The Queensland Government have recently announced new grants to help Queensland small businesses continue to recover and grow.
Small Business – Business Basics Grant – $5,000
The Business Basics grant provides up to $5,000 to help businesses increase core skills and adopt best practice.
Activities financed:
The grant will fund activities from one of the following priorities:
- Training and coaching
- Website build or upgrades
- Professional business advice
- Strategic marketing advice
- Business continuity and succession planning.
Eligibility:
To be eligible for the grant, your businesses must:
- have fewer than 20 employees at the time of applying for the grant;
- have an active ABN and be registered for GST;
- have a Queensland headquarters;
- have a turnover of $300,000 or less in the current financial year;
- not be insolvent or have owners/directors that are an undischarged bankrupt.
Key details:
- Funding available: up to $5,000
- Opens: 31 May 2021
- Closes: When funds are exhausted or 30 June 2021 (whichever is first)
To apply (and for more details) go to: https://www.business.qld.gov.au/starting-business/advice-support/grants/business-basics-grant
Business Growth Fund – $50,000 to purchase specialised equipment
The Business Growth Fund provides businesses with a single upfront payment of $50,000 (excluding GST) to buy specialised equipment.
Businesses that receive the grant are expected to:
- increase confidence for growth, transitioning from small to medium-sized
- increase productivity, turnover, profit and employment by 20%
- improve confidence to automate, scale up, increase market share, diversify and/or exploit exporting opportunities.
Key details:
- Funding available: Up to $50,000 (excluding GST)
- Applicant commitment: To fund at least 25% of project costs to buy and implement the specialised equipment
- Opened: 11 May 2021
- Closes: When funds are exhausted
To apply (and for more details) go to: https://www.business.qld.gov.au/starting-business/advice-support/grants/growth-fund
Small Business – Business Boost Grant – $15,000
The Small Business – Business Boost Grant is set to open mid-July 2021.
For more details go to: https://www.business.qld.gov.au/starting-business/advice-support/grants/schedule
DISCLAIMER: The information in this article is general in nature and is not a substitute for professional advice. Accordingly, neither TJN Accountants nor any member or employee of TJN Accountants accepts any responsibility for any loss, however caused, as a result of reliance on this general information. We recommend that our formal advice be sought before acting in any of the areas. The article is issued as a helpful guide to clients and for their private information. Therefore it should be regarded as confidential and not be made available to any person without our consent.
Jeanette has over 20 years experience as an accountant in public practice. She is a Chartered Accountant, registered tax agent and accredited SMSF Association advisor. When she is not helping business owners grow their empires, you will likely find her out running on the trails or at the gym. Book in to see Jeanette today.
