Victorian sole traders receive COVID-19 support

Victorian sole traders have been included in the State Government’s latest round of coronavirus financial support, with a $100 million package to prop up those who have been restricted or forced to close during the state’s current lockdown.

Sole traders will be eligible for grants of $3000 to help them pay overheads while their business is impacted.

Around 33,000 sole traders are expected to share in the funding, which covers a wide range of businesses including hairdressers, accommodation providers, entertainers and gym owners.

The grants will be available to sole traders who operate from a commercial premises or location at which they are the tenant or licensee.

The news comes after criticism of previous rounds of Victorian Government funding, which provided billions in support to businesses through its Business Support Fund but did not cover thousands of sole traders.

While some sole traders have been able to access JobKeeper payments, those payments will drop from $1500 per fortnight to $1200 on September 28, and fall again to $1000 from January 4 until March 28.

On Monday, Victorian Minister for Business Precincts Martin Pakula said the sole trader support would be available a large number of industries.

“They will be industries like accommodation and tourism, some non-permitted retail, media and film production, gyms, creative studios, outdoor entertainment, private museums and galleries,” Pakula said.

“The new sole trader initiative is a recognition of the serious challenges that many sole traders have faced,” he said.

“It will allow tens of thousands of them to help pay their overheads — to give them the opportunity to emerge on the other side and recover strongly.”

For information on the sole traders support package, click here.