Small Business Grants Now Available

Posted on Tuesday, November 15, 2016

The Queensland Government is providing $3 million in grant funding over three years to established Queensland-based small businesses to engage business mentors, coaches, or an advisory board, for 6 to 12 months.

The Accelerate Small Business Grants Program provides targeted assistance to small businesses that demonstrate high-growth and employment aspirations, to engage high-level expertise for their business.

Available Funding

Matched funding of up to $10,000 (excluding GST) may be provided to eligible businesses to engage business mentors, coaches, or an advisory board, for 6 to 12 months. The funding must be matched by a cash contribution from the participating business.

Two grant payments will be made directly to the business, with 50% paid on approval and a further 50% paid on successful completion of the project.

Eligibility Criteria

Only one application per year will be accepted from an individual ABN or business address. To be eligible for this grant, the business must have:

* a minimum trading history of 4 years

* a minimum turnover of $750,000

* a maximum headcount of 20 employees at the time of application

* an Australian Business Number (ABN)

* Queensland headquarters or significant Queensland operations

* competitive opportunities in domestic or international markets

* be experiencing growth and have clearly defined high-growth opportunities

* declare if any owners or directors of the business are, or have previously been, bankrupt or insolvent.

Important Dates

Applications open on 25 October 2016 and may be lodged until the annual budget is fully allocated. At this time, the round will close and a new round will open at the beginning of the next financial year. The participating business must provide a progress report after 3 months and a final report on completion of the project. Businesses will be surveyed 12 months after the completion of the project.

Who Should Apply:

It is expected that participating businesses will be seeking support to manage and finance their business expansion which may include, but is not limited to:

* increasing employment

* improving management processes and systems to increase productivity and efficiency

* introducing product process or systems innovations

* entering new markets

* increasing turnover/sales.


Before applying, please read the Accelerate Small Business Grants Program Application Guidelines here.

For further information about the program and application process, refer to the guidelines or call 13 QGOV (13 74 68)

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