If you missed out on the previous COVID-19 Adaption Grant that The Queensland Government released just last month on the 19th, the good news is that Round 2 will commence on the 1st July.
If you are an eligible Queensland business, you can apply for up to $10,000 of funding to assist with the growth of your business.
iOnline and IT Leaders will be able to assist you in the technological advancement or your digital marketing needs that your business requires to get your business to where it needs to be after this economic downturn.
Last month round 1 opened on the 19th and was quickly filled with over 11,000 applications by the 23rd, we would highly recommend getting your solution and proposals in order prior to the 1st of July to make sure you’re ready to submit as soon as the portal opens.
Please get in touch with our team to start the process of creating a proposal for your solution that will comply with the Grants requirements and answer the core questions of the application.
What will be funded:
The available grant amount is a minimum of $2,000 and 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
- 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.
To be eligible, your 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 you have experienced a minimum 30% decline 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 (employees must be on your payroll and does not include the business owner(s))
- 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 2018–19 or 2019–20 financial year, or you can provide financial records that show this will be met for recently started small businesses
- have a payroll of less than $1.3 million
- not be insolvent or have owners or 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 1 of this program cannot apply for funding under round 2.
If you have submitted around 1 application but have not heard back yet, you are eligible to apply for round 2.
How to apply
Round 2 will open on 1st July 2020
This funding round may only be open for a short period due to demand and will close when the funding allocation is anticipated to be exhausted.
Regional Queensland and South East Queensland will have independent funding allocations and may close at different times.
Get ready to apply by completing the following steps.
1. Check your eligibility to:
Find out if you are eligible to apply for round 2
- Confirm your business location
- Subscribe to be alerted when round 2 opens.
3. Prepare your application and supporting documentation ready to submit when round 2 open
4. After round 2 opens, return here to lodge an online application (only available after the round opens).
For more information go to https://www.business.qld.gov.au/starting-business/advice-support/grants/adaption