Ready, set, apply: another $100 million for small business recovery grants
Last time these Grants ran out in less than 5 days, so get in quick if you want to apply, there are only 10,000 grants so less than 3% of QLD SME's will be lucky!
Queensland small businesses impacted by COVID-19 are set to receive an additional $100 million in support to help them recover. Premier Annastacia Palaszczuk said a second round of the Small Business COVID-19 Adaption grants of up to $10,000 would be made available from next month to help more small businesses survive and maintain and grow their staffing levels. Minister for Employment and Small Business Shannon Fentiman said the plan is about supporting our small businesses to create more jobs for Queenslanders.
Chamber President, Hilary Jacobs, says "Sadly the one thing we have asked for wasn't there. There is still no certainty around the border reopening. We've consistently said that if we are all allowed to trade to our maximum we would have the best possible chance to rebuild the QLD economy. Currently these Government spends are all coming from our taxes, when we could be open and trading our way out of Covid 19. We want to trade, not be using Aid. We need a firm date on the Border, and to lift restrictions like WA and go to a 2sqm rule".
Small Business COVID-19 Adaption Grant Round 2 opens 1 July 2020. Businesses are encouraged to prepare your application now for up to $10,000 funding for micro and small businesses impacted by COVID-19. Support is available by contacting the board.
To be eligible, your business 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 you have experienced a minimum 30% decline 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 (employees must be on your payroll and does not include the business owner(s))
- 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 2018–19 or 2019–20 financial year, or you can provide financial records that show this will be met for recently started small businesses
- have a payroll of less than $1.3 million
- not be insolvent or have owners or directors that are an undischarged bankrupt.
Only 1 application per round will be accepted from an individual ABN or a financial beneficiary of a business.
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