The QLD Government has announced details of a new grant for established small businesses: the Business Boost Grant. This grant is intended to assist businesses advance improvements in:
- Future planning,
- Specialised and automated software, and
- Staff management, development and planning.
What do you get?
The grant will provide approximately 70% of funding for eligible projects costing over $10,715 (excluding GST), up to maximum assistance of $15,000. The funding will be paid after completion of the project, upon the provision of a final report with supporting data.
- The remaining funding must be contributed by the business.
- Projects costing less than $10,715 will not be funded.
- Successful businesses will have 12 months to complete the project.
Who is eligible?
To be eligible for the Business Boost Grant, a business must demonstrate the following:
- Has fewer than 20 employees (by headcount) at the time of application,
- Has a Queensland headquarters,
- Has an active ABN & GST registration,
- Had a turnover of between $300,000 and $600,000 in the 2020/2021 financial year,
- Has a publicly reachable web presence to identify business operations (e.g. business website and/or social media pages), and
- Is not insolvent and no owners/directors are undischarged bankrupts.
The grant is awarded on a competitive assessment basis, not first come first served, and as a result, not all applications will be funded.
What projects are funded?
Examples of funded projects include:
- Strategic business planning for innovation or growth;
- Planning for exporting opportunities and requirements
- Design & implementation of software management systems;
- Cybersecurity tools
- Complex website design
- Digital workplace plans & systems for a remote workforce
Funding will NOT be provided for projects such as:
- Activities bought using cryptocurrency, or services in-kind,
- General operating costs such as year-end accounting or bookkeeping services, salaries, fleet vehicles,
- Goods, services or fees from related parties,
- Computer hardware
How to apply
Applications open online from 9am 30 July 2021 in the Department of Employment, Small Business and Training (DESBT) SmartyGrants portal.
Applicants must provide:
- Statutory declaration that the business meets the turnover and other eligibility criteria
- Supplier quotes (max, 2) detailing cost & description of services
There will be no opportunity to provide additional information.
Want to know more?
Further details can be found on the Business Queensland website at: https://www.business.qld.gov.au/starting-business/advice-support/grants/business-boost.
If you have any questions about the grant or require assistance to apply, please speak with our specialists to discuss what the next year could look like for your business and personal financial goals
