Government Grants available to assist new and growing businesses

As governments around the world consider how they can return to a more normal way of life and boost economies after the COVID-19 pandemic, the Queensland Government has announced three new small business grants programs.

Worth over $25 million over the next 2 years, these grants aim to target specific demographics and are being rolled out because of data collected from small business owners through the Small Business Roadshow which revealed that support programs were essential to assist Queensland businesses at different stages of their lifecycles.

For the business grants, only 1 application will be accepted from an individual ABN or a financial beneficiary of a business for consideration at any one time.

BUSINESS BASICS GRANT is intended to support new and emerging businesses to increase core capabilities and adopt current best practice with grants of $5,000, as long as the costs of the proposed project exceed $5,000. Applications open on May 31, 2021 and close on 30 June 2021 or until funds are exhausted.

The $5000 grant is subject to a competitive process and the successful recipients will receive the grant to:

• Access business training and coaching;
• Website build or upgrades;
• Professional business advice;
• Strategic marketing services;
• Business continuity and succession.

To be eligible, your business must:

• have fewer than 20 employees at the time of applying for the grant; 
• have an active Australian Business Number (ABN) and be registered for GST; 
• have a Queensland headquarters; 
• have a turnover of $300,000 or less for the current financial year;
• not be insolvent or have owners/directors that are an undischarged bankrupt

BUSINESS BOOST GRANT is intended to help small businesses to improve their efficiency and productivity through organisational development and upgrades through automated software and CRM systems. Grants can be used for website development and upgrades, strategic marketing, training and coaching, advisory services and planning for business continuity and succession. Successful applicants will be granted up to $15,000. Applications open in late July 2021 until the reserved funds are exhausted.

BUSINESS GROWTH FUND GRANT is intended to small and medium-sized businesses experiencing high-growth to buy specialised equipment to unlock growth potential, increase production, expand their workforce and maximise economic returns. Grants are up to $50,000 and opened for application on 11 May 2021. This grant will remain open until the funds are exhausted.

Find out more about the Business Basics Grant, Business Boost Grant and Business Growth Fund Grant, and how to apply for them here. Find out what grants may be available to you through the federal government here.

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