Business Grants are available to growing businesses

By Steve Marsten

There is not a better time then now to be a small business! Right now the Queensland Government has several funding programs available to assist small business to grow and accelerate. The State Government is providing $3 million in grant funding over 3 years to established small businesses to engage business mentors, coaches, specialist consultants or an advisory board, for a 6 to 12 month period. This is a great opportunity for sole traders and partners to take the loneliness out of small business. It helps build ideas or put them into practice with professional guidance. It helps with continuity and sustainability.

The Program allows for targeted assistance to small businesses that demonstrate high-growth and employment aspirations, to enable them to engage high-level experts and strategic advisors and thinkers to work closely with them in their business.

Funding of up to $10,000 (excluding GST) may be provided to eligible businesses to engage business professionals. The funding must be matched by a cash contribution from the participating business. So its $1 for $1 or a 50% discount for such services.

To be eligible for this grant, the business must:

• have a minimum trading history of 3 years at the time of application

• have a minimum turnover of $500,000 in the previous 12 months

• have a maximum headcount of 20 employees at the time of application

• have an Australian Business Number (ABN) and be registered for GST

• have competitive opportunities in domestic or international markets

• have growth opportunities

Growth is important to your business plan and businesses with a goal to have a 20% increase in turnover or employment are best placed to be successful for this grant.

Only 1 application per year is accepted from an individual ABN or business address. Note - this is not the only funding available either. Business owners should check out the Small Business Digital Grants Program as well. This grant provides small businesses with access to digital technologies and services to enable them to work smarter and engage with the global economy while making the most of online business opportunities arising from digital disruption.

At Sothertons we have assisted many businesses to obtain government grants. For any assistance or questions feel free to call us on 0749 721300.