Have you heard about the Queensland Government’s new Business Basics Grants and wondered if you’re eligible? The grants serve as extra help for business bouncing back after more than a year of Covid disruptions. However, you still may be eligible if you haven’t been affected by Covid.
We’ve got all the details you need below, to find out exactly what the grants are and whether you’re eligible.
What are Business Basics Grants?
The Queensland Government has implemented a round of Business Basics grants aimed at helping small businesses to develop core skill and adopt best practice. So, what exactly does that mean? Basically, you can apply for a grant to help fund activities in 5 different areas:
- Training and coaching
- Website build or upgrades
- Professional business advice
- Strategic marketing services
- Business continuity and succession
The grants are for a fixed up-front payment of $5,000, meaning your activities need to be costed at $5,000 or more. Also, you need have grant approval before paying for the activity expenses. The conditions of the grant are very clear, that it can’t be used to cover expenses or payments made before the approval date.
Who is eligible?
Small businesses that meet the criteria below are eligible to apply for the grant. However, it’s important to act fast. The grant closes on 30 June 2021, or whenever a suitable number of applications have been received – whichever happens first.
- Your small business must have fewer than 20 employees at the time of applying for the grant
- You need an active Australian Business Number (ABN) and be GST registered
- Must maintain a Queensland headquarters
- Maximum turnover of $300,000 or less for the current financial year
- Must not be insolvent or have owners/directors that are an undischarged bankrupt
If you meet that criteria, check out all the details on how to apply right here.
What can you use the Business Basics grant for?
The list is pretty exhaustive, but it’s important to remember that this grant, like most Government business funding, is all about certain activities. It’s not just a cash injection into your business, so you’ll need to show you’ve planned activities costing $5,000 or more. This grant serves as a contribution towards that.
Some possible ideas you can use the Business Basics grant for include:
- Website builds or rebuilds
- Branching out into eCommerce
- Developing new website content
- Business development, such as process discovery and improvement
- Marketing plans and marketing activities
- Training and coaching
- Creating business plans
- Search engine optimisation services
When deciding if the Business Basics grant is right for you, it’s really important that it can only be used for specialist activities. For example, you can subsidise expert marketing strategy, but it can’t be used for the actual ongoing cost of Google or Facebook advertising. Other things you can’t use the grant for are vehicles, salaries, computer hardware, memberships and fees, rent costs etc. It’s not about purchasing assets, but more about hiring professional services to help grow your business.