The owner of Williamson Street's Ivy and Bloom can at least bank on a last-minute flower sales rush and home deliveries to offset some of her expected losses.

"There's nothing we can do about it," she said, adding that it was important people stayed COVID-safe.

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"The sales hit was going to happen to some extent anyway because Valentine's Day is on a Sunday, which always makes these sorts of days quieter."

Before the announcement, Ivy and Bloom had anticipated heavy foot traffic over the weekend.

That hope evaporated as nearly every business in the city centre closed, though some customers were still stopping by a makeshift stall and takeaway coffee shop operating out of the Complete Garden store.

Victorian businesses are coming to terms with another economic shock as widespread closures take effect.

It is not yet clear exactly how much damage will be but Ms Lyne is hoping the lockdown can be lifted next week.

Bendigo's economy is at least in a stronger position this time around than at the start of the second Victorian lockdown last July, consultancy group REMPLAN estimates.

The area's total economic output had almost returned to pre-pandemic levels by December - the latest period they have publicly released month-by-month tracking for, so far - after slumping by nearly 10 per cent in the depths of July.

Not everyone agrees regional Victoria should be shut down, including Liberal senator Sarah Henderson.

"There are currently no positive cases outside Melbourne ... many regional Victorians will be asking why we did not adopt the New South Wales model of only locking down areas of high risk," she said.

Meanwhile, Australia's small business and enterprise ombudsman Kate Carnell has said the Victorian government will need to urgently compensate small businesses forced to close.

"Small businesses such as florists and restaurants currently have their storage rooms packed with supplies, ahead of what they thought would be one of their busiest trading days of the year," she said.

"It is for this reason the Victorian Government needs to immediately announce a compensation package for affected small businesses who have lost stock such as flowers and food.

"The compensation should also cover all other costs associated with running a business including staff wages and rent.

"It is impossible for small businesses to plan for sudden lockdowns and the timing of this one - coinciding with Valentine's Day and Lunar New Year celebrations - could not be worse."

Premier Daniel Andrews on Saturday told reporters that he planned to have more to say about support for businesses "and others who have been negatively impacted by this absolutely necessary public health measure" at another time.

"I know it's not easy, and that is why there will be support there and I will have more to say," he said.

Mr Andrews said authorities had to move fast and did not have the time to establish a ring of roadblocks around Melbourne, like they did last year.

The snap lockdown across the entire state was needed because of the speed the UK strain could spread, and the risk of Melbournians trying to beat stricter restrictions by going to regional Victoria before a ring of steel could be set up.

This story was updated at 1.28pm with comments from Daniel Andrews about the government's response.