Breaking: Business Basics Grant Round 2 Opening Up for Regional Queensland

Breaking-Business-Basics-Grant-Round-2-Opening-Up-for-Regional-Queensland-1

The Business Basics Grant (BBG) was a new grant introduced by the Queensland Government that is designed to provide support to businesses to increase core skills and adopt best practices. The state government has decided that it is time for businesses to upskill on what they have deemed the essentials to running a small business. With $5,000 available per business, it’s extremely important to consider what elements of your business could use some attention/improvement. The program will be administered by the Department of Employment, Small Business and Training (DESBT) and this article details what it is and how to get your hands on it.

 

What can you get support for?

The support can be received for implementing the following:

  1. Training and coaching
  • Business development, marketing, human resources or business planning topics
  • Training or coaching
  1. Website build or upgrades
  1. Professional business advice
  • Business plans
  • Cashflow forecasting
  1. Strategic marketing services
  • Strategic marketing plans including search engine optimisation advice
  1. Business continuity and succession
  • Business continuity or succession plans
  • Cybersafety training and tools

 

How much funding is available?

Small businesses are eligible to receive a single up-front fixed grant payment of $5,000. With this, the total cost of the activity (listed above) must be over $5,000.

 

Who’s eligible?

There are a few criteria that need to be met, with the main test being that your annual turnover is under $300,000. The additional elements you need to satisfy are:

  1. Have less than 20 employees at the time of applying for the grant
  2. Be registered for GST
  3. Have an active ABN for your business
  4. Have a Queensland headquarters
  5. Confirm that no owner(s) or director(s) of the business are insolvent or an undischarged bankrupt

The government has mentioned that this grant is competitively assessed and that not all applications will be funded.

 

When and how can I apply?

Applications for round 2 open on 8th of September at 9AM and there is a 5 step application process which consists of:

  1. Online application
  2. Assessment
  3. Notification of outcome
  4. Funding agreement and payment
  5. Recipients complete activities

The applications will close whenever the government either receives sufficient applications.

 

If you are interested in upskilling your business or looking for some professional business advice which you think the Queensland Government may reimburse you for, contact Link Advisors and we can help put a plan in place. We can also help guide you through the application process.