QLD Small Business COVID-19 Adaption Grant Program
The Queensland Government has just announced the ‘Small Business Adaption Grant Program‘.
Queensland small businesses can now apply for a grant of up to $10,000 under a new $100 million package. The 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.
Applications are open now and will close when funding has been exhausted, applicants will need to act quickly.
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.
Available funding
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.
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.
Eligibility criteria
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.
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Need assistance and want to know more?
Contact Holmans today;
Holmans Noosa: (07) 5430 7600 or email info@holmans.com.au
Holmans Maroochydore: (07) 5451 6888 or email infohm@holmans.com.au
