Following last week's string of news about local venues in dire need of financial assistance, the Victorian government has announce today that it has allocated $40 million from their Business Support Fund towards live venues, pubs, clubs and restaurants.
As reported by Beat Magazine, the venues eligible for the fund include those with an annual turnover of up to $50 million and who aren't covered by the Commercial Tenancy Relief Scheme, another initiative introduced in light of the current crisis.
On top of the support package, the government will be offering free mediation services through the Victorian Small Business Commission to all venues with a liquor licence, which should help alleviate any potential beef between tenants and their landlords.
In a statement to Beat, Music Victoria CEO Patrick Donovan expressed his relief towards the measures, saying “After staffing costs rent is the biggest cost for venues so we welcome this fund to ensure that these can be waived while venues are forced to close or operate under prohibitive restrictions."
The announcement comes after a turbulent week of news for Victorian venues, particularly driven by the Bendigo Hotel's call to arms for live music venues as well as that of the beloved Gasometer Hotel being put up for sale.
Find out more about the $40 million support fund at the Victorian Premier’s website.