What is the COSBOA Small Business Relief Fund?

The COSBOA Small Business Relief Fund is a grant to help assist businesses on the pathway to recovery after the temporary closures and restrictions resulting from COVID-19. Cashflow is an issue for many smaller businesses.

 

Background

The Council of Small Business Organisations Australia, known as COSBOA, is offering grants to Australian small businesses adversely affected by the Coronavirus (COVID-19) pandemic. These grants are made possible by Salesforce.

These funds are aimed at supporting initiatives by small businesses as they adapt and innovate to emerge from this challenging period in a strong position. Such initiatives could include: re-purposing or re-modelling workspace, redesigning your business processes, new approaches to marketing, creating a new or upgraded digital presence, acquiring new software or equipment for a specialised service, or anything else that is aimed at securing or growing your business into the future.

 

Funding

The COSBOA Small Business Relief Fund will be offered as a ‘one off’ payment of $10,000 (including GST) to 67 businesses across Australia.

 

Key aspects to focus on

  • Impact – Describe how the COVID-19 pandemic has impacted your business (limit of 400 characters) *
  • Innovation – Describe what change or innovation you would make to your business using a Small Business Relief Grant (limit of 1500 characters) *
  • Sustaining – Describe how that change or innovation will assist you in sustaining your business beyond the current crisis and how it would allow your business to revive and thrive (limit of 1500 characters) *

 

Eligibility

The COSBOA Small Business Relief Fund is intended to help support certain small businesses in Australia who need assistance due to adverse economic effects of Coronavirus (COVID-19). To be eligible for the COSBOA Small Business Relief Fund, Applicants must successfully pass a background criminal history check and be a Representative of a for-profit business that:

  • from 1 March 2020 to the time of application submission employed no fewer than two (2) and no more than fifty (50) full or part-time employees;
  • is located in Australia
  • can promptly provide all documentation requested by Company to show proof of business status;
  • has been negatively affected by Coronavirus (COVID-19);
  • has not received more than $1,000 in non-governmental grants related to Coronavirus (COVID-19);
  • is not under bankruptcy protection or subject to judicial liens or attachments;
  • as of 1 March 2020 did not have outstanding debt exceeding $100,000 (excluding debt related to the business’s lease or mortgage, current payroll, accounts receivable credit line, or venture debt);
  • does not promote, sell, or advertise any products, ideas, or services that fail to comply with all applicable laws, acts, regulations, rules and ordinances;
  • is not under current governmental investigation nor currently a party to a civil or criminal matter;
  • has not been held liable or convicted in a civil or criminal matter;
  • is not a franchise, franchisee, chain business, or bar;
  • has been in continuous operation for two years prior to 1 March 2020
  • maintains a website and/or other digital presence;
  • reported annual revenue between $150,000 and $2,000,000 in its most recent tax statement;
  • is not owned (in whole or in part) by any individuals who are an employee of the Program Entities (including the Program Entities’ respective subsidiaries and affiliates) or a person engaged in the administration, selection or judging process for this Grant Program, nor any family members or household members of same; and
  • has not at any point since March 1, 2018 employed:
    • any individuals who are or were an employee of the Program Entities (including their respective subsidiaries and affiliates);
    • anyone involved in administering the Grant Program; or
    • any family or household members or household members of the same

 

Timing

Applications close 1 June 2020.

 

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