The Business Basics Grant Closed But There’s One Grant Still Available For Some Businesses

The Queensland Government has been rolling out various grants to help small businesses stay up and running following the effects of the pandemic. Though these grants are applicable to small businesses only, their eligibility criteria and the funds they provide make each one different from one another.

One available grant is the Small Business COVID-19 Adaption Grant Programme. The primary aim of this grant is to provide funds to small businesses that were affected by the lockdown restrictions and to those on the verge of closure due to COVID-19. The funds are being provided to adapt and sustain their operations, and to build resilience.

The grant aims to see small businesses:

• Prepare for the safe resumption of operations in the post COVID-19 recovery period
• Continue to meet operating costs
• Partially shift to digital technology as a new way of doing business and to rebuild business operations
• Create jobs or retain previous employees
• Upskill or re-skill team members and owners to adapt to and benefit from new technology or business model
• Be open to business diversification to adapt and sustain operations.

Who can apply?

Note: This grant is only open for regional Queensland businesses – meaning your principal place of business must be in a local government area within Queensland that doesn’t identify as a South East Queensland location.

To be eligible for this grant, your business must:

• Have been highly impacted by the lockdown restrictions imposed by the Queensland’s Chief Health Officer on 23rd March 2020, or have been subject to closure
• Have experienced a minimum 30% decline since 23rd March 2020, over a period of at least one month due to COVID-19
• Have less than 20 employees at the time of applying for the grant
• Have a valid Australian Business Number (ABN) active as of 23 March 2020
• Be registered for GST
• Have headquarters based in Queensland
• Have a minimum annual revenue of $75,000 for the 2018-19 or 2019-20 financial year, or if this is not applicable to you, you can provide financial records which state that these will be met for recently started businesses
• Have a payroll of less than $1.3 million
• Not be in debt or have owners or directors that are an undischarged bankrupt

What will be funded?

This programme provides a minimum of $2,000 and up to a maximum of $10,000 per eligible small or micro business, which can be used towards the following:

• Legal, financial or other professional advice to support business operations
• Continuing to meet business operational costs
• Capital costs associated with meeting COVID-19 safety requirements
• Building business through marketing and communications
• Digital training or re-training and up-skilling employees to adapt to new business models
• Strategic planning, financial counselling or business coaching that will aid business development and diversification
• Advanced digital equipment or business specific software that allows business operations to take place online.

It is crucial to note that meeting the eligibility criteria does not guarantee a spot at being awarded this grant. Applications for the grant will be assessed based on a ‘first come, first served’ basis; all applications will not qualify. Grants are subject to the availability of funds, submission of the application form along with all necessary supporting documents, and value for money, as decided by the Queensland Government.

Additional guidelines for the grant can be found on the Small Business COVID-19 Adaption Grant Programme’s webpage.

Our team at The Alternative Board helps small businesses with grants and proposals, as well as investment guidance. If you need assistance, make sure you get in touch.