Accelerate Small Business Grants Program
The Queensland Government is providing $3 million in grant funding over 3 years to established Queensland-based small businesses to engage an advisory board or independent advisor, for between 6–12 months. (An advisory board provides non-binding strategic advice to a management team).
The Accelerate Small Business Grants Program provides targeted assistance to small businesses that demonstrate high-growth and employment aspirations, to engage high-level expertise in their business for an extended period.
Matching funding of up to $10,000 (excluding GST) may be provided to eligible businesses to engage business mentors, coaches, or an advisory board, for between 6–12 months. The funding must be matched by a cash contribution from the participating business.
Two grant payments will be made directly to the business, with 50% paid on grant approval and a further 50% paid on successful completion of the project.
To be eligible for this grant, the business must:
- have a minimum trading history of 4 years
- have a minimum turnover of $750,000
- have a maximum headcount of 20 employees at the time of application
- have an Australian Business Number (ABN)
- have Queensland headquarters or significant Queensland operations
- have competitive opportunities in domestic or international markets
- be experiencing growth and have clearly defined high-growth opportunities
- declare if any owners or directors of the business are an undischarged bankrupt or insolvent.
This grant is targeted at established Queensland-based small businesses that are financially sound and have the potential for high-growth over the next 1 to 2 years. High-growth is generally considered to be a 20% increase in turnover or employment. The participant must have a business plan in place, and the capacity to access finance to fund the growth of their business.
Participating businesses will need to have a clearly defined opportunity and plan for growth, and demonstrate how engaging external advice will allow the business to achieve these goals.
Only 1 application per year will be accepted from an individual ABN or business address.
Round 1 applications opened on 25 October 2016. Applications may be lodged until the annual budget is fully allocated. At this time, the round will close and a new round will open at the beginning of the next financial year.
The participating business must provide a progress report after 3 months and a final report on completion of the project outlining:
- the advice received
- how the advice has been implemented
- the impact on the business
- the results and outcomes achieved.
Businesses will be surveyed 12 months after the completion of the project.
Who should apply
It is expected that participating businesses will be seeking support to manage their business growth which may include, but is not limited to:
- increasing employment
- improving management processes and systems to increase productivity and efficiency
- introducing product process or systems innovations
- entering new markets
- increasing turnover/sales.
Before applying, please read the Accelerate Small Business Grants Program Application Guidelines.
How to apply
Online applications are now open.
When applying, please refer to the:
How you will be assessed
All applications will be assessed against eligibility criteria. Further assessment will include:
- the extent to which the services will support the development of the business
- potential and likelihood the activity will deliver jobs growth
- value for money.
An assessment panel will meet monthly to consider applications received in the past month.
Applications must demonstrate a clear link between the proposed advice or support and the challenges faced by the business. To be successful the assessment panel must be certain that the proposed work will assist the business to meet the challenges identified. Non-targeted, or generic proposals from a consultant will not be accepted.
For further information about the program and application process, refer to the application guidelines or call 13 QGOV (13 74 68).
- Last reviewed: 16 Feb 2017
- Last updated: 16 Feb 2017