Queensland Government Grants Update

Government Grants and Incentives Update

The Department of Employment, Small Business and Training administers grants and programs to help Queensland business continue to increase key capabilities, embrace innovation, and assist high-growth businesses to capitalise on opportunities.

On 1 May 2021, another $25 million in grants were announced to be delivered over two years via three new programs:

  1. The Business Basics program will offer grants of up to $5,000 each support new and emerging businesses to increase core capabilities and adopt current best practice.
  2. The Business Growth Fund will help evolving and fast growing small and medium sized businesses to buy highly specialised equipment to seize and accelerate growth opportunities.
  3. The Business Boost program will support established small businesses with grants of up to $15,000 to improve their efficiency and productivity through organisational development and upgrades through automated software and CRM systems.

 

Key information

Business Basics Grants Program
Funding: $5,000
Guidelines/FAQs available: 17 May 2021
Applications open: 31 May 2021

Business Growth Fund
Funding: up to $50,000
Guidelines/FAQs available: 1 May 2021
Applications open: 11 May 2021

Business Boost Grants
Funding: up to $15,000
Guidelines FAQs/available: mid-July 2021
Applications open: late July 2021

 

Business Basics Grants

The Business Basics grants program provides support to businesses to increase core skills and adopt best practice.

Available funding

You may be eligible for a single up-front fixed grant payment of $5,000 (excluding GST).
The grant is for funding activities from one of the below priorities.

  • training and coaching
  • website build or upgrades
  • professional business advice
  • strategic marketing services
  • business continuity and succession

Eligibility criteria

To be eligible for this grant, your business must:

  • have fewer than 20 employees at the time of applying for the grant
  • have an active Australian Business Number (ABN) and be registered for GST
  • have a Queensland headquarters
  • have a turnover of $300,000 or less for the current financial year
  • not be insolvent or have owners/directors that are an undischarged bankrupt.

Applying

Applications open 31 May 2021. The application form will be available on this date.
Applications will close when (whichever happens first):

  • sufficient applications for competitive assessment are received, or
  • 30 June 2021.

Note: This grant program is competitively assessed. Not all applications will be funded.

You can find out more about the program here – https://www.business.qld.gov.au/starting-business/advice-support/grants/business-basics-grant

 

Business Growth Fund

The Business Growth Fund (BGF) targets high-growth businesses who can accelerate growth, drive Queensland’s economy and employ more Queenslanders.

Available funding

You may be eligible for a single up-front payment up to $50,000 (excluding GST).
You must also fund at least 25% of project costs to buy and implement the specialised equipment.
Funding must be used to buy specialised equipment to meet business growth. The equipment must have a direct link to increasing employment and maximising economic returns.
Examples of eligible highly-specialised equipment include (but are not limited to):

  • production equipment to meet otherwise unachievable growth demand
  • advanced manufacturing or digital equipment and systems
  • advanced logistics systems and equipment.

Eligibility criteria

You must be an established small to medium-sized Queensland business who is financially sound and have the potential for high-growth within the next 2 years.
High-growth is defined as a 20% increase in productivity, turnover, profit and/or employment in the last 12 months.
To be eligible for this grant, your business must:

  • have a minimum trading history of 3 years at the time of application
  • have a minimum turnover of $500,000 for the last financial year
  • have fewer than 50 employees at the time of applying for the grant
  • have an Australian Business Number (ABN) and be registered for GST
  • have Queensland headquarters
  • have competitive opportunities in domestic or international markets
  • be experiencing growth and have clearly defined high-growth and employment opportunities in Queensland
  • not be insolvent or have owners/directors that are an undischarged bankrupt.

In addition, your business must have:

  • a business plan in place
  • capacity to access finance to fund the growth of your business
  • a clearly defined opportunity and plan for growth
  • demonstrated how the project (i.e. implementation of specialised equipment) will help your business to achieve these goals.

Check your eligibility to find out if your business can apply for the program – https://www.business.qld.gov.au/starting-business/advice-support/grants/growth-fund

 

Further help:

Information on the Business Boost Grant will be provided when the details are released in mid-July 2021. If you would like to apply for the Business Basics Grant or the Business Growth Fund, the Marsh & Partners team are able to provide advice and assist with assessing eligibility and preparing applications.

If you would like to discuss these programs or any other financial help your business may be entitled to, please contact us on (07) 3023 4800 or at mail@marshpartners.com.au.

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