This grant will assist QLD small businesses who have been forced into hibernation, or who had to significantly change business operations as a result of the pandemic.
The program aims to help small business prepare for safe resumption of trading and recovery and access new opportunities to relaunch their business.
The grant amount is a maximum of $10,000 per business and can be used towards the following costs occurring from 23 March 2020 onwards (to be completed within 6 months):
- Financial, legal or professional advice to support business sustainability and diversification.
- Business coaching or advice aligned to business sustainability and diversification.
- Marketing and communications activities such as content development
- Digital training or retraining
- Costs to meet COVID-19 safe requirements
- digital equipment or software to move business operations online.
- meeting business costs including rent and utilities
To be eligible, the business must:
- Have been subject to closure or highly impacted by current shutdown restrictions
- Demonstrate that business revenue has been significantly impacted since 23 March 2020 due to the onset and management of COVID-19
- Employ staff and have fewer than 20 employees
- Have a valid ABN 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
How can you apply for the Small Adaption Grant?
The program is now open. You can lodge an application online at www.business.qld.gov.au/adaption-grant. If you require assistance in lodging your application, contact you Accountant as soon as possible to discuss.
Applications will be processed on a first come first serve basis and applications will be closed once funds have been exhausted.
What information is required?
- A statement describing how the funding will contribute to your small business during the COVID-19 crisis in terms of employment retention or outcomes, business capability and resilience, continuity, diversification, and/or digital capability of the business;
- Evidence to demonstrate that business revenue has experienced a minimum 30 per cent decline since 23 March 2020 (e.g. BAS statement, dated accountant letter on letterhead from a member of CPA Australia, Chartered Accountants Australia & New Zealand or the Institute of Public Accountants);
- Invoice and/or receipt of purchase if related to the purchase of specialised digital equipment or business specific software on or after 23 March 2020;
- Declaration of employee head count;
- Evidence of annual turnover; and
- Evidence of annual payroll.
Once your application is approved
After approval, successful applicants will receive 100% of the eligible funding amount approved. Applicants must not pay for the services in part or in full without confirmation that funding has been approved (notwithstanding allowance for retrospective payments)
Applicants will have six months to complete their projects after receiving approval and must acquit the total amount of funding received. Applicants must submit an acquittal report and copies of supplier invoices for total project costs.
How can Walsh Accountants Help?
This grant is available to fund the cost of financial services and business coaching. If you are interested in using this grant to invest in the development and sustainability of your business; we have all of the knowledge and tools available to assist you.
Our Focus Advisory team specialize in helping business owners take control of their numbers to grow their business. We are in the business of business – we live it; breathe it; and we love it! We are committed to helping business owners and unleash their potential by thinking critically about their business, establishing achievable goals, and stay focused on achieving them.
If you’re ready to come back better and stronger post COVID-19, we’re here to help you.
If you would prefer not to engage our team – not a problem! We encourage you to work through some of these processes yourself and have made the resources available on our website
Refresh, Reload, Relaunch your Business post COVID-19