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15 May 2020

Queensland State Government Announces $100m in Grants for Micro and Small Businesses

 

Small businesses in Queensland can now apply for an additional grant of $10,000. The Adaption Grant is intended to aid businesses as they shift their product/service delivery to online and adapt to other challenges that have arisen due to the COVID-19 pandemic.

Shannon Fentiman, Minister for Employment and Small Businesses elaborated on how the grant could enable businesses to move to more resilient models. “Small businesses, including micro businesses, can apply for a share in the grants program to help pay for financial, legal or other professional advice, marketing and communications activities and digital or technology strategy development.”

According to the Business Queensland website, businesses eligible for the grant must;

  • have been subject to closure or otherwise highly impacted by current shutdown restrictions announced by Queensland’s Chief Health Officer on 23 March 2020
  • demonstrate that business revenue has been significantly impacted since 23 March 2020 over a minimum 1-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
  • not be insolvent or have owners/directors that are an undischarged bankrupt.

 

Only 1 application will be accepted from an individual ABN or a financial beneficiary of a business.

The grant will be available until the funds are allocated. It is advised to be prompt on application to ensure you don’t miss out. If you believe you are eligible or have questions, do not hesitate to call or email one of the partners.

Darren Laarhoven:  D.Laarhoven@uhyhnseq.com.au

Bill Charlton:             B.Charlton@uhyhnseq.com.au

Lauren Steinheuer: L.Steinheuer@uhyhnseq.com.au

Reece Jory:                 R.Jory@uhyhnseq.com.au

Malcolm Barkle:       M.Barkle@uhyhnseq.com.au

Dean Vane:                 D.Vane@uhyhnseq.com.au

 

 

GENERAL ADVICE WARNING

This content has been prepared to provide you with general information only and has not taken into account your personal objectives, financial situation or needs. It does not contain and it is not to be taken to contain Personal Financial Advice. Before making any financial or investment decisions, you should seek advice from an appropriately licenced or authorised financial advisor.

The content was prepared by UHY Haines Norton. AFS Licence No. 483056

FACTUAL INFORMATION WARNING

This content has been prepared to provide you with factual information only and has not taken into account your personal objectives, financial situation or needs. It does not contain and it is not to be taken to contain Personal Financial Advice. Before making any financial or investment decisions, you should seek advice from an appropriately licenced or authorised financial advisor.

The content was prepared by UHY Haines Norton. AFS Licence No. 483056

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