As the May Small Business month wraps up for 2021, three new grants to support small business in Queensland have been announced.
Totalling $25M, the Queensland State Government has announced the Business Basics, Business Boost and Business Growth Fund grants in conjunction with Small Business Month.
“The announcement is more good news for small businesses as they rebuild from COVID,” said Small Business Financial Counselling Service SQ (SBFCS-SQ) CEO, Jenny Whip.
The Business Basics grant program offers funding to new and emerging businesses, Business Boost will support established businesses and the Business Growth fund focuses on evolving and fast growing small and medium sized businesses.
Ranging from $5000 to $50,000 on offer, the suite of grants are designed to improve business outcomes in Queensland.
“The resilience of our small business operators has been evident from the initial stages of COVID and continues to sustain businesses as they adapt and rebuild,” Ms Whip said.
“The Queensland government has been on the front foot all along and by supporting small business with these grants, they are ensuring the sector continues to recover and grow.”
The Business Basics grant program provides up to $5000 in a single up-front fixed grant payment for businesses to increase core skills and adopt best practice. The support includes funded activities in 5 priorities: training and coaching, website build or upgrades, professional business advice, strategic marketing services and business continuity and succession. The grant is administered by the Department of Employment, Small Business and Training.
The Business Boost grant program will commence in mid-July, 2021 with a focus on helping small businesses to improve their efficiency and productivity through organisational development and upgrade through automated software and customer relationship management systems.
The Business Growth Fund targets high-growth businesses to buy specialised equipment to unlock growth potential, increase production, expand their workforce and maximise economic returns with a single up-front payment of $50,000. Successful applications are expected to increase confidence for growth, transitioning from small to medium-sized, increase productivity, turnover, profit and employment by 20% and improve confidence to automate, scale up, increase market share, diversify and/or exploit exporting opportunities. The fund is administered by the Department of Employment, Small Business and Training.
SBFCS-SQ delivers free, impartial, confidential financial counselling programs for small business and primary producers and have seen their service grow and expand as the demand for support continues to strengthen.
The organisation can assist clients in the application process for the grants.
“Our clients are thankful that they can access support from an organisation that is completely impartial with highly skilled financial counsellors.
Our counsellors are passionate about their role supporting businesses that may be going through some challenging times or are looking to thrive into the future,” Ms Whip said.
For more information, call 1300 732 777 or visit www.rfcssq.org.au