The Victorian Government has announced a third round of the Business Support Fund to provide direct financial support to businesses impacted by restrictions in Victoria.

Grant applications opened on Friday 18 September 2020. The grants available, range from $10,000 to $20,000 depending on the businesses annual payroll.

Eligibility is similar to the second round grants and applicants must:

• Operate a business located within Victoria; and
• Participate in the Commonwealth Government’s JobKeeper Payment scheme; and
• Employ people and be registered with WorkSafe; and
• Have had an annual payroll of less than $10 million in 2019-20; and
• Be registered for Goods and Services Tax (GST); and
• Hold an Australian Business Number (ABN); and
• Be registered with the responsible Federal or State regulator.

An eligible business will receive:

• $10,000 if its annual payroll is less than $650,000
• $15,000 if its annual payroll is between $650,000 and $3 million
• $20,000 if its payroll is between $3 million and $10 million.

Other grants were also announced relating to Licensed Hospitality Businesses and a Sole Trader Support Fund.

Please contact your DFKBKM representative to review your eligibility to participate in this round of Grants

Further details are on the Business Victoria site can be found here.