Business Boost Grants Program

On 30 July, the new Business Boost grants program will open as part of the Palaszczuk Government’s COVID-19 Economic Recovery Plan.

Eligible Queensland small businesses need to review eligibility criteria, project conditions and the application process NOW, in preparation for individual grant submissions. The grant will be competitively assessed and will only be available until funds are exhausted.

The new Business Boost grants seek to help fast-track a business’ plans to improve their efficiency and productivity. Grants of up to $15,000 each can be used for upgrades and organisational improvements for established businesses. This could include activity such as website development and upgrades, strategic marketing, training and coaching, advisory services and planning for business continuity and succession.

 

Key Information

Eligible business size:Small business
Status:Pre-launch
Opening Date:30 July 2021 at 9am
Closing Date:When funds are exhausted

The Business Boost grants program provides support to businesses to advance improvements in their efficiency and productivity. This support includes funded activities in 3 project areas:

  • Future planning
  • Specialised and automated software
  • Staff management, development and planning

 

Available Funding

You may be eligible to receive a grant payment of up to $15,000 (excluding GST) on completing your proposed project.

Successful applicants must co-contribute at least 30% of the total project costs.

Grant funding will be paid only after compliant acquittal documentation is received.

Projects which are ineligible for funding:

  • a total cost of less than $10,715 (excluding GST)
  • payments made before the approval date (you must be approved before you pay for grant-funded project activities).

 

AreaMinimumMaximum
Total project costs (excluding GST)$10,715$21,429*
Your contribution (at least 30% of total project costs)$3,215$6,429*
Grant funding (post project)$7,500$15,000

*Your project can cost more than $21,429 but the maximum amount the Department of Employment, Small Business and Training (DESBT) will contribute is $15,000.

 

Eligible Project Activities

Future planning

  • Strategic business planning for innovation or growth
  • Implementing a governance board to guide strategic planning
  • Exporting opportunities and requirements
  • Compliance with industry regulations and standards

Specialised and automated software

  • Design and implementation of management systems, including:
    • data warehouses
    • asset management
    • customer relationship management systems
    • quality and compliance management
    • risk management
    • production systems
    • project management systems
  • Bespoke or complex website design and build, including e-commerce, software integration, booking systems
  • Cybersecurity tools
  • Innovative technology that improves or diversifies service offerings

Staff management, development and planning

  • Human resource management skills building
  • Professional development and training
  • Digital workplace plans and systems for a remote workforce

 

Ineligible Project Activities

Ineligible activities include:

  • activities purchased using cryptocurrencies, barter or services in-kind
  • general business operating costs (e.g. bookkeeping/accounting, tax returns)
  • real estate/property, hire, lease or rental fees
  • goods, services or fees from related parties (include companies with common shareholdings, directors, employees or immediate family)
  • travel
  • purchase of stock
  • and much more – the full list of ineligible activities can be found here.

 

Eligibility Criteria

To be eligible for this grant, your business must:

  • have fewer than 20 employees at the time of applying for the grant
  • have an active Australian Business Number (ABN) and registered for GST
  • have Queensland headquarters
  • had a turnover of between $300,000 (minimum) and $600,000 (maximum) in the last financial year (2020–21)
  • have a publicly reachable web presence to identify business operations (e.g. business website and/or social media pages)
  • not be insolvent or have owners/directors that are an undischarged bankrupts.

Applications open at 9am on Friday 30 July 2021. The application form will be available on this date.

Applications will close when enough applications are received for competitive assessment.

Note: This grant program is competitively assessed. Not all applications will be funded.

For more information or to determine if you are eligible please contact us on 1800 618 800 or email admin@simmonslivingstone.com.au

 

*Source: https://www.business.qld.gov.au/starting-business/advice-support/grants/business-boost 



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