Up to $10,000 is available from Accelerate Small Business Grants to assist small businesses hire mentors, coaches or an advisory board to help them grow their business.
Accelerate Small Business Grants
The Accelerate Small Business Grants Program provides targeted assistance to small businesses that demonstrate high-growth and employment aspirations to enable them to engage high-level expertise for their business.
The Queensland Government through the Office of Small Business (OSB), Department of Tourism, Major Events, Small Business and the Commonwealth Games (DTESB) made these grants available to help eligible small businesses engage business mentors, coaches or an advisory board for a six to twelve-month period.
The objectives of the Accelerate Small Business Grants program are to:
- enable small businesses to grow and employ more Queenslanders
- increase the capabilities of small business owners
- improve business confidence and sustainability
- assist small businesses grow to medium-size businesses
- enable more small businesses to embrace new opportunities.
The engagement of a mentor, coach or advisory board for a period of 6 to 12 months will be considered to be a “project” for the purposes of this program.
Matching funding of up to $10,000 (excluding GST) may be provided to eligible businesses to engage business mentors, coaches, or an advisory board, for 6 to 12 months. The funding must be matched by a cash contribution from the participating business.
Two grant payments will be made directly to the business, with 50% paid on approval and a further 50% paid on successful completion of the project.
Participating businesses will need to have a clearly defined opportunity and plan for growth, and demonstrate how engaging external advice will allow the business to achieve these goals. It is expected that participating businesses will be seeking support to manage and finance their business expansion, including but not limited to:
- increasing employment
- improving management processes and systems to increase productivity and efficiency
- introducing product processes or systems innovations
- entering new markets
- increasing turnover/sales.
To be eligible for this grant, the business must:
- have a minimum trading history of 4 years
- have a minimum turnover of $750,000
- have a maximum headcount of 20 employees at the time of application
- have an Australian Business Number (ABN)
- have Queensland headquarters or significant Queensland operations
- have competitive opportunities in domestic or international markets
- be experiencing growth and have clearly defined high-growth opportunities
- declare if any owners or directors of the business are, or have previously been, bankrupt or insolvent.
This grant is targeted at established Queensland-based small businesses that are financially sound and have the potential for high-growth over the next 1 to 2 years.
Only 1 application per year will be accepted from an individual ABN or business address.
Applications close 20 June 2018.