I’m here with the COVID-19 continuity update for Australian businesses on 9th July, and I’ve got some good news for Melbourne-based clients forced into a second lockdown.
In today’s briefing: More grant money available for Victoria
$5,000 Victorian Government support grant for Melbourne businesses
As reported in my briefing on the 2nd July, Victorian Premier Dan Andrews announced an initial $5,000 support grant for businesses in the lockdown areas. This is in addition to the $10,000 grants that we informed you about in May, which were paid to businesses too small to take advantage of the payroll tax refunds.
This latest grant of $5K was announced for businesses within the 10 postcodes that were put back into stage 3 lockdown on the 1st July. Now the grant is open for businesses in greater metropolitan Melbourne, since the decision to lockdown the larger area came into effect yesterday.
There is little we know about the grant at this stage, however we do know that to be eligible businesses must employ people and have a payroll of less than $3 million per annum.
It is registration of interest only at this stage and the link to register your business can be found here: https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/restricted-postcodes-business-support-program
I’ll provide further updates when I find out more about this grant and when it might be paid. In the meantime, your business coach will work with you to update your financial model and cash flow projections to see where you might need to inject an extra $5K.
Ashley Thomson B.Eng(Hons), Grad. Dip. Mgmt, MEI
Tenfold Business Coaching