The theme for this year’s Small Business Month is to “bounce back better”, helping thousands of small businesses in Queensland through COVID-19 with three new grants: Business Basics, Business Boost and Business Growth, administered by the Department of Employment, Small Business and Training.
The Business Basics Program
The Business Basics grant program will provide support to businesses to increase core skills and adopt best practice. Eligible businesses will receive a fixed up-front payment of $5,000.
This support includes funded activities in 5 areas:
- Training and coaching
- Website build or upgrades
- Professional business advice
- Strategic marketing services
- Business continuity and succession
Applications open 31 May.
The Business Boost Program
The Business Boost grants of up to $15,000 will help small businesses to improve their efficiency and productivity through automated software and CRM system upgrades.
Applications open late July.
The Business Growth Fund Program
Business Growth Fund provides funding for small and medium sized businesses who are experiencing high growth to purchase specialised equipment to unlock growth potential, boost production, increase the workforce and maximise economic returns. Eligible businesses will receive a single up-front payment of up to $50,000 (it’s important to note that you must be able to fund at least 25% of project costs).
Funded businesses will be expected to:
- Increase confidence for growth, transitioning from small to medium-sized businesses
- Increase productivity, turnover, profit and employment by 20%
- Improve confidence to automate, scale up, increase market share, diversify and/or exploit exporting opportunities.
Applications open 11 May.
Interested in these grants?
If you are interested in these programs or unsure of your eligibility, our team of expert accountants are ready to help you. Get in touch today to get started.
Source: Business Queensland
