The Queensland Government is extending the Small Business COVID-19 Adaption Grant Program. As part of Stage 2 of Queensland’s Economic Recovery Strategy – Unite and Recover for Queensland Jobs, up to $100 million is being made available to deliver a second round of grants, with half of this funding specifically earmarked for regional small businesses located outside of South East Queensland.
Round 2 will open on 1 July 2020.
Many of us have been caught out with the round 1 closing too early due to oversubscribing within couple of days. Do not despair but be prepared and get all your paperwork organised!
If you need some quotes done, get them done now so they are ready to go.
Bring your accounts up to date to have supporting figures for your decline in turnover.
Are you eligible?
The criteria seem to be same as for round 1. To be eligible, your business must:
demonstrate you have experienced a minimum 30% decline since 23 March 2020, over a minimum 1-month period due to the onset and management of COVID-19
employ staff (at least 1) 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.
