The Queensland Government has announced an extension to the Small Business Adaption Grant Program. Up to $100 Million is being made available to deliver a second round of grants.
The objective of the program is to support small businesses that were subject to closure or highly impacted by the COVID-19 shutdown restrictions.
The program aims to see small 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 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 $10,000 is available. If you believe you are eligible, RWG can assist you with this process if necessary. Successful applicants from round one of this program cannot apply for funding under round two. If you have submitted a round one application but haven’t heard back yet, you are eligible to apply for round two.
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 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
Applications for the grant will be opened on 1 July 2020. We expect, like round one, applications will close quite quickly so it is important to get all the information required to submit your application ready now. Contact us as soon as possible if you require assistance.
More information can be found here.
If you have any concerns or require any further assistance, please do not hesitate to contact us.