News & Insights

*Please note, the Small Business COVID-19 Adaption Grant has now closed. 

The Queensland Government has launched a new grant aimed at assisting small and micro businesses get back on their feet post COVID-19. The grant offers up to $10,000 and will be provided to applicants on a first in, first served basis.

According to Business Queensland, the objective of this grant is to support small businesses highly impacted by COVID-19 restrictions to adapt and sustain their operations and build resilience. Accordingly, these funds can be used for a variety of tasks, including strategic legal advice on issues such as:

• brand protection advice, including trade mark applications;
• business restructuring, sustainability and diversification;
• commercial agreements, including loans and refinancing;
• taxation;
• growing your business;
• digital/technological strategy development, including moving your business online or expanding its online capabilities;
• meeting COVID-19 SAFE requirements for employees returning to work;
• leasing and property acquisition; and more.

For the complete list of what the payment can be used for and the eligibility guidelines, please click here. 

The COVID-19 restrictions have forced some small businesses to become adaptable and re-consider their existing operational models, often very quickly and in stressful circumstances without the means to obtain proper professional advice. Others have been left with no option but to close and try to ride out the storm.

This grant will enable small businesses to obtain the professional advice they may need (whether that be from lawyers, accountants, business coaches etc) to ensure their business can recover effectively from COVID-19 restrictions. It will also allow businesses to perhaps embark on a project that otherwise would have been in the current economic situation.

Alternatively, for those small businesses that have little to no cashflow for general operating costs, the grant can also be used to meet day to day business costs, so that small business can remain operational until trade returns to normal.

eligibility criteria for the grant includes:

• having been subject to closure or otherwise highly impacted by current shutdown restrictions (including demonstrating that business revenue has been significantly impacted since 23 March 2020)
• employing staff and have fewer than 20 employees at the time of applying for the grant
• having a valid Australian Business Number (ABN) active as at 23 March 2020 and being registered for GST
• having a Queensland headquarters
• having an annual turnover over $75,000 for the last financial year
• have a payroll of less than $1.3 million
• not be insolvent or have owners/directors that are an undischarged bankrupt.

If you meet the eligibility criteria and would like assistance with the grant or have further questions, please get in touch for further information.

applications are open now, so act fast to ensure you don’t miss out!

The information contained in this article is general in nature and cannot be relied on as legal advice nor does it create an engagement. Please contact one of our lawyers listed above for advice about your specific situation.