QLD Government Grants for Small Business

QLD Government Grants for Small Business

The past few years have been challenging for many Queensland businesses. The QLD state government has thankfully responded to these challenges by providing a wide range of grants for small businesses in Queensland.

The different grants all have their own benefits, eligibility criteria and application deadlines, and it can almost be impossible to keep on top of all of the different information, alongside running your small business on a day-to-day basis. That’s where we come in. We use our industry expertise and contacts to stay up to date with the latest developments. Below we have listed some of the main Qld government grants for small businesses, and if you are seeking advice on what grants are best suited to your needs, give us a call today.

Business Growth Fund Program

The Business Growth Fund is targeted at small to medium-sized businesses, that need to purchase specialised equipment to grow their business. In order to qualify, the specialised equipment must directly cause an increase in employment and maximise economic returns.

The scheme defines specialised equipment as complex machinery which will increase, enhance or automate productivity. Examples provided include:

• Advanced logistics equipments and systems
• Advanced manufacturing or digital equipment
• Production equipment needed to meet growth demand, which you wouldn’t otherwise be able to meet

This list is not exhaustive, so if your specialised equipment does not fit into these three categories it could still qualify.

Businesses may be eligible for an up-front payment of between $25,000 and $50,000, and successful applications must contribute at least 25% towards the cost of the specialist equipment. The project will not fund projects with a total cost below $33,333 (ex. GST).

In order to be eligible for this grant, your business must be financially sound and have the potential to have a 20% increase in productivity, profit, turnover and/or employment over the next two years.

The application process is a 3 stage process:

1. Expression of Interest – opens 9am 31 May 2022 – closes at 5pm June 2022 or when sufficient applications are received
2. Full Application
3. 5 to 10 minute pitch of your case to business experts and DESBT executives.

We have experience in producing successful grant funding applications, and produce applications that give you the best chance of securing much needed funding. If you are successful in the first two stages, to many it can seem daunting to pitch your case to industry experts. But there is no need to panic as our grant consultants can guide you through it all. 

Back to Work Program

The Back to Work Program seeks to give eligible businesses the confidence to retain and employ Queenslanders who have had a period of time out of work. Within the Back to Work Program there are a number of different funding and support opportunities available, and eligible businesses may receive up to $20,000.

Specifically for small businesses there are:

• Back to Work Support Payment – Payments of up to $15,000 for eligible employers who hire an unemployed job seeker from target groups.
• Youth Boost Payment – Payments of up to $20,000 for eligible businesses who hire an unemployed jobseeker, who is aged between 15 and 24 years.
• Small Business Support Pool – Payments of up to $2,000 for businesses who have been approved a Back to Work program, to retain and support their employees,

The payments are subject to eligibility criteria and the availability of funds. In addition to funding, this Qld government grant also provides support packages as part of the Back to Work scheme. For example, Back to Work Employer Officers are available to support small businesses that wish to employ and retain unemployed Queenslanders.

South East Queensland Flood Relief

Administered by the Queensland Rural and Industry Development Authority (QRIDA), the South East Queensland Flood Relief Program offers grants and loans to businesses severely impacted by flooding.

The extraordinary disaster assistance recovery fund has grants available of up to $50,000, to eligible small businesses within a defined disaster area, who have directly suffered as a result of heavy rain and flooding. The grant funding must be used on costs associated with clearing up the impact of flooding. This could include:

• Removing debris
• Purchasing or hiring equipment
• Purchasing materials
• Replacing or removing damaged infrastructure
• Replacing damaged stock

As part of the application process, businesses should take photographs of the damage to evidence the impact they have suffered. If the business is insured, full details of the insurance policy and any claims submitted should also be provided.

In order to be eligible for the program, you must meet the following criteria:

• own a small business
• hold an Australian Business Number (ABN), and have one at the time of the disaster your business must be located within one of the defined disaster areas
• your business must have suffered direct damage from the disaster
• you are primarily responsible for meeting the costs associated with the application
• you intend to re-establish the business within the defined disaster area

The program is made up of two parts. Firstly, an initial application is made for up to $15,000 to support an initial claim. After this, subsequent applications can be made up to a total of $35,000, and evidence of payment is required for the second application. This is an important distinction between part 1 and part 2. For part 1 you only need to provide evidence of the damage and quotes. If eligible you will then be paid the appropriate money – up to $15,000 to spend on matters directly related to the disaster. Then with stage 2, you must have paid for the work to be done, and make the claims after payment has been made.

Business Basics Grants Program (Round 3)

The delayed Business Basics Grants Program (Round 3) has closed for new applications, after a surge in applications took the program beyond its maximum number of applications. This demonstrates a need to act quickly should a suitable grant program be launched, as waiting too long could lead to disappointment and missed opportunities.

In addition to the specific QLD government grants for small businesses, it is important to remember that you may be eligible for support from the Federal government as well.

As you can see from the above, there are a number of QLD government grants for small business, alongside other support packages. However, demand for some programs are high, and as such you may need to act fast to secure assistance. We always keep up to date with the latest developments on grant programs that are open for applications. Speak to one of our advisors today to see how we can help you secure assistance to help your business survive and thrive through recent challenges.