SMALL BUSINESS ADAPTION PROGRAM OPEN

The Queensland Government’s Small Business Adaption Grant Program has opened round 2 of applications today. Up to $100 Million has been made available to deliver a second round of grants with half the funding is earmarked for regional small businesses outside of South East Queensland.

The objective of the program is to support small businesses subject to closure or highly impacted by the COVID-19 shutdown restrictions, to adapt and sustain their operations and build resilience.

The program aims to see small and micro businesses:

  • prepare for the safe resumption of trading in the post COVID-19 recovery;
  • access digital technologies to rebuild business operations and transition to a new way of doing business;
  • respond to online opportunities, where possible, to sustain employment and maintain potential for longer-term growth;
  • upskill and reskill business owners and staff to benefit from new technologies or business models;
  • embrace business diversification to adapt and sustain operations; and
  • create or retain employment.

Up to $10,000 is available. Services AAA+ Financial Solutions can assist you with:

  • strategic planning, financial counselling or business coaching aligned to business development and diversification
  • financial management to support business sustainability and diversification
  • review and implement best practice financial systems
  • resilience planning to safeguard for future events
  • asset management and funding

Eligibility criteria

To be eligible, the business must:

  • have been subject to closure or otherwise highly impacted by current shutdown restrictions announced by Queensland’s Chief Health Officer on 23 March 2020
  • demonstrate that business revenue has been significantly impacted since 23 March 2020 over a minimum 1-month period due to the onset and management of COVID-19
  • employ staff and have fewer than 20 employees at the time of applying for the grant
  • have a valid Australian Business Number (ABN) active as at 23 March 2020
  • be registered for GST
  • have a Queensland headquarters
  • have an annual turnover over $75,000 for the last financial year
  • have a payroll of less than $1.3 million
  • not be insolvent or have owners/directors that are an undischarged bankrupt.
Only 1 application per round will be accepted from an individual ABN or a financial beneficiary of a business.

Successful applicants from round one of this program cannot apply for funding under round two. If you have submitted a round one application but haven’t heard back yet, you are eligible to apply for round two.

To apply, visit here.

SMALL BUSINESS ADAPTION GRANT ROUND TWO

The Queensland Government has announced an extension to the Small Business Adaption Grant Program. As a part of Stage Two of the government’s Economic Recovery Strategy, up to $100 Million is being made available to deliver a second round of grants. Half the funding is earmarked for regional small businesses outside of South East Queensland.

The objective of the program is to support small businesses subject to closure or highly impacted by the COVID-19 shutdown restrictions, to adapt and sustain their operations and build resilience.

The program aims to see small and micro businesses:

  • prepare for the safe resumption of trading in the post COVID-19 recovery;
  • access digital technologies to rebuild business operations and transition to a new way of doing business;
  • respond to online opportunities, where possible, to sustain employment and maintain potential for longer-term growth;
  • upskill and reskill business owners and staff to benefit from new technologies or business models;
  • embrace business diversification to adapt and sustain operations; and
  • create or retain employment.

Up to $10,000 is available. Services AAA+ Financial Solutions can assist you with:

  • strategic planning, financial counselling or business coaching aligned to business development and diversification
  • financial management to support business sustainability and diversification
  • review and implement best practice financial systems
  • resilience planning to safeguard for future events
  • asset management and funding

Eligibility criteria

To be eligible, the business must:

  • have been subject to closure or otherwise highly impacted by current shutdown restrictions announced by Queensland’s Chief Health Officer on 23 March 2020
  • demonstrate that business revenue has been significantly impacted since 23 March 2020 over a minimum 1-month period due to the onset and management of COVID-19
  • employ staff and have fewer than 20 employees at the time of applying for the grant
  • have a valid Australian Business Number (ABN) active as at 23 March 2020
  • be registered for GST
  • have a Queensland headquarters
  • have an annual turnover over $75,000 for the last financial year
  • have a payroll of less than $1.3 million
  • not be insolvent or have owners/directors that are an undischarged bankrupt.
Only 1 application per round will be accepted from an individual ABN or a financial beneficiary of a business.

Successful applicants from round one of this program cannot apply for funding under round two. If you have submitted a round one application but haven’t heard back yet, you are eligible to apply for round two.

Applications for the grant will be opened on 1 July 2020.

More information can be found here.

