19 May Small Business Adaption Grant Program
Small Business Adaption Grant Program
The Small Business Adaption Grant Program is designed to support small businesses subject to closure or highly impacted by the COVID-19 shutdown restrictions announced by the Queensland Government, to adapt and sustain their operations, and build resilience.
The program aims to see small and micro businesses:
- Prepare for the safe resumption of trading in the post-COVID-19 recovery
- Access digital technologies to rebuild business operations and transition to a new way of doing business
- Respond to online opportunities, where possible, to sustain employment and maintain potential for long-term growth
- Upskill and reskill business owners and staff to benefit from new technologies or business models
- Embrace business diversification to adapt and sustain operations
- Create or retain employment.
The available grant amount is up to a maximum of $10,000 per eligible small or micro business.
In recognition of the significant impacts of COVID-19 on small businesses, the funding can be used towards the following:
- 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.
Once the program budget has been fully allocated, applications for the program will close. It is estimated that approximately 10,000 small businesses will be supported through this program.
Applying small and micro-businesses must meet the eligibility and assessment criteria to be considered for funding.
To be eligible, the 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 1 application will be accepted from an individual ABN or a financial beneficiary of a business.
Successful applicants cannot reapply for funding under this grant program.
Applying for the grant
To apply, complete the following steps:
- Read the eligibility criteria
- Read the application guidelines and terms and conditions
- Apply using the SmartyGrants
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 serve 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.
Funding will be paid upon approval of your grant application.
Within one month of completing the project, applicants must:
- Complete and submit an acquittal report through SmartyGrants
- Submit copies of supplier invoices and proof of purchase for the total project cost.
Grant recipients may be subjected to a random audit by DESBT to ensure that the information provided is true and correct. Where it is found that false or misleading information has been provided, penalties may apply, including refunding to DESBT some or all of the grant funding.
For more information and advice about applying for the Small Business Adaptation Grant Program, contact Simmons Livingstone & Associates today on 1800 618 800 or send us an email email@example.com.