Round 2 Small Business COVID-19 Adaption Grant Announced – Up to $10k

The Queensland Government is extending the Small Business COVID-19 Adaptation Grants Program.  Round 2  will open on 1 July 2020 for grants up to $10,000 for small and micro businesses that were subject to closure or highly impacted by COVID-19 shutdown restrictions, to adapt and sustain their operations, and build resilience.

In recognition of the significant impact of COVID-19 on small businesses, the funding can be used towards:

  • 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
  • Capital costs associated with meeting COVID-19 SAFE requirements
  • Meeting business costs, including utilities, rent
  • Plus marketing and communications activities, digital/technology development, digital training and equipment

To be eligible, the business must:

  • have been subject to closure or highly impacted by current shutdown restrictions announced by Queensland’s Chief Health Officer on 23 March 2020
  • demonstrate that your business has 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 this grant (employees must be on your payroll and does not include business owner/s)
  • have a valid ABN active as at 23 March 2020
  • be registered for GST
  • have a Queensland headquarters
  • have an annual turnover over $75,000 for the 2019 or 2020 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/directors that are an undischarged bankrupt
  • you did not receive any funding from Round 1

Grants can be used towards any of the above activities from 23 March 2020 onwards, keeping in mind the project must be completed within a 6 month period from the date of approval.

Round 2 will open on 1 July 2020 and applications will be processed on a “first come, first served” basis, and therefore not all applications will be successful. Funding for Round 2 is being equally divided between regional Queensland and South East Queensland (SEQ).

http://www.business.qld.gov.au/starting-business/advice-support/grants/adaption

Care4Wealth provides specialist loan, insurance and financial planning services to small businesses, professionals & families. Call 1300 822 902 for a no obligation discussion on how we may be able to assist you or your business.  

As a local business Care4Wealth Pty Ltd is a Corporate Authorised Representative of GPS Wealth Ltd, ABN 1700548226 & Credit Representative No 523052 authorised under Australian Credit Licence 389328