Well... we called it! Today the Qld Government announced the SECOND ROUND of $10K Business Adaption Grants will open on the first of July! This is brilliant news for those who missed out the first time round and didn't manage to get their application in on time.
Here's the low down on the new grant release:
When do they open?
It opens on July 1st which means you've got two weeks to organise the info you'll need and also get the proposals/quotes together for what you want to invest the $10,000 into to adapt your business to 'the new normal'
If got approved for the round 1 grant, can I go for round 2?
No. If you were successful in applying for round 1 (high five!) but you can't double dip. If you applied for round 1 but were unsuccessful or haven't heard back yet, yes you can apply for round 2.
What is the eligibility criteria?
have been subject to closure or otherwise highly impacted by Covid-19
demonstrate you have experienced a minimum 30% decline since 23 March 2020
employ staff and have fewer than 20 employees at the time of applying for the grant (employees must be on your payroll and does not include the business owner(s))
have a valid Australian Business Number (ABN) active as at 23 March 2020
be registered for GST
have a Queensland headquarters
have an annual turnover over $75,000 for the 2018–19 or 2019–20 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 or directors that are an undischarged bankrupt.
The Govt. has actually created an eligibility tool! Jump onto https://www.business.qld.gov.au/starting-business/advice-support/grants/adaption#eligibility to check it out.
What can you use the grant for?
Essentially things that will help your business adapt and succeed in the current climate. We may be biased but we vote to invest it into growth strategies and marketing to help you to build your business now! You can invest into things like:
a new website
a marketing strategy
a brand refresh
social media strategy + content management
social media education for you or your team
and so much more.
When should you start getting ready?
Now. If round 1 is anything to go by, the grants will hit peak applications within 24-48 hours so start preparing now by gathering your quotes and getting your financial data together. Check out the Grants website here.
Interested in getting a proposal together to submit with your application? Contact us now