Institute of Certified Bookkeepers

Second Business Support Package Needed

ICB is joining with other business support groups to seek the Victorian Government to launch a second Business Support Package that applies to more small business.

ICB regards the Victorian Governments new Circuit Breaker Business Support Package for impacted businesses as a first half step to supporting the small businesses in Victoria.

While it is good for those that qualify, the restrictions as per below, exclude over 600k small businesses. Interesting that another selected industry (Ski fields and related) have been allocated more support.

Restrictions

  • Must be GST registered.
  • Have to be in the selected industries (ANZIC code dependant).

ICB is joining with other business support groups to seek the Victorian Government to launch a second Business Support Package that applies to more small business. It is not only the closed businesses that are impacted. Many that are able to open have few customers, yet they are not supported in any way. Business is being called on to continue paying staff yet have no revenue and hence no cashflow to be able to do so.

We seek instant support to be made available to those who need it. The program should not be buried in pre-requisites. We are now in a situation where businesses are reporting that they will just close, and they will not seek to re-open.

Adopting a model of positive support from Government to provide instant cash assistance to those who claim it with an agreement of latter proven decline in revenue would be a more effective approach.

For a business to have to face incurring further rent, further fixed costs, energy costs, rates, licence fees with no certainty about the ability to trade or whether customers are able to or willing to purchase creates anxiety and without support leads to a logical decision to shut the door. This would not be the best economic outcome for Victoria.

We need further support for all impacted businesses that need it.

  • 7th June, 2021
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