Get Ready – Round 3 of Business Basics Grants opens 4th of May

Round 3 of Business Basics Grants opens 4th of May

Update: Round 3 of the Business Basics grants will open for applications as follows:

  • Regional Queensland funding - 9am, Monday 16th of May
  • South East Queensland funding - 9am, Tuesday 17th of May

 

Another round of small business grants program is set to start next month. This round will focus on supporting businesses to increase core skills and adopt best practices. Therefore, focusing on 5 activities:

  • Training and coaching
  • Website build or upgrades
  • Professional business advice
  • Strategic marketing services
  • Business continuity and succession

What’s changed?

This round the funding is split into 2 streams based on regional and southeast Queensland, and businesses will be eligible based on their headquarters Local Government Area (LGA).

What’s the amount available?

This round will fund $5,000 excluding GST. Note that the project value needs to be at least $5,000 + GST to be eligible.

A couple of key items to note are:

  • No funding for activities costs less than $5,000 and
  • No funding for payments made before the approval

What is NOT funded?

The activities below are specifically not covered by the grant:

  • Activities bought using crypto, barter or in-kind services
  • General business activities – accounting, bookkeeping, tax.
  • Property – hire, lease, rent.
  • Fees or services from related parties.
  • Travel
  • Franchise fees
  • Stock
  • GST, Registrations and Fees
  • Maintenance of existing technology
  • Computer hardware
  • Other hardware / equipment
  • See the full list in this link Non-eligible activities

Eligibility in detail

To be eligible for this round, your business must:

  • Not have been approved for funding under Round 1 or 2 of the Business Basics Grants Program.
  • Have fewer than 20 employees (by head count) at the time of applying for the grant.
  • Have an active Australian Business Number (ABN) and be registered for GST
  • Have headquarters in Queensland and you are applying for a SEQ or regional grant depending on where your business is based (use the eligibility tool to check your location)
  • Have an expected turnover of $300,000 or less for the current financial year
  • Not have owners/directors that are insolvent or an undischarged bankrupt.

What to do now.

You can start preparing your application now. As we’ve known in the past these grants have closed within hours of opening. Having your application ready is a must.

Remember that you need to have detailed quotes from your suppliers dated after 13 April 2022.

Also here are all the links you might need:

DESBT SmartyGrants applicant account

Application Sample

Statutory declaration sample

Guidelines

At LINK we can help you with:

  • Website build or upgrades
  • Professional business advice
  • Strategic marketing services
  • Business continuity and succession

Speak to us today and get your quotes ready.