Are you ready to compete in the digital age?
The Queensland government’s ‘Small Business Digital Grants Program’ is now in full swing and local businesses are already benefiting from it. In case you hadn’t already heard, they’re giving away grants of up to $10,000 to help small businesses capitalise on the opportunities created by digital technologies.
What can you spend the grant on?
The government says your grant should be spent on, ‘Technology that helps you work smarter, engage with the global economy and make the most of online business opportunities arising from digital disruption.’
Matching funding between $1,000 and $10,000 (excluding GST) is being granted for:
- Improving your business’ digital capabilities
- New hardware or upgrades to your current systems
- New software or upgrades to existing programs
- Training or coaching in digital technology
What’s the catch?
No catch really, but you must show that the technology or services you’ve bought will:
- Enhance the digital capabilities of your business;
- Help your business be more competitive; and
- Employ more staff.
That means you’ll need to supply the government with a thorough project report on completion. Your report should detail how the grant was spent and the impact it’s had on the business.
Who can apply?
Your business is eligible to apply for a grant if:
- You had fewer than 20 employees when you applied for the grant
- You are registered for GST
- You have an Australian Business Number (ABN)
- Your business is based in Queensland
- Your business had a turnover of $2 million or less in the last financial year
You will also have to declare if any owners or directors of the business are an undischarged bankrupt or insolvent.
Who should apply?
All Queensland-based small businesses can apply. The business must show that the digital technology or service purchased will enhance the digital capabilities of the business and help them to be more competitive.
Show me the money!
Once approved, the payment process is pretty easy. The government will pay the business directly on completion of the project. The payment value will even be increased to compensate for any GST. You’ll just need to present them with proof of payment for the products or services. Businesses will also be surveyed 12 months after the completion of the project.
The government will open its next round of grant applications soon and continue to do so periodically throughout the year. So while you can’t just go ahead and apply any old time, you can start to prepare your application now.
Visit the Queensland Small Business Grants Website here to sign up for the government’s newsletter which will let you know when then next round of applications will open.
If you prefer to use the phone, you can find out more about the grants by calling 13 QGOV (13 74 68).