The Queensland Government has announced the Small Business Adaption Grant Program to assist businesses affected by COVID-19 to adapt and sustain their operations and build resilience.
The Program aims to see small and micro 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.
The grants of up to $10 000 can be used for:
- financial, legal or other professional advice to support business sustainability and diversification;
- strategic planning, financial counselling or business coaching aligned to business sustainability and diversification;
- building the business through marketing and communications activities, such as content development (web pages, mobile apps, visual and audio media etc.);
- 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 (e.g. logistics program for online ordering); and
- meeting business costs, including utilities, rent.
To be eligible for this grant, the small or micro business must:
- have been subject to closure or otherwise highly impacted by the shutdown restrictions announced by Queensland’s Chief Health Officer on 23 March 2020;
- demonstrate that business revenue has experienced a significant decline since 23 March 2020 over a minimum one-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; and
- not be insolvent or have owners/directors that are an undischarged bankrupt.
For those businesses not subject to closure the Queensland Small Business Hotline indicated to us they consider businesses to be highly impacted if they have experienced a drop in income of at least 30% over a minimum one month period since 23 March compared to the same period as last year.
No specified closing date for the grants has been listed as they will close the program when the funding is exhausted, so if you want to apply we recommend you submit your applications as soon as possible.
If you would us like to help you in applying for a grant, then contact us today. Further details are available on the Business Queensland website or by contacting the Queensland Small Business Hotline on 1300 654 687.