HOMEBUILDER A WINNER FOR REGIONAL QUEENSLAND

“It’s a fantastic opportunity for home owners or want-to-be home owners to reduce their mortgage stress and access into the market….”

Author: Ashley Evans

Over the past couple of days, we’ve had plenty of interest from the north west Queensland community around the Federal Government’s HomeBuilder program.

Essentially, it’s a $25,000 grant for eligible owner-occupiers (including first home buyers) aimed at supporting the residential construction market through the COVID-19 economic recovery. It’s also a fantastic opportunity for home owners or want-to-be home owners to reduce their mortgage stress and access into the market.

We’re encouraging those who are interested in the program to start looking at applying sooner rather than later. The grants have a life span of just seven months- for those with eligible applications and contracts signed between 4 June 2020 and 31 December 2020 and where construction commences within three months of that contract date.

In good news, HomeBuilder in uncapped- meaning the pool of money won’t run out before the December deadline arrives, as we have seen with other grants recently.

There is eligibility criteria that includes:

  • you are a natural person (not a company or trust);
  • you are aged 18 years or older;
  • you are an Australian Citizen;
  • you meet one of the following two income caps:

– $125,000 per annum for an individual application based on 2018-2019 tax return or later; or

– $200,000 per annum for a couple based on both 2018-2019 tax return or later; and

  • you enter into a contract signed between 4 June 2020 and 31 December 2020 and where construction commences within three months of that contract date.

The trusted team of Advisors at AAA+ Financial Solutions can assist you in the application process.

Please contact our team on 07 4779 0662 for more information.

[ENDS]

NEW SUPPORT AVAILABLE

 

 

The Queensland Government has announced a new Small Business Adaption Grant Program.

The objective of this program is to support small businesses subject to closure or highly impacted by the coronavirus (COVID-19) shutdown restrictions announced by the Queensland Government, to adapt and sustain their operations, and build resilience.

The program aims to see small and micro businesses:

  • prepare for the safe resumption of trading in the post COVID-19 recovery
  • access digital technologies to rebuild business operations and transition to a new way of doing business
  • respond to online opportunities, where possible, to sustain employment and maintain potential for longer-term growth
  • upskill and reskill business owners and staff to benefit from new technologies or business models
  • embrace business diversification to adapt and sustain operations
  • create or retain employment.

Available funding

The available grant amount is up to a maximum of $10,000 per eligible small or micro business.

In recognition of the significant impacts of COVID-19 on small businesses, the funding can be used towards the following:

  • financial, legal or other professional advice to support business sustainability and diversification
  • strategic planning, financial counselling or business coaching aligned to business development and diversification
  • building the business through marketing and communications activities, for example, content development (web pages, mobile apps, visual and audio media etc.)
  • digital/technological strategy development
  • digital training or re-training to adapt to new business models
  • capital costs associated with meeting COVID-19 SAFE requirements
  • specialised digital equipment or business specific software to move business operations online (e.g. logistics program for online ordering)
  • meeting business costs, including utilities, rent.

Note: Grant funds can also be used towards any of the above activities occurring from 23 March 2020 onwards, keeping in mind the project must be completed within a maximum of 6 months from the date of approval.

Once the program budget has been fully allocated, applications for the program will close. It is estimated that approximately 10,000 small businesses will be supported through this program.

Applying small and micro businesses must meet the eligibility and assessment criteria to be considered for funding.

Eligibility criteria

To be eligible, the business must:

  • have been subject to closure or otherwise highly impacted by current shutdown restrictions announced by Queensland’s Chief Health Officer on 23 March 2020
  • demonstrate that business revenue has been significantly impacted since 23 March 2020 over a minimum 1-month period due to the onset and management of COVID-19
  • employ staff and have fewer than 20 employees at the time of applying for the grant
  • have a valid Australian Business Number (ABN) active as at 23 March 2020
  • be registered for GST
  • have a Queensland headquarters
  • have an annual turnover over $75,000 for the last financial year
  • have a payroll of less than $1.3 million
  • not be insolvent or have owners/directors that are an undischarged bankrupt.

Only 1 application will be accepted from an individual ABN or a financial beneficiary of a business.

Successful applicants cannot reapply for funding under this grant program.

Applying for the grant

To apply, complete the following steps:

  1. read the eligibility criteria
  2. read the application guidelinesterms and conditions
  3. apply using the SmartyGrants link:

Apply now