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.
