Victorian businesses to share in $3bn support package, welcomed by Geelong Chamber of Commerce
A $3bn bonanza to support businesses decimated by the COVID-19 pandemic will include cash grants of $10,000, payroll tax deferrals and support for digital literacy.
Geelong
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A $3bn bonanza to support businesses decimated by the COVID-19 pandemic will include cash grants of $10,000, payroll tax deferrals and support for digital literacy.
The package unveiled by the Andrews government on Sunday will also include $1.1bn in grants for small and medium businesses, $251m for licensed venues, and the waiving of liquor licence fees for 2021.
Under the lifeline for business, payroll tax for those with payrolls up to $10m will be deferred until 2021-22, freeing up $1.7bn statewide, and about 75,000 eligible businesses with payrolls up to $10m will receive grants of up to $20,000.
The 50 per cent stamp duty discount for commercial and industrial property across regional Victoria will begin on January 1 next year under support in the package, while congestion levies and increases to the landfill levy will be waived or deferred.
Premier Daniel Andrews said the government would continue to meet with business to understand their needs.
“For our state to recover, we need our businesses to recover too. As we take our first safe and steady steps towards COVID normal, this support will help make sure we get through this together,” Mr Andrews said.
Other support in the package includes:
$44M for businesses to operate under “COVID normal” guidelines;
$20M for small businesses to access off-the-shelf programs designed to help them adapt to online operations; and,
$15.7M to solve logistics and supply chain issues by establishing new export channels.
Chambers of commerce across the state will be eligible for grants up to $20,000 to help members adapt and operate amid COVID-19.
Geelong Chamber of Commerce chief executive Ben Flynn said business mentoring and support was available via the organisation.
“(This package) is substantial and targeted and will be really appreciated by a lot of businesses that are really affected by the pandemic,” Mr Flynn said.
“I encourage all businesses to get in touch with the chamber and see what we can do for them.
“A lot of our programs are not just for members. We recognised we had a broader obligation (to business) when the pandemic kicked off.”
“This (package) is a really important step. There may need to be more down the track.”
Other initiatives in the package include $8.5m for marketing and advertising for the Click for Vic campaign, and $20,000 grants to alpine resorts.
Committee for Geelong chief executive Jennifer Cromarty said many businesses were doing it tough but were committed to their staff “and ensuring they are part of the recovery process in a COVID normal economy”.
Victoria Tourism Industry Council chief executive Felicia Mariani said: “We know the tourism and events industry was the first to be impacted by the coronavirus pandemic and we will be the last to recover from its impacts.”
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Originally published as Victorian businesses to share in $3bn support package, welcomed by Geelong Chamber of Commerce