Victorian Circuit Breaker Business Support Package - May 2021

Yesterday the Victorian Government announced a new support package to assist small to medium businesses and sole traders, under the circuit breaker restrictions (enacted between 28 May - 3 June 2021) which are unable to operate due to these necessary public health measures, including targeted support for the events industry.

There are three initiatives available for eligible businesses as part of this new support package.

1) Business Costs Assistance Program

This second round of the Business Costs Assistance Program has been allocated $190.01 million, and it provides $2,500 grants for eligible employing and non-employing businesses in sectors most impacted. This includes businesses operating in an industry that cannot operate under the circuit breaker restrictions and which cannot work remotely.

This program should help eligible businesses with costs incurred as a result of the circuit breaker action. For example, businesses may have incurred costs through loss of perishable food or produce and cancelled bookings.

More information in relation to the eligibility requirements will be available on the Victorian Business website shortly ( click here ).

This program will open for applications on Wednesday 2 June 2021 and will remain open for applications for three weeks.

To be alerted when the Business Costs Assistance Program is open for applications, please register for the Business Victoria Update newsletter ( click here ).

2) Licensed Hospitality Venue Fund 2021

The $40.7 million Licensed Hospitality Venue Fund 2021 program provides businesses holding an eligible liquor licence and food certificate with a $3,500 grant per premises.

The program will open for applications on Wednesday 2 June 2021 and will remain open for applications for three weeks.

More information in relation to the eligibility requirements will be available on the Victorian Business website shortly ( click here ).

To be alerted when the Licensed Hospitality Venue Fund 2021 is open for applications, please register for the Business Victoria Update newsletter ( click here ).

3) Victorian Events Support Package

The $20 million package dedicated to supporting operators in the events industry who have incurred losses due to the circuit-breaker restrictions.

More information in relation to the eligibility requirements will be available on the Victorian Business website shortly ( click here ).

To be alerted when the Victorian Events Support Package is open for applications, please register for the Business Victoria Update newsletter ( click here ).

Please do not hesitate to contact your Lowe Lippmann Relationship Partner if you wish to discuss any of these matters further.

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