Business Support Fund Expansion Program Upgraded

Grants are now $10K for businesses in metro Melbourne & Mitchell Shire, and $5K in regional VIC

Following the commencement of COVID-19 Stage 4 restrictions earlier this month, on the 3rd August, the State Government announced an update to the Business Support Fund (BSF) Expansion program, as many businesses will have to operate in a limited capacity or can no longer operate.

This updated program will see the $5,000 grant bump up to $10,000 for eligible businesses in metro Melbourne and Mitchell Shire and $5,000 for eligible businesses in regional Victoria.

What if you have already received or applied for the BSF Expansion grant?
Businesses which have already received a BSF Expansion grant, or have applied for one, will not need to re-apply. Successful applicants will automatically receive this additional allocation.

Are you eligible?
Applicants must meet the following criteria to be eligible:

• Your business employs people and is registered with WorkSafe as at 30 June 2020;
• Your business has an annual payroll of less than $3 million in 2019-20 on an ungrouped basis;
• Your business is registered for GST as at 30 June 2020;
• Your business holds an ABN and has held that ABN at 30 June 2020;
• You have checked and confirmed that your business is registered with ASIC or the Australian Charities and Not-for-profit Commission or Consumer Affairs Victoria, or you are a sole trader operating under your personal name; and
• Your business is a participant in the JobKeeper Payment scheme.

Notes

• Application closes on 14 September 2020.
• Updated guidelines and information will be provided in the coming days.
• This program is in addition to the first round of the Business Support Fund, which closed on 1 June 2020.

To apply, click here: https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-package/business-support-fund