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RS COVID-19 Update: Small Business COVID-19 Adaptation Grant Program
The Queensland government has announced it will offer $100 million in grants to support businesses struggling due to COVID-19. The grants follow similar schemes in New South Wales and Victoria and will focus on assisting businesses who have had to temporarily close, restructure or pivot their operations.
The program aims to see small and micro businesses who have suffered closure due to or been highly impacted by coronavirus restrictions.
- 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 longer-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; and
- Create or retain employment.
Up to $10k per eligible business to be used towards:
- 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); and
- Meeting business costs, including utilities, rent.
Program will be open until $100mil in funds run out – first in best dressed! More than 25% of funds have already been accessed.
To be eligible, businesses 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 one-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 over $75,000 for the last financial year;
- Have a payroll of less than $1.3 million; and
- Not be insolvent or have owners/directors that are an undischarged bankrupt.
If you require assistance with applying for this program, please contact us on (07) 4638 1155 or reply to this email.