Starting a small business can be an incredibly stressful and difficult process. A significant number of small businesses fail in the first few years of operating, due to a lack of market share, funding and growth. Fortunately, there are now a number of grants and programs provided by the Queensland Government which provide assistance to new small businesses looking to establish themselves. To make it easy for you, we’ve compiled a list of the most useful grants, so you’re able to assess which is most relevant for your business.
Small Business Entrepreneur Grants Program
The Small Business Entrepreneur Grants Program can assist new small businesses to access professional advice and support in the critical early stages of establishing a business. The grant provides funding of up to $5,000 to facilitate the engagement of a consultant, advisor or business coach for up to 3 months to help establish or develop the business.
To be eligible for this grant, your business must:
- have a business name registered within the last 4 years
- have fewer than 20 employees at the time of applying for the grant
- have an Australian Business Number
- have Queensland headquarters
- not be insolvent or have owners/directors that are an undischarged bankrupt.
Find out more here:
Business Growth Fund Program
The Business Growth Fund Program is a grant program which provides targeted assistance for small and medium businesses that demonstrate high-growth and employment aspirations. Successful applicants will be provided with funding to purchase and implement specialised equipment or services to help them seize growth opportunities.
To find out if you are eligible for the Business Growth Fund, click here:
Small Business Digital Grants
The Small Business Digital Grants Program can assist small businesses with accessing digital technologies and services to help them work smarter, engage with the global economy and make the most of online business opportunities arising from digital disruption. The grant provides up to $10,000 in funding for the purchase of hardware, software and services to assist the business. Eligible business must display evidence of how the technology purchased will enhance the digital capabilities of their business.
To find out if you’re eligible for the Small Business Digital Grant, click here:
CSIRO Kick-Start is a new initiative for innovative Australian start-ups and small SMEs, providing funding support and access to CSIRO’s research expertise and capabilities to help grow and develop their business. The program offers eligible businesses access to dollar-matched funding of $10,000-$50,000 to undertake the following research activities with CSIRO:
- Research into a new idea with commercial potential.
- Development of a novel or improved product or process.
- Test a novel product or material developed by the company.
To find out if you’re eligible for the CSIRO Kick-Start, click here:
Queensland Government Grant Finder
Didn’t find any of these grants helpful? Don’t worry! The Queensland Government provide a free grant finder which allows you to customise your search to find which of their options is available to you.
Our Grant Writing Tips
When applying for highly competitive grants and programs such as these, it is imperative to prepare adequately before applying. The standard of your proposal will likely determine whether or not are successful in gaining funds, so it critical that your proposal sells the business in an exciting way.
Below, we have compiled a list of business grant application tips to assist you with this process.
1. Ensure applications are open and your business is eligible
It is important to confirm that the grant you are applying for is currently accepting applications and that your business is eligible. This information can generally be found on the home page of the grant. It is important to confirm this information before preparing your application to ensure that no time is wasted.
2. Carefully read the details of the grant and prepare you application accordingly.
Ensure that your application covers all of the requirements from the website and all the necessary forms or instructions are read and completed.
3. Put yourself in the funder’s shoes.
When you are passionate about your business it is difficult to step outside of the ‘bubble’ and see your business from a different perspective. It is important to envision your business from the funder’s perspective. What do they need to know about your business? What are they looking for in this grant? Answering these questions will provide clarity for your proposal.
4. Be clear and concise
It is likely that the person or panel reading the proposal will have read hundreds of similar proposals. Therefore, it is important that your proposal is concise and clearly provides the reader with all of the important information about your business without rambling.
5. Proofread your proposal!
Make sure that your proposal flows, avoids repetition and does not include any spelling or grammatical errors before submitting it.
Business Kitz provide comprehensive, reliable and easy-to-use Australian legal and business templates prepared by industry professionals.
The above information may have been been collected from relevant government or other sources and is subject to change. For the latest information regarding new or amended legislation, please refer to state and federal government websites.