In what could be great news for retailers in Victoria, the state government has announced a new initiative to support small businesses.

The first ever Support Small Business Day will be held on October 19, and will aim to boost trade for local small businesses in the state through a dedicated ‘shopping day’.

“On Support Small Business Day, Victorians will be encouraged to purchase from small businesses across the state, including retailers, cafes, restaurants and service providers,” said state minister for innovation, services and small business Louise Asher.

This might be a great opportunity for businesses to update their strategies and retail design in order to make their store stand out from others in the area, as retailing in Australia is a very competitive market.

“There are more than half a million actively trading small businesses in Victoria. This initiative will connect consumers with local traders and showcase the vital role small businesses play within our communities,” said Ms Asher.

Furthermore, in order to encourage shoppers to take part in the event National Australia Bank will be offering $100,000 of shopping vouchers as an incentive.

This is just one of the many initiatives that the state government has made available to support the small businesses and retailers in the state. Other schemes include the $6 million Streetlife program and the Small Business Festival which is held in August.

Ms Asher stated that through these programs, the government is “further raising the profile of Victoria’s vibrant small businesses”.

Small businesses are an integral part of the Victorian economy, and currently accounts for almost half of all private sector jobs. Initiatives such as these are very welcomed in order to provide support to keep small businesses running and thriving.

Retailers that would like to participate in Support Small Business Day will need to register with local councils by August 12.