New $10k grant from the Queensland government open 1 July.

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Great news! A second round of the $10k Queensland Government COVID-19 Adaptation grant has been announced. This grant is designed to assist business owners in their recovery from the pandemic.

 

When are applications opening?

 

The government will be accepting applications for the $10k grant on 1 July 2020. Get in as soon as possible to ensure you get your chance at the grant.

 

Eligibility criteria

 

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.

Successful applicants from round 1 of this program cannot apply for funding under round 2.

If you have submitted a round 1 application but haven't heard back yet, you are eligible to apply for round 2.

 

What will be funded?

The available grant amount is a minimum of $2,000 and up to a maximum of $10,000 per eligible small or micro business.
In recognition of the significant impacts of COVID-19 on small businesses, the funding can be used towards the following:

  • financial, legal or other professional advice to support business sustainability and diversification
  • continuing to meet business operational costs including utilities, council rates, rent, telecommunication charges, insurance fees, licensing or franchise fees
  • strategic planning, financial counselling or business coaching aligned to business development and diversification
  • building the business through marketing and communications activities (e.g. content development – web pages, mobile apps, visual and audio media etc.)
  • digital/technological strategy development
  • digital training or re-training and up-skilling employees to adapt to new business models
  • capital costs associated with meeting COVID-19 safety requirements
  • specialised digital equipment or business specific software to move business operations online (e.g. logistics program for online ordering).

 

This round of grants won’t last forever, with $100 million set aside by the Queensland Government for this grant. Based on our experience from round 1, this money will go fast so it is important that you get your application in as soon as possible. Don't wait for the due date as its highly likely that applications will close early. If you need assistance applying for a grant reach out to Link Advisors.

Click here to go to the Queensland Government Adaptation Grant website.

Some examples of things Link could do for your business under the grant include;
  • A new website or brand refresh with Link Pixel
  • A business plan or cashflow forecast with Link Advisors