Round 2 of the Government Small Business Grants QLD for the COVID-19 Adaption Program opens for new applications from 1 July 2020. $100 million in new funding is being made available to eligible small business who’ve been closed or impacted by coronavirus to adapt and sustain their operations.
Update: 3 July 2020 – 100% of funds available for South East Queensland small businesses applied for – CLOSED FOR SOUTH EAST QLD
The funding round for Regional Queensland remains open. Please continue to submit your application.
Summary of the COVID-19 adaption small business grant QLD
|Grant open date||1 July 2020|
|Amount of grant||$2,000 to $10,000 per small business|
|Total amount of grant||$100m ($50m only for South East QLD)|
|Purpose of grant||Small business adaption for COVID-19 impacts|
|Eligibility criteria||QLD small businesses.|
How much is the QLD small business grant?
The amount available for the small business grants for QLD is a minimum of $2,000 and a maximum of $10,000 per eligible small or micro business.
Round one of the small business grant from the Queensland Government was fully allocated in less than a week, however this $10,000 grant has a larger funding pool of $100 million.
What must the grant be used for?
In recognition of the significant impacts of COVID-19 on small businesses in Queensland, money from the adaption program grant can be used towards the following:
- financial, legal or other professional advice to support business sustainability and diversification
- continuing to meet business operational costs including utilities, council rates, rent, telecommunication charges, insurance fees, licensing or franchise fees
- strategic planning, financial counselling or business coaching aligned to business development and diversification
- building the business through marketing and communications activities (e.g. content development – web pages, mobile apps, visual and audio media etc.)
- digital/technological strategy development
- digital training or re-training and up-skilling employees to adapt to new business models
- capital costs associated with meeting COVID-19 safety requirements
- specialised digital equipment or business specific software to move business operations online (e.g. logistics program for online ordering).
Note: Grant funds can 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.
This means the small business grants under this program can be used on expenses already paid where it’s related to supporting the business through COVID.
All invoices or quotes from suppliers will be checked to determine if they are genuine (e.g. supplier has as active ABN and the invoices or quotes have not been altered in any way).
What items are not covered by the COVID-19 small business adaption grant?
Does the small business have to be located in QLD? What if there are multiple locations?
The business must have a Queensland headquarters. To demonstrate this, the ‘Main Business Location’ of the applicant’s ABN must be listed as being in Queensland on the Australian Business Register(ABR) at the time of application.
If the ABR listing for the applying business does not list Queensland as the main business location, you must provide evidence of a Queensland headquarters in writing to firstname.lastname@example.org prior to the grant round closing.
Evidence of a Queensland Headquarters includes:
- a copy of the applicant’s Australian Securities and Investments Commission (ASIC) Company Statement listing a Queensland address as ‘principal place of business’or
- a letter from the applicant’s accountant confirming the business has changed to a Queensland main business location.
Does the business need to be registered for GST to receive this QLD small business grant?
Yes. The business must be registered for GST at the time of application to be eligible for funding under this program.All businesses that have an annual turnover of $75,000 or greater are required to register for GST.
If you business is not currently registered for GST, however you estimate that your turnover will be above $75,000 for the financial year beginning 1 July 2020, please contact us for further advice as your business may still be eligible but you will need further evidence as part of your application.
Is the grant taxable income of the business?
How is GST treated on the small business grants?
What evidence is needed to show my business turnover is above $75,000 for this grant?
Can I submit an application without all necessary evidence?
No. You must submit a completed application, which includes all supporting evidence as requested in the application form,in order to be considered for the grant. Failure to submit complete applicationswill result in delays to processing and in the interim funds may be exhausted.
Can an accountant or other supplier apply for the grant on my behalf if I give permission?
No. Although business advisors and accountants such as Quill Group can assist and provide help with your application, the person submitting the application form must be a representative (director etc) of the business applying for the COVID-19 adaption small business grant QLD.
If my business receives this small business grant, what must I do after?
The following actions and reporting are required:
- enter into a funding agreement with the Department of Employment, Small Business and Training
- purchase the product/s or service/s in full as per the funding agreement
- deliver the project as per the funding agreement
- complete a final acquittal within one month of the project completion date
- complete a follow-up survey six months after the Program has finished.
When will funding be available and how will payments be made?
If your application is successful, the funding will be provided directly to the applicant. To fully acquit your grant you will be required to submit an acquittal report through SmartyGrants that includes receipts.