The Queensland Government is extending the Small Business COVID-19 Adaption Grant Program, meaning your business could be eligible for between $2000 and $10,000 worth of funding to aid economic recovery.

As part of Stage 2 of Queensland’s Economic Recovery Strategy – Unite and Recover for Queensland Jobs, up to $100 million is being made available to deliver a second round of grants, with half of this funding specifically earmarked for regional small businesses located outside of South East Queensland.

Round two will open on 1 July 2020. The objective of this program is to support small businesses subject to closure or highly impacted by the coronavirus (COVID-19) shutdown restrictions announced by the Queensland Government, to adapt and sustain their operations, and build resilience.

The program aims to see small and micro businesses:

• prepare for the safe resumption of trading in the post COVID-19 recovery
• continue to meet operating costs
• access digital technologies to rebuild business operations and transition to a new way of doing business
• respond to online opportunities, where possible, to sustain employment and maintain potential for longer-term growth
• upskill and reskill business owners and staff to benefit from new technologies or business models
• embrace business diversification to adapt and sustain operations
• create or retain employment.

To be eligible, your business must:

• have been subject to closure or otherwise highly impacted by current shutdown restrictions announced by Queensland’s Chief Health Officer on 23 March 2020
• demonstrate you have experienced a minimum 30% decline since 23 March 2020, over a minimum 1-month period due to the onset and management of COVID-19
• employ staff and have fewer than 20 employees at the time of applying for the grant (employees must be on your payroll and does not include the business owner(s))
• have a valid Australian Business Number (ABN) active as at 23 March 2020
• be registered for GST
• have a Queensland headquarters
• have an annual turnover over $75,000 for the 2018–19 or 2019–20 financial year, or you can provide financial records that show this will be met for recently started small businesses
• have a payroll of less than $1.3 million
• not be insolvent or have owners or directors that are an undischarged bankrupt.