Whether you’re starting a business or have already been in the field for a while, funding can be a pain – especially for small businesses. So luckily the Queensland Government provides grants for a multitude of different things, making the process a bit easier for the small business owner. We’ve compiled a small list of options that might be worthwhile looking into.
Small Business Digital Grants Program
The Small Business Digital Grants Program supports small businesses by giving them the opportunity to apply for grants for digital technologies and services – such as new hardware, or the employment of a digital agency for the training of staff. The aim of the program is to ensure that small businesses have access to technology and services to help them enhance performance through digital capabilities.
This grant program can fund up to $10,000 worth of hardware, software and services for the digital advances of your business, with a minimum of $1,000. The company applying to the grant will have to show that their purchased technology or service is helping them become more competitive within their field and is helping them to employ more staff.
The grant program is currently in its fourth cycle and the deadline for application to this cycle is set for April 11th, at 5pm.
Accelerate Small Business Grants Program
The Accelerate Small Business Grants Program is set up to assist small businesses with high-growth and employment goals, that lack the funding to ascertain this themselves. The grant allows small businesses to hire a business mentor or coach to get targeted assistance for a 6 to 12-month period.
The grant is meant for Queensland based businesses that are financially sound, have the potential to experience considerable growth in the next 2 years, and have a clearly defined plan that demonstrates how the mentoring will allow the business to achieve set goals. The program can fund up to $10,000 worth of coaching or mentoring.
The deadline for application to this grant program is set for March 27th, 5pm. After this deadline, the grant program will be replaced with the Business Growth Fund, which funds up to $50,000 – so definitely check that one out!
Small Business Entrepreneur Grants Program
The Small Business Entrepreneur Grants Program is very similar to the Accelerate Program mentioned earlier, the difference between the two being that this grant focusses on starting small businesses. The grant provides funding for advice on organisational issues such as professional business, strategic planning, market research, and legal advice.
The Entrepreneur Grant will fund up to $5,000 worth of advice services, with a minimum funding amount of $1,000. Keep in mind, the grant does not fund projects that have a lower total cost than $2,000. Neither will they cover projects that have an expected timeline exceeding 3 months.
It is currently not possible to apply for the Small Business Entrepreneur Grants Program, as the second round of applications has closed. The opening of the next cycle is yet to be announced.
Are you eligible for one of these Small Business Grants?
- Does your company have fewer than 20 employees at the time of applying?
- Does your company have an Australian Business Number (ABN)?
- Is your company based in Queensland?
- Is your company registered for Goods and Services Tax (GST)? Not applicable to the Small Business Entrepreneur Grant.
If the answer to all these questions is yes, your company might be able to apply for said grants.
Check the Queensland Government websites for detailed information and all the terms and conditions applicable.