The Queensland Government has activated a new $10,000 COVID-19 Small Business Grants scheme to assist small and micro businesses impacted by Coronavirus to access funding for the purposes of “business adaptation”.
IMPORTANT: This is a limited scheme with pooled funding which will not last long.
In the first 24 hours more than 900 small businesses submitted applications and 9% of the available funding has been requested.
To be eligible for the $10,000 COVID-19 small business grants, 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.
What The Grant Must Be Spent On
The $10000 COVID-19 small business grants 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.
Applying for the $10,000 COVID-19 Small Business Grants
To apply, complete the following steps:
- read the eligibility criteria
- read the application guidelines, terms and conditions and frequently asked questions (FAQs)
- apply using the SmartyGrants link:
In addition to meeting the eligibility criteria, applications will be assessed against the following:
- funding availability – applications will be processed on a ‘first come, first served’ basis, and therefore not all applications will be successful
- submission of a complete application form, with all requested supporting documentation included (i.e. your application must contain the requested supporting documentation, otherwise you will be contacted to provide appropriate evidence and this may delay your application’s progress)
- value for money, as determined by the Department of Employment, Small Business and Training (DESBT).
Funding will be paid upon approval of your grant application. Within 1 month of completing the project, applicants must:
- complete and submit an acquittal report through SmartyGrants
- submit copies of supplier invoices and proof of purchase for the total project cost.
Grant recipients may be subjected to a random audit by DESBT to ensure that the information provided is true and correct. Where it is found that false or misleading information has been provided, penalties may apply, including refunding to DESBT some or all of the grant funding.
If you need assistance with the application for the QLD Government $10,000 COVID-19 Small Business Grants scheme please contact your Quill Relationship Manager for more information.