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Business Boost Grants

ByLindsay Arceo

How would you like to receive a $15000 Business Boost Grant?

The Queensland Government, through the Department of Employment, Small Business and Training (DESBT) has announced this grant recently in support of advancing the improvement in the efficiency and productivity of small businesses.

Three (3) project areas of focus for this grant

Future Planning of the business
Specialised and automated software
Staff management, development, and planning
Here’s the catch.

The successful applicants must co-contribute at least 30% of the total project cost
Grant funding is paid after completion of the project and only after compliant acquittal documentation is received
The table below shows the breakdown of total project costs and the co-contribution amounts.

 MinimumMaximum
Total project costs (excluding GST)$10,715$21,429*
Your contribution (at least 30% of total project costs)$3,215$6,429*
Grant funding (post project)$7,500$15,000

 

*The project can cost more than $21,429 but the maximum amount DESBT will contribute is $15000.

Applications to the grants are managed under a two-stage application process

Stage 1: Registration of Interest (ROI)

* Opens on 12 August 2022 at 9:00 a.m.

* Closes on 19 August 2022 at 11:59 p.m.

Stage 2: Through a ballot process, several businesses will be selected and invited to complete a full application. All valid registrations of interest will have an equal opportunity of being selected.

Once selected, the business invited will have 2 weeks to complete the full application.

The full application timeline:

* Open for submission on 29 Aug 2022 at 9:00 a.m.

* Closing date on 12 September 2022 at 11:59 p.m.

For more detailed information on the application process, please follow this link $15000 Business Boost Grant application

As always, Magnus is here to assist you should you need help in submitting your application. Please contact:

Katie Walters

Senior Client Manager

Magnus Business Advisers and Accountants

(07) 3102 2856

Email: [email protected]

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