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The Queensland government has announced an additional $100 million package to help small businesses adapt to the effects of COVID-19.
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Queensland rolls out $10k grants for small businesses
22 May 2020
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9 minute read
Small businesses in Queensland can now apply for a grant of up to $10,000 as part of the local government’s economic recovery strategy.
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The new package, worth $100 million, will see $96 million dedicated to small-business grants, with the remaining $4 million going towards new training for business.
Similar to the $750 million package announced by the NSW government in April, the grants will help Queensland small businesses cover financial and legal advice as well as business costs including marketing.
Grant applications are now open and will close once funding has been exhausted. A total of 5,947 applications amounting to 60 per cent of the $100 million package has been put forward as of 22 May.
Business applying for the grant will have to meet strict eligibility criteria, including demonstrating significantly impacted revenue turnover since 23 March due to the onset of COVID-19.
Businesses must also have an annual turnover over $75,000 for the last financial year, have fewer than 20 employees and have a payroll of less than $1.3 million.
“The grants can also be used to buy specialised digital equipment or business-specific software to help move the business online,” Minister for Employment and Small Business Shannon Fentiman said.
“Many events, workplaces, classes and sales have moved online and small businesses need to make sure they have the tools and resources to be competitive in these challenging times.
“We also realise that businesses may not currently have the financial resources to co-fund, so we won’t require matched funding which will better support our local businesses.”
Queensland Premier Annastacia Palaszczuk said the grants program has been developed to help businesses forced to hibernate, to restructure or to significantly change their business operations.
Ms Palaszczuk said it is part of the state government’s recovery roadmap, which has already seen the appointment of a temporary small business commissioner.
“We know small businesses have been doing it really tough due to the pandemic,” Ms Palaszczuk said.
“With the first stage of our recovery roadmap in place, we want to make sure our thousands of small businesses have the support they need to recover and keep Queenslanders in jobs.
“These grants will provide immediate support to help them get back on their feet and come out stronger on the other side.”
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