Cash grants for regional businesses most affected by the current lockdown will proceed next week, unaffected by today’s announcement that restrictions in most areas outside of Melbourne will be lifted from Friday.
Minister for Industry Support and Recovery Martin Pakula and Minister for Small Business Jaala Pulford said full payment for the two weeks from 2-16 September – automatic deposits ranging from $5,600 to $40,000 – would go ahead, as had always been intended.
Business Costs Assistance Program Round Four grants will be made to about 18,000 regional business at tiered levels, depending on worker numbers. Businesses with an annual payroll of up to $650,000 will receive $5,600 – equal to two weekly payments of $2,800.
Businesses with a payroll of $650,000-$3 million will get $11,200 (two weekly payments of $5,600) and businesses with a wages bill of $3 million-$10 million will receive $16,800 (two weekly payments of $8,400).
The Victorian Government will assess which sectors remain under severely impacted settings before making further announcements on arrangements for the two-week period from 17 September.
More than 16,000 Hardship Fund grants have so far been paid to businesses that have experienced a reduction in revenue of at least 70 per cent due to the effects of the pandemic.
The Government has provided more than $10 billion in direct economic support to business since the start of the pandemic, including $3.3 billion in cash grants to 145,000 businesses since the May/June lockdown.