Flood-affected Victorian businesses eligible for recovery grants as part of $877 million recovery package

Source: Brendan McCarthy/AAP Image

Flood-affected Victorian businesses are being given a multimillion-dollar helping hand to rebuild and return to trade, with the Australian and Victorian governments providing an $877 million Recovery Support package.

The package, which was announced this week, will support businesses, farmers and not-for-profits doing it tough across Victoria following the recent floods.

Eligible Victorian businesses and not-for-profit organisations will be able to access grants of up to $50,000 to support recovery efforts, including rebuilding damaged infrastructure and replacing damaged assets.

Medium and large businesses that have been directly affected by the floods will be able to tap into recovery grants of up to $200,000.

Victorian Premier Daniel Andrews said his government wants to ensure businesses affected by the floods have support.

“We’re making sure flood-affected business owners and communities have the support they need to rebuild and return to trade as quickly and safely as possible,” he said in a statement.

More than $22 million has been made available to help businesses navigate through the recovery period following the floods. The funding is for support services to facilitate the development of recovery plans, provide mental health support and assist in grant applications.

Business chamber and trader groups programs will also be established to enable locally-led solutions for business activation.

Prime Minister Anthony Albanese said in the same statement that the packages will help Victorian businesses “rebuild with confidence”.

The $877 million Recovery Support package is in addition to the $54 million Small Business Immediate Flood Relief Program VIC, which was announced by the Victorian Government in October.

The relief program, which is currently open and accepting applications until January 13, 2023, is providing small businesses that were affected by the Victorian flood events that commenced in October 2022 with a one-off payment of $5000 and access to free business mentoring.

The funds will support clean-up, safety inspections, repairs, the hiring of equipment and purchase of stock that businesses need to get back in business as quickly as possible.

The program will also support a dedicated Business Relief Service, with mentors to guide business owners through the available Commonwealth, state and local supports, manage insurance and landlord issues, and build a strong recovery strategy.

Minister for Business Support and Recovery Ben Carroll said it is important to help get small businesses back into business and trading again.

“Small businesses are the lifeblood of regional communities – and with recovery grants and dedicated mentors to help them navigate the re-building process, we’re supporting our traders to get back in business,” he said.

Any grant received through the existing $5,000 Small Business Immediate Flood Relief and $10,000 Primary Producer Flood Relief programs will be included in the maximum amounts available through the recovery grants.

More information about the support measures for Victorian businesses is available here.

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