The government of Queensland understands the important role played by small business owners in the regional economy. They generate not only economic activities but also give employment to large numbers of men and women in the state. Queensland government provides encouragement to these businesses through different kinds of business grants.
Small business disaster recovery grants
Under this program, the government of Queensland is giving away monetary assistance of up to $10,000 to eligible businesses to help them in their recovery from damage done by north and far north Queensland monsoonal trough. This natural disaster took place from 25 January 2019 till 14 February 2019. This assistance is provided for repair of plant, building and equipment. Another part of this grant is resilience funding where money is given to hire a coach or mentor for expert advice on recovery.
- Your business must have ABN
- It must be registered under GST
- It must have fewer than 20 employees on 1st January, 2019
This grant was announced by Queensland government on 29 May 2019 and it will close on 10 June 2021 or the date on which funds get exhausted.
Back to Work Program
Back to Work program is an initiative of the government of Queensland aimed at encouraging employers to hire new employees and grow business. Eligible businesses can get financial assistance of up to $2,000 to hire unemployed individuals under this program. This grant is not just for the employers as it also supports jobseekers that are desirous of updating their skills to either retain their existing job or to gain better employment.
The thing to remember is that Back to Work Program is not a wage subsidy and the decision to hire an individual is at the sole discretion of the employer. Employers and job seekers must check whether they fulfill the eligibility requirements before applying for a grant under Back to Work Program. It is an ongoing grant and applications are being accepted form eligible candidates for 2020- 21.
Advance Queensland Industry Attraction Fund (AQIAF)
Industry Attraction Fund is a $150 million initiative of the Queensland Government under a larger $755 million program called Advance Queensland. It aims to attract investment in various industries and to create more jobs.
- The business entity must have recognition under Commonwealth Law
- It must have ABN
- It must be registered under GST
- It should be considering setting up business in a Queensland location
- The project must invest capital and create jobs for Queenslanders
Business Development Fund
BDF is another initiative under Advance Queensland program launched by the government of Queensland. Under this program, funding from $125,000 to $2.5 million is available to eligible Queensland businesses with cutting edge technologies or research so that they can attain their potential. Applications made by eligible entities will be assessed by an independent BDF Investment Panel. The objective of Queensland Government in BDF is to help entrepreneurs at the seed level so that they can launch a commercially viable innovative product or service.
BDF is an open scheme and applications are being invited at the moment.
Above mentioned are only some of the many Government Grants given for businesses in Brisbane. To find more information about such grants and their eligibility criteria, please speak to one of our advisors at the number mentioned below.