Round 4 of the Business Boost Grants Program will ensure your business not only survives but thrives. Registration of Interest opens on Monday, 24 June 2024.

 Overview of the Program

Administered by the Department of Employment, Small Business and Training (DESBT), the Program provides funding to assist small businesses to enhance efficiency and productivity by supporting activities in future planning, specialised and automated software, and staff management and development systems.

What Funding is Available?

Eligible businesses will receive a grant payment between $10,000 and $20,000 (excluding GST), paid in two milestone payments:

• • Milestone 1: on completion of a compliant 3-month report – 50%

• • Milestone 2: on acquittal at project completion – 50%

Successful applicants must equally co-contribute towards the total project cost. Projects can cost more than $40,000, but the maximum amount DESBT will contribute is $20,000 (excluding GST).
Projects with a total cost of less than $20,000 (excluding GST) or payments made before submitting the Stage 2 Full Application will not be funded.

Who is Eligible to Apply for the Grant?

Applicants must meet the following criteria at the time of application submission:

• • have more than one and less than 20 employees (by headcount)

• • be operating and have an active Australian Business Number (ABN) and be registered for GST

• • have a registered location of Queensland headquarters (per your Australian Business Register (ABR) record)

• • be established, financially sound and experiencing growth, with a gross profit in the 2023-24 financial year

• • a minimum turnover of $300,000 in the 2023-24 financial year

• • have a publicly accessible web presence to identify business operations (e.g. business website, social media pages)

• • not have been approved for funding under an earlier Business Boost round, and

• • not be insolvent or have owners/directors that are an undischarged bankrupt.

Click here to check your business meets the eligibility criteria for funding.

What Activities are Eligible?

DESBT will fund the following eligible activities:

• • Future Planning – strategic business planning for innovation and growth; implementing a governance board to guide strategic planning; identifying and capitalising on export opportunities; compliance with industry regulations and standards, including sustainability.

• • Specialised and Automated Software – design and implementation of sophisticated cloud platforms, online management systems and/or applications, including Artificial Intelligence systems, cybersecurity and crime prevention software and tools, quality and compliance, and risk management systems.

• • Planning and Systems for Staff Management and Development – strategic human resource management fostering skills development, robust recruitment strategies and seamless onboarding for new personnel; professional development through targeted transitional training and initiatives; employee performance management frameworks and evaluation systems.

What is involved in the Application Process?

1. 1. Registration of Interest (ROI): apply via the DESBT SmartyGrants portal once the grant round opens. Valid ROIs will be assessed through a ballot process.
   2. Full Application: selected applicants from Stage 1 will be invited to submit a Stage 2 Full Application.
   3. Assessment: applications are assessed for compliance against the eligibility criteria within the guidelines and their competitiveness against the assessment criteria.
   4. Final Stage of Assessment: applicants will be asked to provide an accountant’s letter to verify turnover, gross profit and headcount in 2023-24.
   5. Notification of Outcomes: DESBT will advise all applicants of the outcome of their application at the end of each stage. Successful Stage 2 applicants will receive a Funding Agreement Letter, with funding paid in two instalments.
   6. Completion of Activities: grant funded activities must be completed within 12 months from the date of receiving the Funding Agreement Letter.
   7. Reporting: a three-month progress report and final acquittal report must be completed.

Key Application Dates

Stage	Open	Close	Notification
Stage 1: ROI	9:00am Monday 24 June 2024	5:00pm Friday 5 July 2024	Est. mid-July 2024
Stage 2: Application	15 July 2024	5:00pm Friday 5 July 2024	Est. mid-October 2024
Final Stage	14 October 2024	1 November 2024	Est. late November 2024

Further Information

For further information, key documents and application guidelines, visit:
https://www.business.qld.gov.au/starting-business/advice-support/grants/business-boost

If you require clarification or have any queries, please contact Jenna Reilly (Executive Administration Assistant) on 07 3490 9950 or jenna.reilly@srjww.com.au.