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$10K small business grants now available

May 22, 2020

Grant closed

Due to an overwhelming number of applications, the Queensland Government has now closed the Small Business COVID-19 Adaption Grant for new applications.

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As part of its Economic Recovery Strategy, the Queensland Government has released a $10K grant to assist small businesses that have been significantly impacted by COVID-19 shutdown restrictions.  The 2020 Small Business Adaption Grant is designed to help small businesses to adapt and sustain their operations, and build resilience going forward.

Applications will be considered on a “first in, first assessed” basis until all allocated funding has been exhausted.  With 5,947 applications submitted, and 60% of funds already requested*, eligible small business owners should act now to avoid missing out.

Funding

Eligible small and micro businesses may be offered up to $10,000 as part of the grant.  The program is expected to assist 10,000 small businesses. 

Funding may be used in the following ways:

  • 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.

Note: Grant funds can also be used towards any of the above activities occurring from 23 March 2020 onwards, keeping in mind the project must be completed within a maximum of 6 months from the date of approval.

Funds will be distributed when an application is approved.

Grant recipients must complete and submit an acquittal report through SmartyGrants and copies of supplier invoices and proof of purchase for the total project cost within a month of completion.  To ensure information provided is true and correct, grant recipients may also be subject to a random audit by DESBT (Department of Employment, Small Business and Training).  Findings of false or misleading information may result in partial or total refunding of the grant funding to DESBT.

Eligibility

To be eligible for the fund, a business must:

  • have been subject to closure or otherwise highly impacted by current shutdown restrictions announced by Queensland’s Chief Health Officer on 23 March 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 of 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.

Only one individual ABN or financial beneficiary of a business will be accepted.  Successful applicants may not reapply for additional funding under this grant program. 

Applying

Applicants who meet the eligibility criteria may apply through the SmartyGrants link.

The Queensland Government has provided further details on their website for application guidelines, terms and conditions and frequently asked questions (FAQs).

Submissions are now being accepted, and will close at 5:00PM 30 June 2020 (AEST).

Assessment process

In addition to meeting the eligibility criteria, applications will be assessed against the following:

  • funding availability – applications will be processed on a ‘first come, first served’ basis, and therefore not all applications will be successful
  • submission of a complete application form, with all requested supporting documentation included (i.e. your application must contain the requested supporting documentation, otherwise you will be contacted to provide appropriate evidence and this may delay your application’s progress)
  • value for money, as determined by DESBT.

We are here to help

For more information about the program or assistance with the application process, please contact our team on 07 3217 2477.

 

* Correct as at 8:00am AEST on Friday 22 May 2020