New $15,000 small business grants opening soon

Queensland small businesses are being urged to get ready to apply for the new Business Boost grants to help fast-track their plans to improve their efficiency and productivity.

Minister for Employment and Small Business Di Farmer said the grants of up to $15,000 each can be used for upgrades and organisational improvements for established businesses.

“These grants are part of the $25 million suite of grants under the Big Plans for Small Business Strategy. We are delivering on our commitment to back small business which is a key priority of the Palaszczuk Government’s COVID-19 Economic Recovery Plan,” Minister Farmer said.

“Small business owners will be able to access information from today to help them prepare their applications in readiness for the opening of applications at 9am on 30 July.

“We are releasing the information in good time thanks to the clear and unambiguous feedback we received on our statewide Small Businesses Roadshow earlier this year.

“This notice means small business owners will have two weeks to read the guidelines and the frequently asked questions, and to prepare their application for the best chance of securing a grant.”

The Minister said small businesses will share in $2.5 million in the first round of the Business Boost program in 2021-22 with another round planned in 2022-23. Businesses will need to co-contribute 30 per cent of the total cost of their proposed purchases, and grant funding will be paid following completion of the project.

“The grants can be used for activities such as website development and upgrades, strategic marketing, training and coaching, advisory services and planning for business continuity and succession,” Minister Farmer said.

These new grants are in addition to the Business Growth Fund grants of up to $50,000 and the new Business Basics grants of $5,000 which attracted hundreds of applications when they opened in May this year. To date $12.5 million in Small Business Grants have been launched under the Big Plans for Small Business Strategy.

“The feedback from small businesses is helping us refine our response, to streamline the grant process and to give greater lead in time along with more promotion of what government support is available.

“Our current grants programs build on a range of support provided to small businesses impacted by the COVID-19 pandemic including more than 20,400 Small Business COVID-19 Adaption Grants, online training options, a range of rebates, deferrals, and loans and commercial tenancy support from the Queensland Small Business Commissioner.”

Business must have a turnover of between $300,000 and $600,000 in the last financial year to be eligible.

Information about the Business Boost Grant program is available at business.qld.gov.au/business-boost