Continued support for Small Businesses in Victoria
To support businesses impacted by these new Stage 4 restrictions, one-off grants will be made available to eligible businesses under the Business Support Fund – Expansion program:
- $10,000 for employing businesses in metropolitan Melbourne and Mitchell Shire in recognition of spending longer under restrictions
- $5,000 for employing businesses in regional local government areas (except Mitchell Shire)
Businesses which have already received a BSFe grant, or have applied for one, will not need to re-apply. Successful applicants will automatically receive this additional allocation.
Applications for the program will be extended until 14 September 2020.
Updated guidelines and information will be provided in the coming days.
This program is in addition to the first round of the Business Support Fund, which closed on 1 June 2020.
Energy Efficient Communities Program: Small Business Grants
The Australian Governments is awarding small businesses grants of up to $20,000 for improving their energy efficiency. Grants can be used for equipment and component improvements, energy audits, feasibility studies and/or energy use and emission monitoring.
Closing 26th August 2020
Backing Business Investment (BBI)
A time limited 15 month investment incentive (through to 30 June 2021) to support business investment and economic growth over the short term, by accelerating depreciation deductions. Businesses with a turnover of less than $500 million will be able to deduct 50% of the cost of an eligible asset on installation, with existing depreciation rules applying to the balance of the asset's cost. Learn more about it here
Small & Medium Enterprise (SME) Guarantee Scheme
This will provide businesses with funding to meet immediate cash flow needs, by further enhancing lenders' willingness and ability to provide credit. Businesses with a turnover of up to $50 million will be eligible to receive these loans. Learn more about the scheme here
The Australian Tax Office (ATO) is providing relief for some tax obligations for businesses affected by the outbreak, on a case-by-case basis. More information can be found here
COVID19 Manufacturer Response Register Portal
The Advanced Manufacturing Growth Centre (AMGC)'s portal for Australian manufacturing, component suppliers and skilled design, engineering and manufacturing experts enables manufacturers to register their interest and core competencies in support of the national response to COVID-19. Click here for further information or to register.
Boosting Female Founders Initiative
Boosting Female Founders (BBF) aims to help female founders to access early stage capital to grow their start-ups in national and international markers. The program will provide grants between $25,000 and $400,000 on a co-contribution basis to successful applicants and run over 3 years. The start-up must be at least 50% women owned (equity or shares) and at least 50% of the founding team or senior managers must be women.
See the program guidelines for eligibility criteria, more information and how to submit your EOI here.
JobKeeper Wage Subsidy Announcement
Businesses significantly impacted by the Coronavirus outbreak will be able to access a subsidy from the Government to continue paying their employees through the JobKeeper payment. This assistance will help businesses to keep people in their jobs and re-start when the crisis is over.
More information can be found here
Assistance to help pay wages of Apprentices or Trainees
Eligible employers can apply for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage paid during the 9 months from 1 January 2020 to 30 September 2020. Where a small business is not able to retain an apprentice, the subsidy will be available to a new employer. Employers will be reimbursed up to a maximum of $21,000 per eligible apprentice or trainee ($7,000 per quarter). For more information and to apply click here
FREE Business Resilience program
Australian Small Business Advisory Services Digital Solutions (ASBAS) have launched a program designed to assist Victorian small businesses affected by COVID-19. Support includes free access to virtual mentoring, online workshops, and resources.
Businesses will need to fit the following criteria to partake in this program:
- Victorian For-Profit Business
- Active ABN
- Under 20 Employees
You can visit their mentor page and workshop page for more information, or email email@example.com for enquiries regarding the Business Resilience program.
This Federal Government funded program is aimed at increasing the digital capabilities of Small Businesses in Australia. It accomplishes this by offering low cost, easy to understand workshops (including face to face when able), webinars, and advisory services directly to small business owners.
A full suite of free educational opportunities to assist businesses are available here