Revised Business Support Fund – Expansion Program announced by Victorian Government

On 3 August 2020, and as a result of the further lockdown restrictions, the Victorian Government announced revisions to the Business Support Fund – Expansion Program.

Whereas the Victorian Government had previously announced in July 2020 a $5,000 grant was available to eligible businesses located in Metropolitan Melbourne and Mitchell Shire as a result of Stage 3 lockdown, the revised Business Support Fund – Expansion Program announced on 3 August 2020 has increased the amount of the grant available under the program to $10,000 for eligible businesses located in Metropolitan Melbourne and Mitchell Shire, and has now introduced a grant of $5,000 for eligible businesses located outside of Metropolitan Melbourne and Mitchell Shire that will be moving to Stage 3 lockdown.

Eligible businesses located in Metropolitan Melbourne and Mitchell Shire that have already applied for the $5,000 grant under the Business Support Fund – Expansion Program will automatically get the increased amount and do not have to apply.  All other businesses will need to make an application for the grant.

Pursuant to the Business Victoria website, the conditions that a business needs to satisfy in order to apply for the Business Support Fund – Expansion Program are as follows:

  • The business must be located in Metropolitan Melbourne or regional Victoria
  • The business must be a participant in the JobKeeper Payment scheme
  • The business must have employees
  • The business must be registered with WorkSafe on 30 June 2020
  • The business must have an annual payroll of less than $3 million in 2019-20 on an ungrouped basis
  • The business must be registered for Goods and Services Tax (GST) as at 30 June 2020
  • The business must hold an Australian Business Number (ABN) and have held that ABN at 30 June 2020

Please do not hesitate to get in touch with us via your Banks Group representative, (03) 9810 0700 or info@banksgroup.com.au if you have any further questions.

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