Are you considering applying for business grants, but you’re just not too sure where to begin?
With so many different grants available, from Federal and State Government funding, right through to private equity investments, it can definitely be confusing. And, as a small business owner, it’s unlikely that you’ve got time to trawl through the interwebs hunting for the right documentation.
That’s where we come in.
Clickify has compiled the definitive guide of Australian grants to help businesses.
While there are many grants available to businesses year-round, there has been a recent surge of interest due to the impact of COVID-19. As such, many grants have been made available specifically for businesses affected by the COVID-19 pandemic.
We hope this guide will help make navigating the grant landscape even just a smidge easier.
The Big Commercial Players
Google Ads is offering US$340 million ad credits globally to small and medium-sized enterprises, which can be used across Google Ads platforms and are eligible to be spent until the end of 2020.
Facebook has announced a small business support scheme of US$100 million for businesses impacted by COVID-19. This program includes cash grants and ad credits. It will be available for Australian businesses (at the time of writing it states that they are still working through eligibility details for Australia) that have been operating for over a year, that have between 2 and 50 employees, and have experienced challenges as a result of COVID-19.
Federal Government Business Grants and Support
The Australian Federal Government have announced several measures to help small and medium-sized businesses during COVID-19. These measures are outlined below.
The JobKeeper Payment is designed to help businesses and their employees by providing businesses with financial assistance in order for them to continue to pay their employees. The JobKeeper Payment entails the Government providing $1,500 per fortnight per employee until 27 September 2020. By enabling businesses to maintain a connection with their employees, businesses will more quickly be able to resume operations when the crisis is over.
The Boosting Cash Flow for Employers measure will provide eligible businesses with between $2000 to $25,000. This payment is tax free and is designed to provide temporary cash flow support. This payment is eligible for businesses that employ workers and that have an annual turnover of less than $50 million.
To encourage small businesses to retain their apprentices and trainees, small businesses with fewer than 20 employees are eligible to apply for a wage subsidy of 50% of their apprentice’s or trainee’s wage paid from 1 January 2020 to 30 September 2020. A maximum of $21,000 per eligible apprentice or trainee is available for reimbursement to employers.
The Government has increased the threshold for the Instant Asset Write-Off from $30,000 to $150,000 and is now accessible to businesses with an annual turnover of up to $500 million. This initiative provides businesses with cash flow benefits and is applicable from 12 March 2020 to 30 June 2020 for both new and second-hand assets.
State and Local Government Grants and Support
Each of the state governments, along with several of the major local governments, have announced grant funding and relief measures for local business. These are outlined below.
The Victorian Government is providing small businesses with a one-off grant of $10,000 per business. It is eligible for businesses with a turnover of more than $75,000 and a payroll of less than $650,000. Applications close at 11.59pm on Monday 1 June 2020
COVID-19 City of Melbourne Business Grants
The City of Melbourne are offering $5 million in grants for small and medium-sized businesses. These grants include:
- Up to $5,000 for investing in online and e-commerce activities
- Up to $2,000 for training and professional development
- Up to $10,000 for capital works projects that enable adaptation to changing conditions
New South Wales
The NSW Government is providing a grant of up to $10,000 to impacted small businesses with between 1 to 19 employees and an annual turnover of more than $75,000. Applications close 11.59pm 30 June 2020.
The City of Sydney have released $2 million of extra funding available for small businesses with between 1 to 19 employees and an annual turnover of less than $10 million. Each business is able to apply for $10,000.
The City of Sydney is providing grants to help sole traders and not-for-profit enterprises with less than 20 full time employees in the cultural sector. Organisations are able to apply for $20,000 and sole traders can apply for $10,000.
The Queensland Government is offering a range of tax relief measures, including: refunds of payroll tax for 2 months, a payroll tax holiday for 3 months, and deferral of paying payroll tax for the 2020 calendar year.
Small businesses can also apply for up to $10,000 under a new $100 million package to help them counter the impact of COVID-19.
The Government of South Australia is providing eligible small businesses with a cash grant of up to $10,000.
The Western Australian Government is providing several relief measures to support small businesses during the COVID-19 pandemic. These measures include:
- A grant of $17,500 for small businesses with a payroll between $1 million and $4 million
- Rental payments waived for six months
- A one-off $2,500 credit on electricity bills for eligible businesses
The Northern Territory Government is providing small businesses with grants from a $50 million fund. It is particularly targeted at supporting businesses in the retail, hospitality, tourism and entertainment businesses. Eligible businesses are able to apply for two payments: an immediate payment of between $2,000 and $50,000, and an adaptation payment of between $1,000 and $5,000.
The Business Hardship Package will provide aid to businesses by providing financial relief from charges by the government, local council, and some utility providers. It applies to businesses with less than $50 million annual turnover with a 30% reduction in turnover due to COVID-19. Applications for the Business Hardships Package will open 1 May 2020.
The ACT Government is providing small to medium-sized businesses with a variety of grants and supports in order to cope with the financial ramifications of COVID-19. This includes:
- A 12-month waiver of food business registration and liquor licensing fees for licensed venues as well as off licensed venues with gross liquor purchase value of below $3 million per annum
- A 12-month waiver of fees for businesses that require an infection control license
- Increased subsidies for apprenticeships and traineeships
- A total of $3.3 million available for distribution to clubs
- Businesses in the construction industry are able to defer their payroll tax liability to September 2020
- Small businesses will receive up to $750 in electricity rebates
- A 12-month waiver of Rideshare vehicle license fees
- A credit of $2,622 with be received by commercial rate payers
- Commercial tenants may receive up to six months of rent relief
Business Continuity Grant
The Tasmanian Government Business Continuity Grant is providing businesses with up to $750 so that they may engage the services of a suitably qualified person to provide advice regarding business continuity planning.
The Tasmanian Government is providing businesses in the primary healthcare sector with grants of up to $10,000 to support the continued delivery of primary healthcare.
The Tasmanian Government is providing small businesses who are facing severe hardship with grants of $2,500.
The Tasmanian Government is providing businesses with fewer than 50 full time employees with grants of $15,000.
The City of Hobart is providing quick response funding for small businesses affected by COVID-19. Grants of up to $300 are available for eligible businesses.
We hope that this guide to Australian Business Grants above has helped you to find some opportunities available to help support your business.
There is also Coronavirus information and support for business provided on the Australian Government website here: https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business