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Small businesses in Queensland are being encouraged to apply for new Business Boost grants, allowing eligible businesses to access up to $15,000 for upgrades and organisational improvements.
The grants are part of a $25 million suite of funds under the Big Plans for Small Business Strategy run by the QLD Government.
"The grants can be used for activities such as website development and upgrades, strategic marketing, training and coaching, advisory services and planning for business continuity and succession," says Minister for Employment and Small Business Di Farmer.
Small businesses will share in $2.5 million during the first round of the 2021-22 program, with another round planned for 2022-23. Businesses will need to co-contribute 30 per cent of the total cost of their proposed purchases, with funds to be paid following the completion of the project.
This is in addition to other grants, such as the Business Growth Fund where up to $50,000 is offered to small businesses. Hundreds of applications were also put forward for the Business Basics grant, which offers business owners $5,000.
In order to be eligible for the new boost, businesses must have a turnover of between $300,000 and $600,000 in the last financial year.
"Our current grants programs build on a range of support provided to small businesses impacted by the COVID-19 pandemic including more than 20,400 Small Business COVID-19 Adaption Grants, online training options, a range of rebates, deferrals, and loans and commercial tenancy support from the Queensland Small Business Commissioner."
Applications for the grant will open at 9am AEST on 30 July.
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