$5M to assist Queensland small businesses

$5M to assist Queensland small businesses

Business Basic Grants return with $5M to assist Queensland small businesses

The Palaszczuk Government has announced a new round of its popular Business Basics grants will open soon, with $5 million available to small businesses.

Minister for Employment and Small Business Di Farmer said the $5000 grants will support business owners to develop their skills and adopt best practice.

“Queensland’s small businesses are a driving force for our communities and economy and we will be allocating $5 million in in this round of grants, so 1000 hardworking Queensland small businesses stand to benefit,” Minister Farmer said.

“Business Basics grants are an investment in local small businesses; supporting them to improve the foundational skills that will help their day-to-day operations and set them up for future growth.

“These grants have proven very popular and were made permanent in this year’s budget.

“We have listened to feedback from small businesses on streamlining the application process and make it easier to access.

“Grants will be awarded through a two-stage process starting with businesses registering their interest to apply by completing a simple, online form that collects basic business information. Then businesses will be selected by a ballot to complete the remaining application process.

“This process ensures all small businesses that are interested in this grant have an equal opportunity to apply and reduces the stress from applying as businesses can register their interest at any time once registrations open.”

“The Guidelines for this new round of grants are now available and small businesses are encouraged to put forward registrations of interest in the first stage of the application process after they open on 24 November.

Minister Farmer said it is critical that we make sure our regional small businesses are well supported, which is why around $1.5 million will be allocated to support businesses outside of South East Queensland through this next funding round.

“Through the past three completed Business Basics rounds, 4195 grants totalling more than $20.9 million have been awarded so far,” Minister Farmer said.

“These grants have supported businesses to upgrade websites, engage a business coach or other professional advice, improve their marketing or other aspects of their operations.

Minister Farmer said grants are available for cybersafety training and tools, which is very topical right now given the recent Optus and Medibank data breaches.

“More than half the successful applicants in past rounds have aimed to increase their on-line capacity, digital presence and/or cybersecurity capacity. The grant offers small businesses a great opportunity to protect themselves and their customers.

“Ensuring businesses have the knowledge and confidence they need to improve their operations, flows on to better serve their customers or clients, generates more work for their suppliers and grows their local economies.

“Small businesses deliver a fantastic range of goods and services across Queensland. So far these grants have gone to the businesses in the Torres Strait, Western Queensland and up and down the coast. They have supported businesses in a range of industries, including engineering and fabrication firms, tourist and hospitality operations and the Royal Theatre Winton,” she said.

Brisbane-based financial planning company, Financial Priorities received a grant in the last round for a full system audit of processes for cyber security and business continuity.

Managing Director Jade Dawson said the grant enabled the company to upskill in the best practices for the safe storage and use of sensitive client information methods to help prevent cyber fraud and data breaches.

“This will allow us as a company to ensure all existing and new staff are trained to the required level before problems occur, which is essential given the client information we must store to manage their finances” he said.

Minister Farmer said this Business Basic round is part of $39.1 million the Palaszczuk Government has committed over the next four years for small business grants and other support to help small businesses, whether they are just getting up and running, or are more established and are looking to pursue new opportunities.

“These are just part of the support the Palaszczuk Government is delivering to develop our small business sector,” Minister Farmer said.

“Our Business Launchpad is making the pathway to start a business anywhere in the state easier, by identifying the different local, state and federal government requirements entrepreneurs will need to address in different industry areas.

“Mentoring for Growth matches small businesses with volunteer small business experts who provide insights and suggestions on tackling challenges or improving growth and development plans.

“The Business Queensland website provides a range of information covering starting and running a business, including resources to support mental health among owners and staff.”

Registrations of interest for this fourth round of Business Basics Grants will be open from 9am on Thursday 24 November until 11.59pm on Monday 5 December 2022.

Eligible businesses who have been successful in the ballot will be invited to submit their funding application from 9am on Monday 12 December 2022 and will have until Monday 23 January 2023 to apply.

Minister Farmer said businesses looking to improve their operations can subscribe to Small Business Connect for updates on the next steps for this round of Business Basics by visiting https://www.business.qld.gov.au/starting-business/advice-support/grants/schedule or calling 1300 654 687.

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