Business Cost Assistance Program
What is it?
As part of the Circuit Breaker Action Business Support Package ($143 million), the Victorian Government has instituted a $92 million Business Costs Assistance Program to aid small businesses in sectors highly impacted from the circuit breaker action. Highly impacted sectors may include hospitality, tourism, events and selected retail.
What’s on offer?
Grants of $2,000 are available to small businesses (including sole traders) regardless as to whether they employ people. It aims to assist businesses who have incurred direct costs as a result of the Victorian government’s circuit breaker action. Examples of direct costs include those associated with the loss of perishable goods, flowers and booking cancellations, and cancellation fees and charges.
Who is eligible?
Businesses must meet the following criteria:
Be located in Victoria;
Have an ABN and be registered for GST;
Be registered as operating in an eligible industry (as outlined in the eligible ANZSIC classes);
Have incurred costs as a direct result of the circuit breaker action; and
Have an annual Victorian payroll of up to $3 million in 2019/20.
💬 SIDE NOTE: Businesses that have received a grant under the Licensed Hospitality Venue Fund (LHVF) are not eligible for this grant.
Timing:
The grants are available until the funds are fully exhausted or at 11:59pm on 16 March 2021.