
The program offers grants of $2000 to small businesses, including sole traders, regardless of whether they employ people or not. The grants will support businesses in eligible sectors who have incurred direct costs because of the circuit breaker action, such as the loss of perishable goods, flowers and booking cancellations, and cancellation fees and charges.
Businesses with an annual payroll of up to $3 million, whether they have employees or not, can receive grants of $2000.
The program is now open for applications and closes in 20 days (March 16 2021).
This document contains general advice only and is prepared without taking into account your particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should speak to a licensed financial advisor who should assess its relevance to your individual circumstances. While The Field Group believes the information is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the corporations Act 2001.