The Allan Labor Government has launched a $4 million program to help revitalise Victoria’s multicultural business precincts, with funding aimed at boosting local trade and community life.
Announced on Monday, the Multicultural Business Precinct Revitalisation Program will provide grants of up to $250,000 per precinct. The program is designed to support improvements such as upgraded visitor spaces, signage, public art, and shopfront refurbishments.
Minister for Small Business and Employment Natalie Suleyman said the program recognises the value multicultural traders bring to the state’s economy and social fabric.
“From Box Hill to Springvale, Oakleigh to Footscray, St Albans and Richmond, our state’s multicultural businesses power our economy, creating jobs, trade and opportunities for generations to come,” Minister Suleyman said. “With this investment, we’re ensuring that the multicultural precincts Victorians love today will continue to flourish.”
The grants are part of a broader $17 million commitment by the Labor Government to support multicultural traders and precincts. Local councils are now encouraged to apply and propose projects that will help local businesses attract more foot traffic and improve community engagement.
Alongside the funding announcement, the government has launched what it says is a first-of-its-kind “Good Practice Guide” to assist councils in strengthening these areas. The guide includes practical suggestions ranging from pop-up activations and promotional campaigns to infrastructure upgrades and cultural festivals.
Minister for Multicultural Affairs Ingrid Stitt said the initiative builds on Victoria’s longstanding reputation as a diverse and welcoming state.
“Multicultural businesses are at the heart of our state’s vibrant diversity – which is why we are backing them to grow for decades to come,” she said. “This program recognises the vital contribution multicultural businesses make to our economy and community, and ensures they continue to celebrate Victoria’s rich diversity.”
Victoria is home to more than 718,000 small businesses, with more than half of them run by people with at least one parent born overseas. Government data suggests multicultural businesses play a vital role in creating jobs, fostering cultural exchange, and driving local economic growth.
The program comes at a time when small businesses across the state are still recovering from the challenges of the past few years, including the impact of the pandemic and ongoing cost pressures.
More information about the Multicultural Business Precinct Revitalisation Program and the Good Practice Guide is available at business.vic.gov.au
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