Small Business COVID-19 Adaption Grant Program Round 2 opening 1 July 2020
The Queensland Government is extending the Small Business COVID-19 Adaption Grant Program. As part of Stage 2 of Queensland’s Economic Recovery Strategy – Unite and Recover for Queensland Jobs, up to $100 million is being made available to deliver a second round of grants, with half of this funding specifically earmarked for regional small businesses located outside of South East Queensland.
As the first round of these grants were over subscribed in 5 days, our recommendation is that you have everything ready to submit your application.
The objective of this program is to support small businesses subject to closure or highly impacted by the coronavirus (COVID-19) shutdown restrictions announced by the Queensland Government, to adapt and sustain their operations, and build resilience.
The program aims to see small and micro businesses:
- prepare for the safe resumption of trading in the post COVID-19 recovery
- continue to meet operating costs
- access digital technologies to rebuild business operations and transition to a new way of doing business
- respond to online opportunities, where possible, to sustain employment and maintain potential for longer-term growth
- upskill and reskill business owners and staff to benefit from new technologies or business models
- embrace business diversification to adapt and sustain operations
- create or retain employment.
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.
How to apply – Round 2 will open on 1 July 2020
This funding round may only be open for a short period due to demand and will close when the funding allocation is anticipated to be exhausted.
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.
Funding will be paid upon approval of your grant application. Applicants will have 6 months to complete their projects and must acquit the total amount of funding received.
Our team is ready to assist you with your application and recommend you get in quick to avoid disappointment. We are providing quotes for your business within 5 minutes of request.
Call us now on 4721 4640 or click the link below to open an email directly to our team.