Victorian Business Support Fund of grants of 10K (if you are a small employer)
Dan Andrews has released the details of the victorian business support fund - keep on reading and see if you might be eligible for this 10k lifeline.
The Victorian Government has launched the $500 million Business Support Fund to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work.
Currently open for applications through the Victorian State Revenue Office - we will have online appointments available over the coming week to help you through the process. We will offer 1 hour appointments to help you complete the application, and then once your BAS is finalised you will be able to submit.
Please note we have alternate availability, so if you wish to book with Sarah or Vita specifically, select those events. If you are more time limited in your availability, select the
POTENTIAL VALUE OF GRANT
Funding of $10,000 per business is available and will be allocated through a grant process.
Eligibility requirements
Businesses are eligible to apply for a grant through the 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 External link (opens in same window); and
Employ people; and
Have a turnover of more than $75,000; and
Have payroll of less than $650,000; and
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.
If you have further questions about the Business Support Fund or eligibility criteria, please read the FAQs.
How can the funding be used?
Examples of what the grant funding could be used for include:
Meeting business costs, including utilities, salaries, rent
Seeking financial, legal or other advice to support business continuity planning
Developing the business through marketing and communications activities
Other supporting activities related to the operation of the business.
Evidence of eligibility and compliance
Applicants must certify in writing that they meet the eligibility criteria.
Applicants will be subject to audit by the Victorian Government or its representatives and will be required to produce evidence, such as payroll reports to demonstrate impact, at the request of the Victorian Government for a period of four years after the grant has been approved.
If any information in the application is found to be false or misleading, or grants are not applied for the purposes stated in the terms of funding and application, the grant will be repayable on demand.
How to Apply
Applicants must submit an application online via the 'Apply now' button on the SRO page (link here)
Applicants are required to provide a copy of their most recent Business Activity Statement (BAS). Other supporting materials can also be provided.
Note: we don’t know if this is going to be included as taxable income for your business as yet, but if you’re eligible we will help you apply