Small business grants to start, grow or employ

The Office of Small Business has rolled out three grants programs targeted at helping small businesses start, grow and employ.

Queensland government grants benefit small businesses in several ways.  These include learning new organisational and management skills which can help to improve the success of the business as well as direct funding which can be used to reach strategic goals and objectives.

 

Accelerate Small Business Grants

 

The Accelerate Small Business Grants Program provides targeted assistance to small businesses that demonstrate high-growth and employment aspirations to enable them to engage board-level expertise for an extended period.

Matched funding of up to $10,000 (excluding GST) may be provided to eligible businesses to engage business mentors, coaches or an advisory board for a six to twelve month period (an advisory board provides non-binding strategic advice to a management team).

The purpose is to provide high level expertise to encourage growth and job creation through business expansion.  The grant program is open continuously with applications assessed on a monthly basis.

To be eligible for this grant, the business must:

• have a minimum trading history of 4 years
• have a minimum turnover of $750,000
• have a maximum of 20 employees at the time of application
• have an Australian Business Number (ABN)
• have Queensland headquarters or significant Queensland operations
• have competitive opportunities in domestic or international markets
• be experiencing growth and have clearly defined high growth opportunities.

This grant is targeted at established Queensland-based small businesses that are financially sound and have the potential for high growth over the next one to two years.  High growth is generally considered to be a 20% increase in turnover or employment.  The participant must have a business plan in place, and the capacity to access finance to fund the growth of their business.

Access the Accelerate Small Business Grant application guidelines here.

 

Small Business Digital Grants

 

The Small Business Digital Grants Program provides small businesses with access to digital technologies and services to enable them to work smarter, engage with the global economy and make the most of online business opportunities arising from digital disruption.

Matched funding of up to $10,000 (excluding GST) may be provided to eligible businesses to enhance the digital capabilities of their business including website optimisation, receiving online payments, or creating a social media plan.  The business must show that the digital technology or service purchased and adopted will enhance the digital capabilities of their business and help them to be more competitive and employ more staff.

Payment will be made directly to the business on completion of the project and on presentation of proof of payment for the product or service.

To be eligible the business must:

• have fewer than 20 employees at the time of applying for the grant
• have an Australian Business Number (ABN) and be registered for GST
• be based in Queensland
• have a turnover of $2 million or less in the last 12 calendar months.

The participating business must provide a project report on completion of the project detailing how the funds were spent and the impact it has had on the business.

The next round of these grants will open mid 2017.

Access the Small Business Digital application guidelines here.

 

Small Business Entrepreneur Grants

 

The Small Business Entrepreneur Grants Program provides newly created small businesses access to planning, coaching and training to help them get a better start.

Matched funding of up to $5,000 (excluding GST) may be provided to eligible businesses to engage a consultant, advisor, or business coach to help establish or develop the business.

The advice must fall under one or more of the following areas:

• professional business, tax, computing, legal or financial (accounting) advice
• mentoring/coaching
• business and strategic planning
• market research and marketing strategies, including branding strategies and social media/digital strategies.

Payment will be made directly to the business on completion of the project and on presentation of proof of payment for the service.

To be eligible the business must:

• have a business name registered within the last 4 years
• have fewer than 20 employees at the time of applying for the grant
• have an Australian Business Number (ABN) and be registered for GST
• be based in Queensland.

The participating business must provide a project report on completion of the project detailing how the funds were spent and the impact it has had on the business.

The grant is specifically aimed at funding businesses to engage a consultant, advisor, or business coach.   The following activities will not be funded:

• fees for services provided by related parties (such as companies with common shareholdings or directorship with the applicant, and employees or immediate family of the applicant)
• franchise fees or related costs
• direct selling businesses – where sales of another business’s goods or services are made in the customer’s home, work or other meeting place through methods such as party plan
• purchase of assets, such as stock
• salaries
• general business operating costs (including bookkeeping/accounting and tax returns)
• search engine optimisation (SEO), Google AdWords, Facebook advertising or similar expenses
• retrospective payments for expenses already incurred or work already undertaken
• subscriptions, including cloud (software) services.

The next round of these grants will open mid 2017.

Access the Small Business Entrepreneur Grant application guidelines here.

 

Further help:

If you’d like to discuss these opportunities with one our business advisers, please contact us on 07 3023 4800 or at mail@marshpartners.com.au

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