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Top 5 business resources you should know about in Melbourne

July 5, 2021
Uncategorized

Finding which resources are relevant to your business can be a challenge. Below is a summary of our top 5 business resources in Melbourne that could benefit your business, right now.

1. Sole Trader Support Fund
Many sole traders were not eligible for the Business Support Fund Program rolled out to help small business; but the Victorian government announced a $100 million package of grant funding for sole traders who may have been previously excluded.

Premier Daniel Andrews has said a “package of considerable support” totalling 3 billion would be made accessible to sole traders, and Victorian small and medium-sized businesses. This will include $100 million in grants funding for sole traders and grants of $3,000 to sole traders who are tenants or licensees in commercial premises. This is expected to help up to 33,000 sole traders. Access more information here.

2. Business Support Fund Third Round
The third round of the Business Support Fund will provide grants of $20,000, $15,000, or $10,000, depending on the size of your business, to eligible businesses with a payroll of up to $10 million. Applications are open now. This initiative is not available to sole traders that do not have employees.

Is your business eligible for payroll tax relief?

3. Voucher Program
There is also a $20 million voucher program available to sole traders and small businesses to aid in building their digital capacity through platforms such as Shopify or Square online and workshops designed to help adapt to online operations.

4. Commercial tenancy relief scheme
The Victorian Government commercial tenancy relief scheme aims to alleviate the financial hardship faced by commercial tenants and landlords because of coronavirus. It includes:

  • – six-month postponement on commercial tenancy evictions from 29 March 2020 for small businesses with an annual turnover of less than $50 million. If you are unable to pay their rent and have experienced a minimum 30 percent reduction in turnover are eligible for this support.
  • – a freeze on rent increases.
  • – commercial landlords are required to negotiate rent relief after considering the reduction in their tenant’s turnover and their own ability to offer financial relief. A free mediation service is available for those unable to reach an agreement. If you are stuck in an unaffordable lease agreement and you would like to discuss your tenancy situation you can email the Victorian Small Business Commission here or phone them on 13 87 22. If you are unsure how to approach you landlord a free ‘letter of support’ template can be accessed

The government will guarantee loans from eligible lenders for SMEs, including sole traders, with a turnover of up to $50 million

5. The Coronavirus SME Guarantee Scheme
The government will guarantee loans from eligible lenders for SMEs, including sole traders, with a turnover of up to $50 million. This is unsecured finance, meaning you will not have to provide an asset as security for the loan. This initiative aims to give businesses access to working capital when they need it to help them survive, adapt, or pivot their business in the wake of the virus. Loans can be held up to three years, with an initial six-month repayment holiday.

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Competition Terms and Conditions

  1. The Promoter is Clarence Professional Group (Melbourne) Pty Ltd, L11, 456 Lonsdale Street, Melbourne VIC 3000 ABN 81 624 440 400 (the Promoter).
  2. Entry into the competition constitutes acceptance of these terms and conditions.
  3. Entry is open to all VIC, NSW and QLD residents of 18 years of age or older except any employees of the Promoter and their immediate families, orany existing office and virtual members (or their related entities) of the Promoter.
  4. The competition closes at 11:59PM on the 1st March 2024. The winner will be announced on the 8th March 2024.
  5. To enter the competition, participants need to submit their entry at clarenceprofessionalgroup.com.au/comp via the website form, or other accepted methods of entry provided by Clarence. One entry is allowed per entrant. Verified business email address required. Complete details are required (first and last name, phone number, work email, city, company name).
  6. Competition entries will be evaluated during the 2nd and 8th of March at Clarence Professional Offices at Level 33, 385 Bourke Street, Melbourne.
  7. The winner will be notified by email and phone call by a representative of the Promoter. The competition winner will also be announced on Clarence Professional Offices’ social media channels. By entering this competition, the winner provides their consent to being announced on Clarence Professional Offices’ social media channels.
  8. Winner selection criteria is determined via random draw. All decisions are final.
  9. Prize details: the prize is a 6-month license fee agreement for a 2-person serviced office space one of the following Clarence Professional Office spaces -Level 33, 385 Bourke St, Melbourne, Level 11, 65 York St, Sydney or 95 North Quay, Brisbane. The value of the prize is $9,500 (incl. GST) (the Prize). A security deposit is applicable to redemption of the prize, refundable at the end of the license agreement, pending standard terms and conditions of Clarence Office License Agreements. The security deposit is calculated at 2 months of the list price for the serviced office offered as the competition prize. Location of prize is subject to change at any time in the Promoter’s sole discretion.
  10. Standard Clarence Office License Agreement terms and conditions apply.
  11. The prize is non-transferrable, it cannot be exchanged or redeemed for cash and can be cancelled any time by the Promoter.
  12. If the prize winner requires a larger serviced office space, the prize value can be credited towards an agreement for a larger space for an equal or longer lease period. Larger spaces are subject to availability and are at the sole discretion of the Promoter.
  13. Use of the prize is solely for the winner of the promotion.
  14. The Promoter assumes no responsibility for late, lost or misdirected emails or phone calls. If the Promoter is unable to contact the competition winner after 1 week (for any reason), the prize will be withdrawn and transferred to the next successful recipient.
  15. If for any reason this competition is not capable of running as planned, including infection by computer virus, bugs, tampering, unauthorised intervention, fraud, technical failures or any other causes beyond the control of the Promoter which corrupt or affect the administration security, fairness, integrity or proper conduct of this competition, the Promoter reserves the right in its sole discretion to disqualify any individual who tampers with the entry process, and to cancel, terminate, modify or suspend the competition.
  16. The Promoter reserves the right to alter or amend these terms and conditions at any time throughout the promotion, or limit entry, without notice.
  17. The Promoter will not be responsible or liable if for any reason (beyond their reasonable control) any element of the Prize is not able to be provided.
  18. In all matters, all decisions of the Promoter, will be final and cannot be contested. No correspondence or discussions will be entertained.
  19. The Promoter reserves the right to disqualify any individual who the Promoter believes has breached any of these terms and conditions, or engaged in any unlawful or other improper misconduct. The Promoter reserves it rights to recover damages or other compensation from any such offender.
  20. All contestants release from the Promoter against all liability, cost, loss or expense arising out of acceptance of any prize(s) or participation in this competition including (but not limited to) loss of income, personal injury, accident or death and damage to property and whether direct or consequential, foreseeable, due to any negligent act or omission or otherwise.
  21. By entering into this competition, you agree to share your personal information with the Promoter, subject to the Promoter’s Privacy Policy, for use in marketing and sales activities by the Promoter.
  22. To the extent permitted by law, the Promoter is not responsible or liable for:
    (a) inaccurate or incorrect transcription of entry information;
    (b) non-receipt of entries for any reason;
    (c) problems or technical failures of any kind;
    (d) unavailability or inaccessibility of any service or website;
    (e) unauthorised human intervention in any part of the competition;
    (f) electronic or human error; or
    (g) any damage or loss (direct or indirect) suffered by reason of any act or omission of the Promoter, its employees or contractors in relation to entry into this competition or supply of a prize.