The Queensland Government is providing up to $10k in funding 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.
Already many people who have wanted to work with us have requested an estimate from us which meets the criteria outlined, so they can put in an application for this grant.
Matching 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.
To be eligible for this grant, the business must:
- have a minimum trading history of 4 years
- have a minimum turnover of $750,000
- have a maximum headcount of 20 employees at the time of application
- have an Australian Business Number (ABN)
- have Queensland headquarters or significant Queensland operations
- have 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.
The digital technology or service you’re request funding for must relate to one of five priority areas, including:
- digital marketing and social media
- digital content (web pages, mobile apps etc.)
- receiving payments or selling online
- specialised digital technology or software
- digital planning and advice/training.
This grant is targeted at established Queensland-based small businesses that are financially sound and have the potential for high-growth over the next 1 to 2 years. High-growth is generally considered to be a 20% increase in turnover or employment. The participant must have a business plan in place, and the capacity to access finance to fund the growth of their business.
Participating businesses will need to have a clearly defined opportunity and plan for growth, and demonstrate how engaging external advice will allow the business to achieve these goals.
Only 1 application per year will be accepted from an individual ABN or business address.
Applications opened 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 outlining:
- the advice received
- how the advice has been implemented
- the impact on the business
- the results and outcomes achieved.
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.