Victoria’s flood crisis is far from over, with small businesses across the state still swamped and business owners still under threat from more flooding.
To help provide support, the Victorian Government has last week announced a flood relief package for Victorian businesses that have incurred significant direct flood damage during the Victorian flood events that commenced in October 2022.
The Small Business Immediate Flood Relief Program includes one-off grants of $5,000 to support thousands of businesses, with additional support available through a new dedicated Business Relief Service.
Am I eligible for this flood relief grant?
The Small Business Immediate Flood Relief Program supports businesses that have incurred significant direct flood damage due to the Victorian floods that commenced in October 2022.
To be eligible for the flood relief grant your business must:
- be located within a local government area (which includes Melbourne City Council) and be deemed eligible for assistance under the Disaster Recovery Funding Arrangement
- hold an active Australian Business Number (ABN) on and from 14 October 2022
- be registered for Goods and Services Tax (GST) on and from 14 October 2022
- have incurred significant direct damage from flooding to the place of business, business assets, stock or equipment.
What type of damage does the flood relief grant cover?
The Victorian Government has provided a few examples of significant damage that would be directly caused by the floods. These could include:
- property, business assets, stock or equipment directly damaged by flood water and clean-up, or their replacement (purchase or hire) is now necessary
- structural damage to property, business assets, stock or equipment has occurred as a direct result of the floods and now a qualified person (e.g. tradesperson) is required to inspect (e.g. safety) or repair affected items
- the place of business is unsafe due to direct flood damage and temporary premises are required to resume business operations
- property, business assets, stock or equipment was swept away by flood water and their replacement is essential to resume business operations.
How do you apply and what’s the deadline?
To apply visit the Business Victoria website. Applications close 4pm Friday 13 January 2023 or when funds are fully allocated, whichever comes first. We have other recent grants close prior to the deadline (due to running out of funds), so we suggest you submit your application early.
How can Morrows Help?
If you have any questions or are interested in finding out what other small business grants and support are applicable to your business, please reach out to your Morrows Advisor.