QLD Announces Small Business Adaption Grant Program
The Queensland Government has announced this week $10,000 adaption grant program, designed to help prepare small and micro businesses to get back on their feet post COVID-19.
The program is designed to support the development of online opportunities, embrace business diversification and to sustain ongoing operations, given the change in business landscape as a result of the pandemic.
The Grant is only open to the first 10,000 applicants.
How will it help?
The funding aims to help small and micro businesses in the following ways:
- Prepare for the safe trading post COVID-19
- Utilize online opportunities to sustain employment and maintain potential for long term growth
- Embrace business diversification to adapt and sustain operations ongoing
- Create or retain employment
- Upskill and reskill businesses owners and employees to benefit from new technology and business models
Are you eligible?
To qualify, Queensland businesses must:
- Have been significantly impacted by the current shutdown restrictions
- Demonstrate business revenue has been significantly impacted over a 1-month period
- Employ staff and have fewer than 20 employees
- Have a valid ABN
- Be registered for GST
- Have QLD headquarters
- Have an annual turnover of over $75,5000 for the last financial year
- Have payroll less than $1.3 million
- Not be insolvent
Only 1 application will be accepted from individual ABN or financial beneficiary of a business.
Further requirements and more information can be found on the QLD Business website here.
What can the funds be used for?
- Financial, legal or other professional advice
- Strategic planning, financial counselling and business coaching
- Digital/technological strategy development
- Digital training or retraining to help adapt to new business models
- Capital costs related to safe practice requirements
- Specialized digital equipment
- Meeting business costs (such as utilities and rent)
- Building business through marketing and communication activities
How do I apply?
Click through to the SmartGrants portal here.
Want to learn more?
Our team are working hard to provide you with tools and information to keep you up to date on Government stimulus measures. To review our latest materials on COVID-19, please click here.
Below are some articles that may interest you:
- JobKeeper Package Update: How to Apply
- JobKeeper Payment: Relief for Employers and Employees
- Are you entitled to the Federal Government Stimulus Package
Your Modoras team of professionals are working from home or in our offices accross the country to assist you in making well-informed business decisions; contact us on 1300 888 803 to book a catch up with a Modoras professional.
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