Applications are now open for the Small Business Entrepreneur Grants Program (Grants Program) - a Queensland Government initiative aimed at assisting small business owners to establish or develop their business in its early stages. The Grants Program will provide successful applicants with the opportunity to access professional advice and support, with funding of up to $5,000.
Our startups team which includes Partner, Michelle Eastwell and Law Clerk, Frances-Ellen Peak have looked into the Grants Program for you. Here is some more detail including the eligibility criteria and how and when to apply.
What is included in the Grants Program?
The Grants Program allows small businesses to engage a consultant, advisor or business coach to provide legal advice, financial advice, business/strategic planning advice or mentoring. The Queensland Government will grant successful applicants a minimum of $1,000 and a maximum of $5,000 to cover costs for the engagement of such services for up to three months.
To be eligible for the Grants Program, your business must:
- Have a business name (registered within the last four years)
- Have an Australian Business Number
- Have fewer than 20 employees at the time of your application
- Have a project proposal costing more than $2,000
- Be based in Queensland
- Not be insolvent or have owners or directors that are undischarged bankrupts
Additional factors that the Government will consider in applications are:
- The extent that the service will support the establishment and development of the business
- The extent to which the service will enhance the owner's skills and abilities
- Potential business improvements
- Value for money
If successful, the business must provide a project report on completion of the Grants Program explaining how the funds were spent and the impact it has had on the business. The business will also be surveyed within six months of the completion of the Grants Program.
How to apply
To apply, visit the Queensland Government Grants Program page, accessible here. You will be required to set out your project proposal in your application, which must be aimed at engaging a consultant, advisor or business coach. The Government will not fund projects that plan to use funding for staff salaries, travel costs and general business operation costs. Applications for this round of grants close at 5pm on Tuesday, 21 November 2017.