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COVID-19: Round 2 Small business grants up to $10,000

Posted 20 May '20

Update (17.6.20): The Qld Government is extending the Small Business COVID-19 grant program. up to $100 million is being made available to deliver the second round of grants. This round will be equally divided between SEQ and regional Qld and will commence 1 July 2020.

Further eligibility requirements for round 2:

> Only 1 application per round will be accepted from an individual ABN or a financial beneficiary of a business.
> Successful applicants from round 1 of this program cannot apply for funding under round 2.
> If you have submitted a round 1 application but haven’t heard back yet, you are eligible to apply for round 2.

Full details read here

Grant information Round 1 (20.5.20)

Yesterday the premier Annastacia Palaszczuk announced that Queensland small businesses impacted by COVID-19 can now apply for a business grant up to $10,000 to assist in adapting and sustaining their operations.

The aim of the program is to see small businesses prepare for the safe resumption of trading, access digital technologies to rebuild business operations and new opportunities for growth.

What can the funding be used for?

> Financial, legal or professional advice to support business sustainability (i.e. cashflow fore-casting, budgets, structure advice and planning)
> Strategic planning, financial counselling or business coaching aligned to development
> Marketing and communication activities focused on business development (i.e. content development, web pages, apps, visual and audio media)
> Digital/technology strategy development
> Digital training or retraining to adapt to new business models (i.e. training for the use of new online programs now required to run operations)
> Capital costs associated with meeting COVID-19 SAFE requirements (i.e. hospitality or retail businesses needing to modify premises to meet safety requirements)
> Specialised digital equipment or software to move operations online (i.e. logistics program for online ordering)
> Meeting business costs, including utilities, rent

Who can apply for this grant?

To be eligible the business must:

> Have been subject to closure or highly impacted by current restrictions announced by Queensland’s CHO on 23 March 2020 (link to announcement here)
> Show business revenue has had a 30% decline since 23 March 2020, over a minimum 1-month period due to COVID-19
> Employ staff, but have fewer than 20 employees at the time of applying
> Have an ABN activate at 23 March 2020
> Be registered for GST
> Have a QLD headquarters
> Have an annual turnover over $75,000 in the 2 last financial years, or be able to provide financials to show this will be met for recently started businesses
> Have payroll of less than $1.3 million
> Not be insolvent, or have owners/directions who are undischarged bankrupt

Who does Empire Accountants think this grant would benefit?

This grant really looks to serve small businesses in Queensland who have had to completely change the way they do things due to COVID-19.

Whether you’re a restaurant, gym, allied health, retail, education or training business owner who is now finding the need to overhaul the ‘normal’ operations and embrace technology, create an online presence or modify your current space. We think it’s worth looking into this grant to see how it could positively impact your business.

If you’re eligible and need assistance with being connected to the right people that can offer services related to growth, whether it’s rebranding experts, website developers or business strategists, call Empire Accountants today on 07 3124 0244 so we can refer you to a preferred partner.

How do you apply for the grant?

Read through the criteria on the following webpage, prepare your application & return to the following webpage when the round opens: Applications have closed.

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