Great news for our Queensland-based business clients! Round 2 of the 'Small Business COVID-19 Adaption' grant program opens on 1 July 2020, and up to $10,000 of funding can be used for business coaching, transitioning to online business models in the wake of COVID-19.
The Queensland Government is extending the 'Small Business COVID-19 Adaption Grant Program' and up to $100 million is being made available to deliver a second round of grants, with half of this funding specifically earmarked for regional small businesses located outside of South East Queensland. For round 2, funding is being equally divided between regional Queensland and South East Queensland, which is a coup for regional businesses.
The objective of these grants is to support small businesses to adapt, sustain their operations and build resilience by helping small and micro businesses based in Queensland to:
prepare for the safe resumption of trading post COVID-19 recovery phase
continue to meet operating costs
access digital technologies to rebuild business operations and transition to a new way of doing business
respond to online opportunities to sustain employment and support longer-term growth
upskill and reskill business owners and staff to benefit from new technologies or varied business models
embrace business diversification to adapt and sustain operations
create or retain employment.
The other great news is that the grant funds can be used towards any of the above activities occurring from 23 March 2020 onwards, albeit the project must be completed within 6 months from the date of approval of the grant.
What can be funded?
The grant funding available has a minimum of $2,000 and a maximum of $10,000 per business, and it can be used for the following things:
building the business through marketing and communications activities (e.g. content development – web pages, mobile apps, visual and audio media etc.)
digital training or re-training and up-skilling employees to adapt to new business models
financial, legal or other professional advice to support business sustainability and diversification
continuing to meet business operational costs including utilities, council rates, rent, telecommunication charges, insurance fees, licensing or franchise fees
capital costs associated with meeting COVID-19 safety requirements
specialised digital equipment or business specific software to move business operations online (e.g. logistics program for online ordering).
To be eligible for this grant, your business must meet the following eligibility criteria:
have been subjected to closure or otherwise highly impacted by current shutdown restrictions announced by Queensland's Chief Health Officer on 23 March 2020
be able to demonstrate that you have experienced a minimum of 30% decline 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 (employees must be on your payroll and does not include the business owner(s))
have a valid ABN active as at 23 March 2020
be registered for GST
have a Queensland headquarters
have an annual turnover over $75,000 for the 2018/19 or 2019/20 financial year, or be able to provide financial records that show this will be met for recently started small businesses
have a payroll of less than $1.3 million
not be insolvent or have owners or directors that are an undischarged bankrupt.
The Queensland Government has advised that the grant applications will be assessed on a 'first come, first served' basis. Get in quick.
Want Expert Help?
Business Agility is here to help Queensland small businesses take advantage of this great opportunity. We can design a customised business coaching program or business improvement program, aligned to both your business goals and the Queensland Government's grant guidelines. Deb Banning, Director and Co-Founder of Business Agility, used to work for the Queensland Government and was responsible for managing a number of grant funding portfolios. She designed a number of grant criteria assessment tools, which were rolled out state-wide within the Queensland Government and also managed the allocation of grant funding to economic development bodies, businesses and business advisors.
Leverage our expertise to support your grant application. Contact us now and schedule your FREE initial consultation.