VICTORIAN businesses will be eligible for financial assistance packages funded by the state and federal government to provide an economic stimulus after the latest lockdowns.
The Victorian Chamber of Commerce and Industry and the Australian Hotels Association (AHA) helped design the package, which may assist some of the businesses that have missed out on previous grants, and provides allocations to some of the hardest hit sectors of tourism and large-scale hospitality.
The package costs $400 million in total and includes:
$85m Small Business COVID-19 Hardship Fund, for those who didn’t receive grants under the last two packages and are able to demonstrate a reduction in turnover of 70 per cent or more;
$80m Commercial Tenancy Relief Scheme;
$156m Business Continuity Fund (for businesses who received grants under the last two business support packages).
$70m Licensed Hospitability Fund for larger venues impacted by density limits;
And an Alpine business support package of $9.8m.
The Victorian Chamber has also earmarked ‘top ups’ for Melbourne businesses worth thousands of dollars in some of these packages.
In addition the Chamber said they will continue to advocate for an events support package after numerous cancellations across the state.
