There are a variety of Queensland Government Grants that will become available in the near future for small businesses to take advantage of. Last month, 3,000 applications were submitted before 1pm on the same day of opening for the Business Basics Grant. It is important to prepare your application and have it ready for submission, as we have seen how quickly the allocation can be exhausted with government grants.
Below is an overview of what we know so far on upcoming small business grants in Queensland.
Government Grants Business Growth Fund Program – Now Open
This program provides funding for small to medium businesses experiencing high growth. The funding is intended to assist with the purchase of specialised equipment for the purpose of increasing production, expanding your workforce and maximising economic returns. Businesses may be eligible for a payment of up to $50,000, however you need to fund at least 25% of the project costs to buy and implement the specialised equipment. The equipment must have a direct link to increasing employment and maximising returns.
For more information on eligibility and applying for this program, go to https://www.business.qld.gov.au/starting-business/advice-support/grants/growth-fund.
The closing date for this program is: when funding is exhausted.
Small Business – Business Boost Grant (Upcoming)
The Business Boost grant is set to launch in mid July 2021, and is offering a funding amount of up to $15,000. More information on eligibility and applications will be released in mid July 2021 with applications expected to open late July 2021.
The closing date for this program is yet to be confirmed.
Small Business COVID-19 Adaptation Grant (Round 2 Open – Regional QLD)
This program provides funding ($2,000 – $10,000) to support regional businesses who have been subject to closures, or have otherwise been negatively effected by COVID-19 shutdowns and restrictions. This program seeks to create and retain employment, upskill and re-skill business owners and staff, while also helping businesses adapt and build resilience.
Small businesses in regional Queensland may be eligible for this grant if they:
- have been subject to closure or otherwise highly impacted by current shutdown restrictions
- have experienced a minimum 30% decline 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 ABN active as at 23 March 2020
- are registered for GST
- have a Queensland headquarters that is not identified as a South East Queensland location
- have an annual turnover over $75,000 for the 2018–19 or 2019–20 financial year, or you can provide financial records that show this will be met for recently started small businesses
- have a payroll of less than $1.3 million
- are not insolvent or have owners or directors that are an undischarged bankrupt
Go to https://www.business.qld.gov.au/starting-business/advice-support/grants/adaption for more information around eligibility and the application process for this program.
We provide a range of tailored services to assist small business owners to implement strategic planning in their business, many of which are eligible for the Grant Funding. If you want to discuss your needs further and how best we can help, please contact our office.
If you intend on applying for a Government Grant, please contact our office to ensure your submission is ready to go before applications open.