What could your business do with a $10k boost in funding? Whether it’s a new website or CRM software, investing in digital products and services can be a costly exercise. If your business is based in Queensland, you may be eligible for Business Queensland’s Small Business Digital Grants Program, an initiative that helps small business owners gain a competitive edge in the global marketplace.
The Small Business Digital Grants Program provides small businesses matched funding of up to $10,000 (ex GST) for the purchase of hardware, software and digital services.
The next round of applications is set to open mid-2017.
The application process
If you decide to apply for the grant program, now is a great time to prepare the paperwork.
What to do:
- Prioritise the technology and services your business needs. Consider how the investment will contribute to the growth of your business. Your application will be assessed based on the investment’s value for money, its potential to increase the need for new jobs and how it can help your business stay competitive.
- Ensure your business meets the eligibility criteria.
- Submit your application. For a detailed list of items to include in your application, refer to the application guidelines.
If your application is approved, you will be reimbursed 50 per cent of the purchase amount of a product/service to a maximum of $10,000 for technologies/services invested. Payment is made on the completion of the project/technology roll out.
The program is open to small businesses in Queensland. Applications will be accepted if a business:
• has fewer than 20 employees at the time of application,
• has an Australian Business Number (ABN) and is registered for GST,
• has a turnover of $2 million of less in the last 12 calendar months.
If any owners or directors of your business is an undischarged bankrupt or insolvent, this must be declared.
Where you can invest the $10,000 grant
The $10,000 grant aims to encourage small business owners to innovate and grow with technology. With the grant you can invest in hardware, software and digital services in any of the following categories:
• content development (web copy, blog content, product pages)
• payment gateway for receiving payments,
• specialised digital technology or software i.e. automation software
• training, strategy development and planning.
Limitations to note
The $10,000 of matched funding can be used towards the investment of new technology but does not cover existing expenses including:
• existing fees i.e. maintenance of existing digital services like website hosting or maintenance,
• franchise fees,
• general operating costs,
• Search engine optimization (SEO), Google AdWords, Facebook.
In addition to meeting the eligibility criteria, applications will also be assessed and prioritised by several factors:
• how the investment will impact the business
• whether the investment will give the business competitive edge
• opportunity for job growth
• value for investment
When to apply
The next application window is scheduled to re-open mid-2017. To lodge your application, visit the Business Queensland website. If you are looking to increase leads and sales online for your business, speak to one of our digital marketing specialists today.
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