We’re in … and then we’re out.
Coming in and out of lockdown has been exhausting for many regional Victorian’s. With restrictions announced and very little time to prepare, it’s been particularly tough for business owners and their employees.
Each lockdown sees businesses making the tough decision of whether to open or not, with many hospitality venues opting to close for the period, as the COVID safety demands outweigh the profitability of the lockdown.
While we do consider ourselves lucky in regional Victoria, compared to our Melbourne counterparts, there is no denying it has still been hard.
In response to the latest lockdown, the City of Greater Bendigo have announced a Business Grants Fund, aimed to support local businesses cope with he ongoing effects of the COVID-19 pandemic and beyond.
The COGB proudly launched their Business Grants Fund, providing $729,000 of funding to support a range of initiatives such as developing innovation, collaboration and entrepreneurship in an attempt to help boost recovery efforts, increase business capabilities and create a stronger and more resilient local economy.
Grants ranging from $2,000 to $15,000 are now available to eligible businesses, and will help provide funding the support projects and activities that will boost business and economic recovery.
- 24 August 2021 – Applications open
- 23 September 2021 – Applications close
- 15 October 2021 – Applicants notified of outcome
- 29 October 2021 – Funding agreements due
- 31 March 2022 – Acquittal due
The funding will be divided into five funding streams to deliver the below grants.
STREAM 1: Planning, Training and Development
Grants available up to $2,000
This stream will support businesses to undertake future planning or develop new skills. It is aimed at businesses who can evidence negative impacts against COVID-19.
Stream 1 is open to businesses that have been trading for a period of more than 12 months and can demonstrate capacity for continued sustainability and growth.
STREAM 2: Launchpad
Grants available up to $5,000
The second stream of grants provides financial support to develop new business ideas which allow the business to start. It offers initial funding to progress business ideas and assist with local employment opportunities.
Launchpad grants are available to businesses that have been trading for a period of less than 12 months, including those in the early start-up phase and businesses who have not yet transacted any sales.
STREAM 3: Innovation and Growth
Grants available up to $10,000
The stream three grants are designed to provide financial support to develop established businesses and grow employment. Stream three grants are open to businesses who have been trading for a period of more than 12 months and demonstrate capacity for continued sustainability and growth.
The innovation and growth grants are aimed at busineses who can evidence negative impacts against COVID-19.
STREAM 4: Precinct Growth
Grants available up to $12,500
Stream four grants are designed to foster collaboration between businesses, provide opportunities for place making and encourage creativity. Stream 4 grants are open to a group of 3 or mor businesses located within a precinct, industry groups or like businesses.
STREAM 5: Research and Development
Grants available up to $15,000
Stream 5 grants are designed to support the delivery of research and development projects that ensure accelerated economic recovery and industry transition from the impacts of COVID-19 but supporting businesses to be investment ready and capable to deliver on opportunities. These grants are open to businesses who have been trading for a period of more than 12 months and can demonstrate a capacity for research and innovation.
The COGB Business Grants Funds are open to businesses who meet the following criteria:
- are a legal entity with an ABN, ACN or are incorporated or have an auspice that is a legal entity
- are based within the City of Greater Bendigo; have its principal place of business located within the City of Greater Bendigo; and/or are able to demonstrate the proposed activity will benefit the communities within Greater Bendigo
- have acquitted all previous Council grants
- have no outstanding debts to Council
- are not part of a retail chain or franchise
- demonstrate the grant will be used for a purpose in accordance with the terms and conditions of this agreement
- demonstrate they are capable of delivering the proposed activity
- are compliant with all relevant local, state, and federal legislation agree to being contacted and respond to a post-grant survey
How to apply
For more details on each of grant streams, please visit https://www.bendigo.vic.gov.au/Services/Business/Business-Grants-Fund. You will also find more information on eligibility and how to apply.
Our staff continue to work from home during these lockdown periods, and remain available to provide you with the support you need. Our staff are available for phone or Teams online appointments. If you would like to speak with one of our Accountants or Advisors, please contact our office on (03) 5445 4777.