Applications are now open for the Queensland State Government’s Small Business Adaption Grant.
The purpose of the grant is to help small businesses in Queensland to adapt and sustain their operations and build resilience.
How much can you apply for?
Each eligible business can apply for a grant between $2,000 and $10,000.
What can the grant be used for?
The grant funds can be used towards the following activities:
- financial, legal or other professional advice;
- strategic planning, financial counselling or business coaching;
- marketing and communications activities, such as content development (eg. web pages, mobile apps, visual and audio media);
- 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;
- meeting business costs (eg. utilities, rent).
Eligibility criteria
To be eligible, the small or micro business must:
- have been subject to closure or otherwise highly impacted by COVID-19;
- demonstrate business revenue has had a decline of at least 30% over a one month period;
- employ staff and have fewer than 20 employees at the time of applying;
- have a valid ABN (active 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 undischarged bankrupt.
Where to apply?
You can apply now at: https://www.business.qld.gov.au/starting-business/advice-support/grants/adaption?fbclid=IwAR0rbYUVlB1RRN-KwA4yQgADTOUPj1j0gyouBS56S-Tn1SN5Ng3R0EnobuE
Applications will close when the funds have been exhausted.
DISCLAIMER: The information in this article is general in nature and is not a substitute for professional advice. Accordingly, neither TJN
Accountants nor any member or employee of TJN Accountants accepts any responsibility for any loss, however caused, as a result of reliance on this general information. We recommend that our formal advice be sought before acting in any of the areas. The article is issued as a helpful guide to clients and for their private information. Therefore it should be regarded as confidential and not be made available to any person without our consent.
Jeanette has over 20 years experience as an accountant in public practice. She is a Chartered Accountant, registered tax agent and accredited SMSF Association advisor. When she is not helping business owners grow their empires, you will likely find her out running on the trails or at the gym. Book in to see Jeanette today.
