Small businesses are the backbone of the Australian economy, employed over 6 million people in 2020. However, running a small business is never easy, especially during an economic downturn caused by the COVID-19 pandemic. Thankfully, the government of Queensland has put together a range of small business grants to provide financial assistance to businesses that are struggling due to the pandemic or looking to grow and invest in their operations. In this article, we will take a look at the top 5 QLD small business grants to apply for in 2021.
1. Small Business COVID-19 Adaption Grant
One of the most popular grants for small businesses in Queensland is the Small Business COVID-19 Adaption Grant. This grant provides up to $10,000 to support small businesses in adapting to the COVID-19 pandemic. The grant can be used for various purposes, such as implementing social distancing measures, transitioning to online operations, and building or upgrading e-commerce websites. Eligible small businesses must have been negatively impacted by COVID-19 and have a turnover of less than $300 million.
2. Business Basics Grant
If you are a start-up or micro-business owner, you may be eligible for the Business Basics Grant. This grant provides up to $5,000 to help new businesses get off the ground or improve their operations. The grant can be used to seek advice on professional business planning, terms of trade, HR, or digital marketing strategies. Small businesses with a turnover of $300,000 or less might be eligible for this grant.
3. Ignite Ideas Fund
The Ignite Ideas Fund is designed for businesses that are working on innovative projects that have the potential to create jobs and stimulate the Queensland economy in the long term. This grant provides up to $250,000 in funding support for businesses that are involved in research and development, commercialization, and in potential pilot or scale-up of new products, processes, and services.
4. Skilling Queenslanders for Work
The Skilling Queenslanders for Work grant aims to help small business owners train and develop their staff to meet the needs of their business. The grant provides funding for accredited training and mentoring services to businesses that are looking to upgrade the skills of their current workforce or hire new employees. This could be an excellent opportunity for businesses that are looking to grow and expand their operations.
5. Regional Jobs Support Package
If your business is based in regional Queensland, you may be eligible for the Regional Jobs Support Package. This grant provides funding for businesses in communities that have been significantly impacted by COVID-19, offering up to $100,000 to cover staff wages, operating costs, and business-related expenses. Applicants for this grant must have fewer than 20 employees and have a 30% reduction in turnover due to COVID-19.
In conclusion, if you are a small business owner in Queensland, don’t miss out on these grants. Applying for financial assistance could provide the lifeline your business needs during the challenging times of the pandemic, or help you invest in your operations to improve profitability in the long-term. Make sure you review the eligibility criteria for each grant and take advantage of the opportunities that can help you take your business to the next level.
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