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States announce new rounds of small business grants

Adrian Flores
Adrian Flores
01 July 2020 1 minute readShare
new rounds of small business grants

Small businesses across several states will have access to new rounds of funding as part of economic recovery plans due to the COVID-19 pandemic.

The Victorian government announced yesterday a $5,000 grant for small businesses operating within postcodes affected by the most recent lockdown restrictions in response to COVID-19.

The lockdown restrictions apply to the following postcodes from 11.59pm on 1 July: 3064, 3060, 3055, 3047, 3046, 3042, 3038, 3032, 3021, 3012.

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Eligible businesses in Victoria can still receive the $5,000 grant even if they have already received a $10,000 Business Support Fund grant or payroll tax refund or waiver.

The Queensland government opened the second round of its Small Business COVID-19 Adaption Grant Program for small business on 1 July.

 

Eligible small or micro-businesses can apply for a grant amount of a minimum of $2,000 up to a maximum of $10,000.

It said up to $100 million is being made available, with half of the funding specifically earmarked for regional small businesses located outside of South East Queensland.

As of 1 July, 1,292 applications for grants under the program were submitted from South East Queensland, constituting 24.75 per cent of funds requested, while 326 applications were submitted from regional Queensland, making up 6.22 per cent of funds requested.

Successful applicants from round one of Queensland’s COVID-19 Adaption Grant Program cannot apply for funding under round two; however, small businesses that have submitted a round one application but haven’t heard back yet are eligible to apply for round two.

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Meanwhile, small businesses in New South Wales can apply for small business recovery grants ranging between $500 and $3,000.

Previous grants of $10,000 from the NSW government from a $750 million funding pool ended on 30 June, with 49,700 businesses accessing more than $490 million.

The new round of grants for small businesses in NSW will be funded with the remainder of the $750 million funding pool.

Victorian suburbs under stay-at-home orders

3012: Brooklyn, Kingsville, Maidstone, Tottenham, West Footscray

3021: Albanvale, Kealba, Kings Park, St Albans

3032: Ascot Vale, Highpoint City, Maribyrnong, Travancore

3038: Keilor Downs, Keilor Lodge, Taylors Lakes, Watergardens

3042: Airport West, Keilor Park, Niddrie

3046: Glenroy, Hadfield, Oak Park

3047: Broadmeadows, Dallas, Jacana

3055: Brunswick South, Brunswick West, Moonee Vale, Moreland West

3060: Fawkner

3064: Craigieburn, Donnybrook, Mickleham, Roxburgh Park and Kalkallo

States announce new rounds of small business grants
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Adrian Flores
Adrian Flores

Adrian Flores is the deputy editor of MyBusiness. Before that, he was the deputy editor for SMSF Adviser as well as features editor for ifa (Independent Financial Adviser), InvestorDaily, Risk Adviser, Fintech Business and Adviser Innovation.

You can email Adrian at [email protected].

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