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Victorian government delivers lifeline to sole traders

by OnDeck Australia,   Sep 15, 2020

 

The Victorian government has announced a $100-million support package to assist sole traders. This package is additional to a $3 billion support package also aimed at supporting businesses operating in the locked down state.

 

The Business Survival and Adaptation Package is a response to the tough times many Victorian sole traders have experienced during the pandemic, with the new Sole Trader Support Fund providing grants of up to $3,000 and, in some special cases, over $30,000 to eligible businesses working in heavily affected sectors such as media and film production, creative studios, outdoor entertainment, private museums, galleries and gyms. Also, a sole trader must be a tenant or licensee operating from a commercial premises or location.

 

While many sole traders have relied on JobKeeper payments to survive, overheads are adding up, and these grants aim to help these businesses weather ongoing COVID restrictions and until they are back to full swing. Victorian Minister for Small Business Jaala Pulford commented, “We’ve listened to our sole traders and understand they’ve been doing it tough – this support will give them more certainty, and more security.”

 

The Victorian Government also announced the Outdoor Eating and Entertainment Package, which will provide $87.5 million to councils and businesses outside of Melbourne’s CBD to make widespread outdoor dining safe and practical.

 

Furthermore, $58 million will go towards grants of up to $5,000 to help hospitality businesses pay for the practical elements that will help make this plan effective such as umbrellas, outdoor furniture, screens and other equipment. The government will also invest in training, advertising, and the other supports businesses will need as we take our café culture outdoors. The $5,000 grants will be available to licensed and unlicensed cafés, restaurants, takeaway food businesses, pubs, taverns, bars and clubs with a payroll of less than $3 million – with more than 11,000 businesses eligible for the $5,000 benefit.

 

Visit here for more details on Victoria’s Business Survival and Adaptation Package.

 

For the latest updates on all the support available for small businesses, visit OnDeck’s COVID-19 Recovery Hub that provides SMEs with details about government stimulus packages, practical tips on managing a small business through uncertain times, case studies of inventive SMEs pivoting their expertise to survive the pandemic and recommended reading from trusted sources.

 

OnDeck's COVID-19 Recovery Hub

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Prepared by OnDeck Capital Australia Pty Ltd ABN 28 603 753 215 (“OnDeck”) for general information purposes only. Content may belong to or have originated from third parties and OnDeck takes no responsibility for the accuracy, validity, reliability or completeness of any information. Information current as at September 2020. You should not rely upon the material or information as a basis for making any business, financial or any other decisions. Loans issued in Australia are subject to the terms of a loan agreement issued by OnDeck. Loans are subject to lender approval. OnDeck® is a Registered Trademark. All rights reserved.

 

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