Get ready to Boost your Business!
Time to get ready to apply for the new Business Boost grants which aim to help small businesses fast-track plans to improve their efficiency and productivity.
Business Boost will provide grants of up to $15,000 for upgrades and organisational improvements for established businesses that meet the following eligibility criteria:
- have fewer than 20 employees (headcount)
- have an active ABN and are registered for GST
- are headquartered in QLD
- turned over between $300,000 – $600,000 in the 2020-21 FY
- have a publicly reachable web presence
- have owners/directors that are not insolvent/undischarged bankrupt.
Click for the infographic.
Businesses must contribute a minimum of 30% to the total project cost and the minimum grant is $7500 (ex GST) so the minimum project value must be at least $10715 (ex GST). You can contribute more than 30% to be more competitive or deliver a larger project, but the maximum grant is $15K ex GST.
Eligible projects will fall into 3 priority categories:
1. Future planning
2. Specialised and automated software
3. Staff management, development and planning.
A full explanation of these categories is included in the guidelines, as well as a list of ineligible items and activities.
Information in the form of guidelines, FAQ’s and a preview of the application form are now available from the QLD Small Business website here. It’s important to prepare your application and attachments early to be ready to apply on the morning the grant portal opens.
The previous Business Basic grant aimed at businesses with a turnover of up to $300k closed in just over 3 hours on the day it opened. This round is expected to close quickly also.
As always, we are here to help if you need assistance preparing your application. Contact us by sending an email to [email protected] or call 0422 374 992.