The establishment of the VBRF was launched in March 2009, with a commitment of $500,000 from the Victorian State Government, and was very quickly put into operation as a direct response to the devastation caused by the Victorian bushfires in February 2009.

VECCI undertook a comprehensive fundraising campaign to raise funds for the VBRF.  By 30 June 2009, the VBRF had received donations of $791,703 from over 28 donors.  Thanks to the many businesses that provided their generous support, VECCI was able to donate funds to assist over 200 businesses with grants ranging from $1,500 to $5,000.