Thanks to the Victorian Government, small businesses are now entitled to receive a $2,000 grant for financial and legal services.
The $5 million Small Business Specialist Advice Pathways Program has been launched to support businesses that need to adapt, pivot or change their core business activities in response to the COVID‑19 pandemic or other disruptions.
Small Business Recovery Programs
Eligible small businesses can receive a $2,000 grant to access financial and legal advice from trusted professionals, such as your friendly Morrows advisor. In addition, we have several programs, workshops and services specifically designed to help you navigate the road to recovery.
Our workshops have been designed to help bring light to the priorities and road forward, using real-life examples and tools to help business owners prioritise strategies to get back on the road of recovery, such as Business Health Checks, Cash Flow Budgets and Projections and Profitability Improvement Analysis and Strategies.
Better get in quick! For your chance to receive the $2,000 grant.
It’s not a bottomless piggy bank. The grants are being offered to businesses that apply first and ends on Friday 30 September 2022, or until funds are exhausted.
Is my business eligible? What are the criteria?
As always, there are some eligibility criteria, we encourage you to visit the Business Victoria website for further information. However, we have outlined below some of the key ones that you need to be aware of:
Only one Grant funding of $2,000 is available:
- Per legally structured business registered in Victoria with an Australian Business Number (ABN) and have held that ABN on and from 1 July 2020
- The business must be registered with WorkSafe Victoria and
- Employ 1-19 full-time equivalent staff.
Sound like you? Well, here’s some of the fine print. The small business must:
- Spend a minimum of $2,000 (ex GST) per project.
- Seek to procure a minimum of eight hours of services from a friendly provider such as Morrows.
- NOT commence the project before receiving and acknowledging the receipt of the ‘Successful Email’ and must satisfactorily complete the project by 31 January 2023.
When can you expect to receive the Grant?
If you are eligible, $1,000 payment of the grant funding will be provided upfront payment to commence the project and a final grant instalment of $1,000 on the satisfactory completion. Once the project has been completed, you will need to complete a claim form to confirm the completion of works and provide a statutory declaration the funds have been paid.
How can Morrows help?
We encourage all our clients to take advantage of this opportunity, and here is a summary of the types of services you are entitled to receive. Morrows can assist with the following:
- Advice and analysis regarding the management of cash flow, preparation or cash flow budgets and projections,
- Profitability analysis and formulation of financial management and/or operational business strategies,
- Workshops or programs to provide strategic analysis to revise business planning and/or governance arrangements,
- Advice regarding the management of debts and liabilities, or
- Legal advice and/or representation regarding commercial agreement contract terms (i.e. commercial leases or commercial supply contracts).
If you have any questions or would like to take advantage of the opportunity to have this important and valuable assistance with your business reach out for a chat.