21 November 2018

Get a grant to boost your small business

A new round of the Small Business Entrepreneur Grants Program has just opened on 15 November.  The program offers grants of up to $5,000.00 to relatively new small businesses to obtain training, advice and services in the following categories:

  • mentoring/coaching;
  • business and strategic planning;
  • professional business advice (information technology (IT), legal or financial); and
  • marketing strategy development (branding strategies, social media/digital strategies, market research).

The grant is for “matched funding” on a reimbursement basis, so business owners are required to pay for the full cost of the project, and then will be reimbursed for 50% of those costs.  You are not required to commit to the project before you know the outcome of your grant application.  The minimum grant is $1,000.00 and maximum $5,000.00, so it follows that the project cost needs to be between $2,000.00 and $10,000.00.  The project must be finished within three months of approval of the grant.

Eligibility criteria

To be eligible, the business must:

  • have a business name registered within the last four years;
  • have fewer than 20 employees at the time of applying for the grant;
  • have an active Australian Business Number (ABN);
  • have a Queensland headquarters (main place of business in Queensland, as registered on its ABN); and
  • not be insolvent or have owners/directors that are an undischarged bankrupt.

Applications are open from now until 13 December 2018.  More information is available here.

How the grant can help

Starting out in business can be difficult.  Most people start out with a great idea, a bucket load of enthusiasm, but not a lot of business knowledge.  There is a lot to do, a lot of bills coming in and often not much revenue in the early stages.  Unfortunately seeking professional advice and assistance is often a low priority and unnecessary expense, but this advice can make the difference between success and failure.  The small business entrepreneur grant offers the opportunity to address some of the things which you probably have not had the time or money to do, and to put your business on a solid footing to be successful in the longer term.  It allows the opportunity to put together a package of services from multiple disciplines to further develop and enhance your business.

How we can help

Here are a few ways in which we can help:

  • business structuring advice, including partnership agreements and shareholder agreements;
  • preparation of trading terms and credit applications;
  • preparation of employment agreements and associated policies;
  • reviewing your employment arrangements to ensure that your employees are correctly categorised, the correct award is being applied and you are paying correct wages;
  • confidentiality agreements and protection of intellectual property;
  • preparation of privacy policies;
  • advice about leases, to secure your business premises; and
  • advice about finance documents and guarantees.

We can also put you in touch with advisors in other fields, such as accountants and marketing consultants so that a comprehensive business development proposal can be put together and used as a basis for a grant application.

Contact us

If you would like assistance with a grant application, have any questions, or would like a quick business legal health check, please contact one of our commercial law partners:

Sean Walsh, Partner, Accredited Specialist Business Law
Ph: 4036 9719

Nigel Hales, Partner, Partner, Accredited Specialist Property Law
Ph: 4036 9731

Melissa Nielsen, Partner, Property and Commercial
Ph: 4036 9752

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