Volta venue owner Zac Hill said he was unsure of what to expect from the day of mourning.

"It is a very unique situation and I think, if anything, it will be interesting."

He said people typically did not go away on grand final weekend but they also did not typically go out to venues on the day of the grand final, unless they were going to watch the football.

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Ballarat Regional Tourism chief Sarah Myers said it was hard to judge the tone of the day.

"We do not know yet if the additional tourism opportunities will equal the increased operating costs of the public holiday."

In addition to this there have been a number of disrupted AFL grand final weekends with COVID-19 restrictions, so it is hard to say what kind of weekend it will mean for Ballarat businesses.

Owners will need to pay an additional set of public holiday wages and are now going through the process of deciding if they will stay open.

The Comfort of Strangers director Torquil Neilson said he had not decided if he would open next Thursday yet.

"Anecdotally no one is smashing it at the moment and that has been the case all year around town," he said.

With the Omicron variant keeping 30 per cent of the population isolating and fuel prices increasing prices across the board, he said this year had been difficult.

Mr Neilson said there would need to be a big day of trading on Thursday to warrant tripling the wages bills.

Commerce Ballarat chief executive Jodie Gillett said marking the day was important but would also strain businesses.

"The Queen has been an amazing woman and it is important that we respect her passing," she said.

"Seventy years is something that no one will ever see again."

READ MORE: From The Courier's archives: Pictures of the Queen in Ballarat

But additional public holidays are difficult for businesses.

While it is up to each business to decide if they are going to open, Ms Gillett said passing on the increased cost with a surcharge would help businesses stay open.

"The alternative is they close and that has a really detrimental effect on our tourism."

Her advice for businesses is to make it really clear there would be a surcharge.

"Most people seem to understand and I think our community has been incredibly supportive."

Ms Gillett said next Thursday might look different, revolving around a day of mourning and respect.

But she said the rest of the weekend would be a great opportunity to promote tourism and visitation.

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