The Queensland Government has announced a new support grant for small businesses to help them develop aspects within their businesses. Previously, the QLD government launched several grants targeted towards businesses whose operations and finances were affected due to COVID-19.
Round 3 of the Business Basics Grants Program is set to open at 9am, on the 4th of May 2022 and will close once sufficient applications have been received for competitive assessment. With two streams available for businesses based in Southeast Queensland (SEQ) and regional Queensland – these streams may have different closing times, so it’s important to stay ahead of the grant terms.
What does the Business Basics Grant help with?
This grant is aimed at supporting businesses to increase their core skills and adopt best practices. It includes funds for five priorities;
- Training and coaching
- Digital services such as website creation or upgrades
- Professional business advice
- Strategic marketing services
- Business continuity and succession.
The Department of Employment, Small Business and Training (DESBT) is the administrating party of for the program.
SEQ and regional QLD funding available
This round of the Business Basics Grant has two funding options available, depending on what Local Government Area (LGA) businesses that are eligible are headquartered in. These LGAs are then grouped into Southeast Queensland or regional Queensland.
The grant allows for a single up-front payment of $5,000 (excluding GST) and is eligible for use for the five priorities stated above only. However, some terms still apply – the board has the right to refrain from funding activities with either:
- A total cost of less than $5,000 (excluding GST).
- Payments that are made before the date of approval, as you must have approval before you pay for a grant-funded activities.
Regional Queensland businesses must be headquartered in any local government area within QLD that isn’t identified as a SEQ location, while Southeast Queensland businesses are those whose principal place of business are located in one of the following LGAs:
- Brisbane City Council
- City of Gold Coast
- Ipswich City Council
- Lockyer Valley Regional Council
- Logan City Council
- Moreton Bay Regional Council
- Noosa Shire Council
- Redlands City Council
- Scenic Rim Regional Council
- Somerset Regional Council
- Sunshine Coast Council
- Toowoomba Regional Council.
To be eligible for this grant, your business must:
- Not have been approved for funding in round 1 or 2
- Have fewer that 20 employees when the grant is applied for
- Have an active Australian Business Number and be registered for GST
- Have a turnover of $300,000 or less during the current financial year#
- Have a headquarters in Queensland
- Not have any owners/directors who’re bankrupt or insolvent.
For more information, visit the Business Basics Grant webpage.
Our team at The Alternative Board has always strived to help businesses achieve their maximum, and to assist you through detailed proposals and applications, as well as investment advice. If you need assistance, don’t hesitate to get in touch.