Today the QLD Government is open its guidelines for the next round of grants for small businesses.
The Business Boost grant is for up to $15,000 to help small businesses improve their efficiency and productivity through organisational development and upgrades through automated software and CRM systems.
Businesses are supported to advance improvements in their…EFFICIENCY AND PRODUCTIVITY
The grant is expected to result in businesses improving their turnover, profit and employment; increase business confidence and skills and improve business resilience and survivability.
The funding is only for 70% of the total project cost and is limited to projects that focus on one of the QLD Governments 3 areas of priority being:
- Future planning
- Specialised and automated software
- Staff management, development and planning.
How do you know if you are eligible for the Business Boost Grant?
To be eligible, your business must (at the time of applying):
- have fewer than 20 employees
- have an active ABN and be registered for GST
- be headquartered in Queensland
- have a turnover from 20-21 financial year that is between $300,000 and $600,000
- have owners/directors that are not insolvent or undischarged bankrupt
Some example projects that the Queensland Government has outlined as eligible projects include:
- Future planning -The business commissions a report based on evidence to assess diversifying its operations to meet potential growth opportunities and maximise financial returns.
- Specialised and automated software -The business is expanding quickly and needs a real-time inventory system to speed up operations and meet delivery expectations.
- Staff management, development and planning -The business is experiencing growth but is finding it challenging to attract staff, build skills and effectively manage the workforce.
To receive the funding, the applicant must complete their approved project within 6 to 12 months after they have received their approval letter and funding agreement.
Applications open on the 30th of July and must be completed online at DESBT SmartyGrants Applicant account. Applicants must register for an account before being able to submit an application.
To be prepared, before the 30th of July, you need to:
- Complete a certified statutory declaration stating the business has turnover between $300,000 and $600,000 per annum and meets all grant eligibility requirements; and
- provide no more than two supplier quotes for the project. The quotes must detail who will undertake the project/activity, an outline of the key services and output, a detailed description of the project and the costs.
Because this is a competitive grant, the most important thing to plan between now and 30th July is the realistic outcomes of the project. You will be expected to be clear about what positive impacts you expect to see in your business because of this project with details on revenue growth, increased profit and the likelihood of job creation. The project must demonstrate value for money or you will likely not be considered.