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Find out everything you need to know about the latest Queensland Business Boost Grants including criteria, eligibility, how to apply and deadlines.
QLD Business Boost Grant Round 2
The Business Boost grants program provides support to small businesses to advance improvements in their efficiency and productivity. You may be eligible to receive a grant payment of $15,000 (excluding GST).
Please note applicants must also co-contribute to the project costs and funding will be paid after completion of the project and submitting the required documentation. The Program is competitive, meaning that applications are competitively assessed against the assessment criteria and not all applications will be funded.
The program is administered by the Department of Employment, Small Business and Training (DESBT).
What funding is available?
If successful, applicants will receive grant funding of up to $15,000 (excluding GST), and not less than $7,500 (excluding GST) on completing their proposed project.
Successful applicants must co-contribute 30% of the total project costs.
The grant-funded project must be in any of these 3 priorities:
- Future planning
For example: the business commissions a business plan based on evidence to assess diversifying its operations to meet potential growth opportunities and maximise financial returns.
- Specialised and automated software
The business is expanding quickly and needs a real-time inventory system to speed up operations and meet delivery expectations.
- Staff management, development and planning
The business is experiencing growth but is finding it challenging to attract staff, build skills and effectively manage the workforce. They commission a training program lasting at most 12 months to build the skills of their staff.
For a list of Non-eligible activities – click here.
Eligibility criteria
To be eligible for this grant, the business must:
- have fewer than 20 employees (by headcount);
- have an active Australian Business Number (ABN) and be registered for GST
- have Queensland headquarters
- have a turnover of between $300,000 (minimum) and $600,000 (maximum) in the last financial year (2021-22);
- have a publicly reachable web presence to identify business operations (e.g. business website and social media pages);
- not have been approved for funding under Round 1 of the Business Boost grant program and
- not be insolvent or have owners/directors that are an undischarged bankrupt.
Your business must be registered for GST and have headquarters in Queensland at all stages of the application process and maintain its eligibility for the duration of the grant funded activity.
To check your eligibility – click here.
How to apply
The grant will open for Registration of Interest applications at 9am, 12 August 2022 and close at 11.59pm, 19 August 2022.
Prepare by completing the following steps.
1. Read the key documents and information:
- application guidelines
- terms and conditions
- frequently asked questions
- preview of Registration of Interest form
- statutory declaration template (applicable for Stage 2 applicants only)
- choosing a supplier (applicable for Stage 2 applicants only)
2. Check your eligibility
3. Ensure your Australian Business Register profile for your business is up to date (check ABN status, GST status and main business location)
4. Review the sample ROI application form and prepare your answers for when ROI applications open at 9am, 12 August 2022.
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If you have any questions or would like to organise a meeting with an Accountant contact Crest Accountants today.
Disclaimer: The information contained in this news post is general in nature and is intended to provide a general summary only and should not be relied on as a substitute for professional advice. Whilst the information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact upon the accuracy of the information.
