Other than the COVID19 support, the government of Queensland recognizes the impact small business have on the local and national economy. While big businesses may receive much of the credit for creating jobs, innovating, and fostering economic development, the reality is that small businesses are the backbone to Queensland's local economy. Representing over 97% of businesses throughout the state, small businesses are responsible for employing 44% of Queensland's private sector workforce.
By both facilitating the activities of larger business and fulfilling unique gaps in the market, small business are the key to a truly robust local economy. For this reason, the government of Queensland offers a diverse array of tools to encourage resourceful people to start small businesses and to help those business succeed.
One such tool is the Small Business Month Grant. This article aims to help readers understand the program's specifics so they may determine whether it can help their small business grow.
Queensland Small Business Month is set to run from Friday, 1 May 2020 to Sunday, 31 May 2020. Small Business Month Grants are designed to encourage businesses to host an event as part of Small Business Month. Through this program, the government seeks to bring together leaders in the local small business community and industry experts to learn from each other in order to improve products and services across all sectors of the local economy. It is important to note, however, the grants are designed to reimburse businesses for the expense of hosting an event. They do not provide up-front funding.
This year, the government is offering 6 type of grants.
Business Growth Fund
The Business Growth Fund seeks to help established businesses move their operations to the next level. The Fund offers up to $50,000 for businesses to make capital investments in specialised equipment in order to take advantage of opportunities for growth.
Participants in this program must provide 25-50% of the total project cost. An assessment panel then determines the government's contribution.
This program aims to provide assistance to gourmet food producers to help them grow their businesses, access new markets, and seize new opportunities. Recognizing Queensland consumers are becoming increasingly interested in gourmet food, this program provides up to $5,000 of funding for producers to engage consultants, mentors, and other experts to help them grow their businesses.
This program recognizes that no business can succeed in the modern economy without reliable access to modern technology. For this reason, the program provides up to $10,000 of matching funds for small business to invest in hardware, software, and digital services so that they may take full advantage of the global economy in the digital age.
This program provides assistance to small businesses located in North and Far North Queensland that were impacted by monsoons. Funded jointly by the Queensland and Australian governments, this programs aims to help businesses recover from disaster by engaging experts to guide them through the rebuilding process so they may return to business even stronger than before.
Small Business Disaster Recovery Grants
Small Business Entrepreneur Grant Program
This program recognizes that the early stages of starting a business are often the most difficult and most critical. For this reason, the Small Business Entrepreneur Grant Program offers up to $5,000 for eligible business to engage consultants to help guide them through these critical early stages of business development.
This program targets those business, both non-profit and for-profit, that seek to address cultural, social, and environmental issues. The program provides $5,000 to $50,000 in funding for business to engage experts to help them test ideas and utilize available technologies in order to better achieve their community-oriented missions.