Over the past few months, there have been a range of funds and grants made available for businesses to help with the fallout of COVID-19. While some of these have closed, we’ve researched a few other avenues that may be of interest, if you’re looking for support to help you weather the storm. Indeed, the question of what grants are available for businesses goes beyond the Coronavirus issue.
For businesses with headquarters in Qld, unfortunately some of the grants previously available have now closed, having experienced understandable demand. There is, however, still support available, some of which are listed below (click through for more information):
- Coronavirus SME Guarantee Scheme
- Electricity relief for small business – a $500 energy rebate for eligible businesses
- Coronavirus land tax relief – a range of options for relief
- Payroll tax relief
- Loans for tourism, export and education businesses
There is also an information page available on the Qld Business website, with links to relevant resources.
In big news, the Qld Small Business COVID-19 Adaption Grant Program closed its first round, but is reopening again on July 1, 2020. Act fast to get into this round and contact us for assistance.
New South Wales-Based Businesses
Businesses with headquarters in NSW can apply for a $10k Small Business grant offered by the NSW Government. The structure was established to address challenges presented by the bushfires earlier this year, and adapted to help businesses affected by Coronavirus and the unusual situation in which they find themselves.
There are, of course, criteria that must be met, including the following and more:
- have between 1-19 employees and a turnover of more than $75,000
- a payroll below the NSW Government 2019-20 payroll tax threshold of $900,000
- have an Australian Business Number as at 1 March 2020, be based in NSW and employ staff as at 1 March 2020
Businesses Around Australia
Businesses based around the country can check out the grants page on business.gov.au and run a search based on your business, location, your goals, and other criteria. This is a great way to find grants and programs you may not otherwise have seen. You simply enter your postcode, industry and the things you’d like to achieve and the engine will suggest grants you may wish to consider.
There was also a grant available from Small Business Organisations Australia, which has also now unfortunately closed.
How can QC Accountants Help?
We’re here to help you work through things, for anything related to your finances. As your accountant, we can help you with the financial side of any grant application you make, providing reporting and projections to help your business put its best foot forward.
We are available on email ([email protected]) or telephone (07 5593 6060).