Economic support for businesses
The Victorian Government has announced a $534 million Business Support Package which include cash grants for struggling businesses, mental health support for business owners, and tailored and targeted advice for businesses to adapt, stay afloat and then bounce back into recovery.
Some key initiatives include:
- Grants of $5000 available to eligible businesses to support them through the renewed restrictions;
- Additional grants available to businesses located in the CBD;
- Additional grants also available to hospitality businesses;
- A $10 million business mentoring program, pairing small business owners with experienced professionals who can help them navigate their way through the crisis;
- A $26 million investment in mental health support to ensure Victorians dealing with the compounding challenges of running a small business can get the support they need as they navigate their way through the crisis;
- An extended and expanded payroll tax deferral.
For more information and for registrations of interest, please keep an eye on the Business Victoria website.