Here’s What Financial Support is Available for Businesses Affected by Victoria’s Covid Restrictions

Many Victorian businesses, particularly in the tourism and hospitality sectors, have sustained ongoing revenue loss due to Covid-related lockdowns and restrictions. There are a number of financial support options available for business owners, so we’ve rounded them up here.

Businesses such as cafes, gyms, restaurants, hairdressers and more that have lost revenue due to density limits can apply for a grant of up to $5000. CBD businesses are eligible for an extra $2000 on top of this due to the reduction in office workers in the city. These grants are available to businesses that previously received or are eligible for the business costs assistance program.

Licensed venues can also benefit from the $2000 grant for CBD venues. Pubs, clubs and bars that previously received or were eligible for the licensed hospitality venue fund can receive grants of up to $20,000 depending on how much their turnover has decreased.

Small businesses that have missed out on grants to date can also apply for grants of up to $5000. To be eligible, you need to have a payroll of up to $10 million and be able to prove that you’ve suffered a 70 per cent or greater decrease in revenue. Grants ranging from $5000 to $20,000 are also available for alpine-based businesses, operators and management boards.

The commercial tenancies relief scheme has also been reinstated to help landlords offer relief to their tenants. The scheme is available to businesses with an annual turnover of less than $50 million who also saw at least a 30 per cent decline in turnover due to Covid-related restricitons. For example, if a business has a turnover that’s 30 per cent of pre-pandemic levels, the business owner can only be required to pay 30 per cent of their rent.

A full list of business support payments, eligibility and application processes can be found on the Victorian Government website.

Photography: Jake Roden