Funding support now available for regional small business

Are you a new business start-up? Embarking on a new business journey is exciting and rewarding, however, often highly capital intensive. In recognition of this, and to help you get a head start on success, the Queensland Government has announced funding available for small businesses based in regional Queensland, under their Business Basics Grants Program.

The program is aimed at sole traders and businesses with a turnover of up to $300,000, seeking to support new and emerging businesses to increase core capabilities and adopt best practice. As an outcome of the program, you can expect increased confidence across core skills, boosted turnover, profit and employment as well as improved business survivability and resilience.

What can be claimed?

Eligible applicants will receive a single up-front fixed grant payment of $5,000 (excluding GST), to support activities in 5 priority areas. Eligible activities include the following:

1. Training and coaching

  • Business development, human resources, business planning, marketing
  • Training or coaching

2. Website build or upgrades

  • Adding e-commerce
  • Website build or upgrade
  • Developing new website content

3. Professional business advice

  • Business plans

4. Strategic marketing services

  • Strategic marketing plans including search engine optimisation advice

5. Business continuity and succession

  • Cyber-safety training and tools
  • Business continuity or succession plans.

Who is eligible?

Eligible applicants will be those who meet the following criteria:

  1. Be headquartered in Queensland, and be based in regional Queensland.
  2. Have fewer than 20 employees at the time of grant application.
  3. Have an active Australian Business Number (ABN) and be registered for GST.
  4. Have a turnover of $300,000 or less for the last financial year (2020-21).
  5. Not have been approved for funding under Round 1 of the Business Basics program.
  6. Have owners/directors that are not insolvent or an undischarged bankrupt.

Grant applications will be assessed on the extent to which the grant funded activity will positively impact revenue growth and gross profit, enhancement of your business’s core skills and adoption of best practice, as well as likelihood of creating employment growth within the business.

Applications for Round 2 are now open, on an ongoing basis until funds are fully allocated.

Further information about the Business Basics Grants Program and a list of eligible LGAs can be viewed on the Queensland Government Program website:

For assistance in determining your eligibility and support to submit a compelling application, please contact your usual Mazars Advisor or alternatively, our financial advisory specialist Angela Winton via the form below.

Brisbane

Melbourne

Sydney

+61 7 3218 3900

+61 3 9252 0800

+61 2 9922 1166

 

Author: Holly Willmore

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Published: 15/09/2021

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