Good afternoon to all,
I hope that you are doing well and having a great week.
Yesterday, information was released about the Small Business COVID Hardship Fund.
https://business.vic.gov.au/grants-and-programs/small-business-covid-hardship-fund
The program offers grants of $10,000 to eligible small and medium businesses, including employing and non-employing businesses. This program will allow more businesses that have previously not received support, to receive financial relief now.
Please read the FAQ:
https://business.vic.gov.au/grants-and-programs/small-business-covid-hardship-fund/faqs
Are you eligible for the Small Business COVID Hardship Fund?
See the criteria for eligibility below.
To be eligible, businesses must:
- be located within Victoria
- as a direct consequence of COVID-19 restrictions since 27 May 2021 have experienced a reduction in turnover of at least 70% for a minimum consecutive two-week period comparable to a benchmark period in 2019
- have an annual Victorian payroll of up to $10 million in 2019-20 on an ungrouped basis
- have been registered for Goods and Services Tax (GST) on and from 28 July 2021
- hold an Australian Business Number (ABN) and have held that ABN on and from 28 July 2021
- be registered with the responsible Federal or State regulator.
Employing businesses must also:
- be registered with WorkSafe Victoria
- attest that the business is supporting its workers to access any paid leave entitlements, or that if a person can work from home, to work from home during the COVID-19 restrictions, and supporting their casual workers, where possible.
Businesses should ensure that all relevant registrations are up to date before applying for a grant under this program.
Additional info on Eligibility:
The Victorian Government’s Small Business COVID Hardship Fund assists eligible small and medium businesses:
- whose operations have been severely impacted by COVID-19 restrictions that have been in place between 27 May 2021 and August 2021
- that have experienced at least a 70% reduction in turnover because of the COVID-19 restrictions
- that are ineligible for other key COVID-19 Victorian Government business grant programs that have been announced since 27 May 2021.
This includes businesses that can operate but COVID-19 restrictions preclude them from generating revenue, for example:
- my key customer was required to close (e.g., food and beverage manufacturers that supply closed venues)
- the location or type of business meant that access to my customers was severely impacted
- my customers cancelled bookings or orders.
IMPORTANT:
Information for other or previous grant recipients
Businesses that have received funding under any of the Victorian Government COVID-19 support packages launched on or after 27 May 2021 are not eligible for a grant under this program.
Businesses that have received assistance through the Business Support Fund, payroll tax rebate/waiver, or another COVID-19 program launched prior to 27 May 2021 may apply for assistance under this program.
How to apply
Applying Info
The application button and options are at the bottom of the website: https://business.vic.gov.au/grants-and-programs/small-business-covid-hardship-fund
Applications are open from Thursday 12 August 2021 until program funds are exhausted or 11:59 pm on Friday 10 September 2021, whichever is earlier.
Check that your details on the Australian Business Register website are correct prior to submitting an application. Incorrect information may delay the assessment of your application.
You can choose to apply for this program in one of three ways:
- A qualified agent (qualified accountant, registered tax agent, or registered BAS agent) can apply on your behalf and verify the 70% drop in business turnover as part of the application. The qualified agent needs to attest that they are authorised to apply on your behalf.
- You can apply directly as a business owner and have the application verified by a qualified agent (qualified accountant, registered tax agent, or registered BAS agent) using the Small Business COVID Hardship Fund – Letter from the Qualified Agent template (DOCX 51.23 KB)
- Business owners who do not have access to a qualified accountant, registered tax agent, or registered BAS agent can register their interest for the program. Applicants may receive an Invitation to Apply email from the department. Applications received via the Invitation to Apply process may take up to 25 business days to process, due to the need for additional verification measures.
You must demonstrate a reduction in turnover of at least 70% for a minimum consecutive two-week period since 27 May 2021 as a direct consequence of COVID-19 restrictions, comparable to a benchmark period in 2019.
Businesses should compare their best consecutive two-week trading period between 27 May and 10 September 2019, with their worst consecutive two-week trading period between 27 May and 10 September 2021.
The Victorian Government or representatives may audit your application, so you will need to produce evidence at the request of the Victorian Government.
If any information in your application is false or misleading, you may be asked to repay the grant.
➖Please be aware, if you wish for us to apply on your behalf OR provide you the Letter from a Qualified Agent (us), there will be a fee for time and services rendered. We will work on a first-in, first-served basis during business hours.
I highly suggest reading through the guidelines thoroughly and the website linked at the beginning of this email before considering making an application.
Small Business COVID Hardship Fund guidelines (PDF 310.48 KB)
Small Business COVID Hardship Fund guidelines (DOCX 781.34 KB)
Other information you need for your application
When applying for this grant you will need:
- to demonstrate a reduction in turnover of at least 70% for a minimum consecutive two-week period since 27 May 2021 as a direct consequence of COVID-19 restrictions, comparable to a benchmark period in 2019
- businesses should compare their best consecutive two-week trading period between 27 May and 10 September 2019, with their worst consecutive two-week trading period between 27 May and 10 September 2021
- endorsement of the reduction in turnover by a qualified agent (qualified accountant, registered tax agent, or registered BAS agent)
- you may be required to provide evidence including a sales report, financial statement, and/or a Business Activity Statement (BAS) to demonstrate the reduction in turnover
- a valid proof of identity document (Australian driver licence, Australian Passport, Medicare Card or Australian visa information, and foreign passport).
Incomplete or incorrect information may delay your application assessment. Please ensure you complete the application correctly and provide all relevant documentation.
Assessing your application
Business Victoria will endeavour to process your application and notify you of a successful outcome within 15 business days of receiving a completed application.
There may be delays in notifying you of an outcome of your application if:
- does not meet all the eligibility criteria
- does not have correct evidence or documentation
- requires you to make changes
- is a duplicate application for the same business
- has incorrect information, such as ABN or bank details (for successful applicants)
- contains incorrect details of the qualified accountant, registered tax agent, or registered BAS agent, or if the qualified agent fails to endorse your business’ reduction in turnover
- does not include current or accurate information registered with relevant regulators or partner agencies, such as the State Revenue Office, Australian Business Register, or WorkSafe Victoria.
You may also be contacted to provide updates on your application or seek additional information to process your application.
We consider the following circumstances when assessing your application:
- any adverse findings by a regulator regarding a business
- if your business is placed under external administration
- if there is a petition to wind up or deregister a company or business
- if your business is or becomes deregistered or unregistered (including cancellation or lapse in registration).
You can check the status of your application by logging into the Business Victoria Grants Portal.
Applicants with multiple businesses
You can only apply for one grant per ABN. If you have separate ABNs for your businesses, you must submit separate applications for each ABN. Each business or ABN must satisfy all the eligibility criteria.
Any other questions specific to this support package, please contact Business Victoria on 13 22 15 during their business hours of 8 am – 6 pm.
This information will also be on our website for reference.
I do hope this can help you in these difficult times for small-medium businesses.
Take care and stay safe,
Dragana Przulj