Second round of $10,000 grants announced
Today Queensland’s Minister for Small Business Shannon Fentiman announced an additional $100 million to fund the second round of grants for small business, with half of the funds allocated for even distribution to small businesses across regional Queensland.
Since the first round was exhausted within days, we have been advocating and working with the government to open up a second-round and are pleased to see this support come today.
Additionally, they have heard our feedback and are giving you more time to prepare your applications, with round 2 opening for submissions on July 1.
Small Business COVID-19 Adaption Grant ProgramThe objective of this program is to support small businesses subject to closure or highly impacted by the coronavirus (COVID-19) shutdown restrictions announced by the Queensland Government, to adapt and sustain their operations, and build resilience. The $100 million support package includes $96 million in Small Business Adaption Grants and $4 million in new training for business. More information on this will be available soon.
The available grant amount is up to a maximum of $10,000 per eligible small or micro business. In recognition of the significant impacts of COVID-19 on small businesses, the funding can be used towards the following:
- financial, legal or other professional advice to support business sustainability and diversification
- strategic planning, financial counselling or business coaching aligned to business development and diversification
- building the business through marketing and communications activities, for example, content development (web pages, mobile apps, visual and audio media etc.)
- digital/technological strategy development
- digital training or re-training to adapt to new business models
- capital costs associated with meeting COVID-19 SAFE requirements
- specialised digital equipment or business specific software to move business operations online (e.g. logistics program for online ordering)
- meeting business costs, including utilities, rent.
Note: Grant funds can also be used towards any of the above activities occurring from 23 March 2020 onwards, keeping in mind the project must be completed within a maximum of 6 months from the date of approval.
The program aims to see small and micro businesses:
- prepare for the safe resumption of trading in the post COVID-19 recovery
- access digital technologies to rebuild business operations and transition to a new way of doing business
- respond to online opportunities, where possible, to sustain employment and maintain potential for longer-term growth
- upskill and reskill business owners and staff to benefit from new technologies or business models
- embrace business diversification to adapt and sustain operations
- create or retain employment.
To be eligible, the business must:
- have been subject to closure or otherwise highly impacted by current shutdown restrictions announced by Queensland's Chief Health Officer on 23 March 2020
- demonstrate that business revenue has been significantly impacted since 23 March 2020 over a minimum 1-month period due to the onset and management of COVID-19
- employ staff and have fewer than 20 employees at the time of applying for the grant
- have a valid Australian Business Number (ABN) active as at 23 March 2020
- be registered for GST
- have a Queensland headquarters
- have an annual turnover over $75,000 for the last financial year
- have a payroll of less than $1.3 million
- not be insolvent or have owners/directors that are an undischarged bankrupt.
- Only 1 application will be accepted from an individual ABN or a financial beneficiary of a business.
Successful applicants cannot reapply for funding under this grant program.
Once the program budget has been fully allocated, applications for the program will close. It is estimated that approximately 10,000 small businesses will be supported through this program.
Applying small and micro businesses must meet the eligibility and assessment criteria to be considered for funding.
For information on other Queensland Government grants and assistance programs that may help your business click here.