Small businesses in Queensland can now apply for grants worth up to $10,000 under a new $100 million support package announced this week by the Queensland Government.
The COVID-19 Adaption Grant Program has been developed to assist those small businesses forced into hibernation, to restructure or to significantly change their business operations or move online.
Please note the funding is available on a ‘first come, first served’ basis, once the program budget has been fully allocated, applications for the program will close.
Due to 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
Grant funds can be used towards any of the above activities occurring from 23 March 2020 onwards, keeping in mind the activity must be completed within a maximum of 6 months from the date of approval. Successful applicants cannot reapply for funding under the grant program.
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 23/3/ 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.
Applying for the grant
To apply by using the SmartyGrants link click here.
If you have any questions or would like to organise a meeting with an Accountant to apply for the COVID-19 Adaption Grant Program please contact us.