Third round Business Support Fund guidelines introduced

On 14 September 2020, we sent out a release in relation to the Victorian Government’s $3B business support package pledge. Included in the pledge was the introduction of a third round of Business Support Fund grants for eligible businesses.

Applications for the third round of Business Support Fund grants are now open via the Business Victoria website and will remain open until 11.59pm on 23 November 2020 or until funds are exhausted, whichever is earlier.

The guidelines that accompany the third round Business Support Fund application make it clear however that only certain types of business industries are eligible to apply for the grant.

Businesses located in Metropolitan Melbourne

If the business is located in Metropolitan Melbourne, in order to be eligible to apply for the grant, the business needs to operate in an industry that is designated as “Restricted”, “Heavily Restricted” or “Closed” and in which operating restrictions are not easing between the First Step and the Second Step of Victoria’s roadmap for reopening from 28 September 2020. The business’ eligibility for the grant will be determined by their ANZSIC reference code which identifies the nature of the industry they operate in.

Click here to access Business Victoria’s document that outlines the ANZSIC industry codes of all those businesses that will be eligible to apply for the third round of Business Support Fund grants.

Based on the guidelines, businesses operating within the construction industry, manufacturing industry, wholesale trade and warehousing industry, postal distribution centres, early childhood education and care industries and schools (based on their registered ANZSIC code) will not be eligible for the third round Business Support Fund grant as the level of their operating restrictions will be eased from 28 September 2020.

Businesses located in Regional Victoria

If the business is located outside of Metropolitan Melbourne, in order to be eligible for the grant, the business needs to operate in an industry sector currently designated as “Restricted”, “Heavily Restricted” or “Closed”. As mentioned above, you can click here to access Business Victoria’s document that outlines the ANZSIC industry codes of all those businesses that will be eligible to apply for the third round of Business Support Fund grants.

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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