Grants Update

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Queensland Government – Business Basics Grants for Regional Queensland

The Queensland government has announced a range of initiatives for small businesses to increase core skills and adopt best practice.

Grant funded activities must be in one of five priorities:

1. Training and Coaching
2. Website Build/Upgrades
3. Professional Business Advice
4. Strategic Marketing Service
5. Business Continuity and Succession

Eligibility requirements are:

• The business has a turnover of $300,000 or less in the last financial year (2020/2021); and
• Meets all grant eligibility criteria.

For the Grant Guidelines please click here.

Towers Business Development welcomes requests for proposals/quotations from businesses for the following services relating to the Business Basics Grants:

• Training and Coaching
• Business Development
• Business Planning Topics
• Training/coaching relating to corporate governance, understanding financial accounts, business review meetings and other corporate/financial training to assist your business to understand financial/business reports and to add value to your business.
• Professional Business Advice
• Business Plan preparation
• Business Continuity and Succession
• Business continuity or Succession Plans

Towers Business Development Pty Ltd, Managing Director, Peter Towers, has extensive experience in these areas having been a Listed Public Company Secretary and Chief Financial Officer, Business Consultant for the last 30 years and Principal of an accounting firm.

If you would like a proposal to be submitted as part of your application for this grant, please contact us as soon as possible as the grant applications open at 9am AEST on 8th September 2021

Please do not hesitate to contact Peter Towers - or telephone - 1800 232 088.

Export Market Development Grant

From 1st July 2021, the Export Market Development Grant went under some major changes.

This grant is available to any Australian exporter operating in any type of business entity – Sole Traders, Partnerships, Trusts or Companies.  Over 4,000 Australian businesses participate in this grant program each year. 

Does your business export or supply tourism services to overseas’ residents?  If so, your business might be eligible for this grant.

From now on, businesses must have a turnover of less than $20M to apply for this grant.  An “eligibility based grant program” has been introduced.  Businesses that believe they could be eligible for the Export Market Development Grant are required to submit an application to Austrade from 16th August (application opening date) to 30th November 2021.

Grants are available in three tiers over a maximum of 8 years, with total funding amount over the 8 years (which do not have to be consecutive) of $770,000 available for eligible complying businesses.

Tier 1: Ready to Export

First time exporters.

Maximum 2 years and maximum $40,000 per financial year.

Tier 2: Expanding

Expanding your export promotion activities.

Maximum 3 years a maximum $80,000 per financial year.

Tier 3: Expanding and Strategic Shift

Expanding your export promotion activities and making a strategic shift, for example, targeting a new market or a new type of customer.

Maximum 3 years and maximum $150,000 per financial year.

When the grant applications have been assessed and individual grants approved by Austrade (after 30th November 2021) a Grant Agreement will then be prepared between Austrade and the applicant.  Austrade has indicated that milestone payments will be made to successful applicants.

This new system will be a lot clearer for businesses that will not have to run the commercial risk of undertaking expenditure, that the business thought would qualify for the Export Market Development Grant, and then find that the Austrade administrators disagreed.

This caused a lot of upset because the old system required the business to incur the expenditure during the year and then, at the end of the year, make an application for part reimbursement of expenditure that the business thought complied with the Export Market Development Grant.  That uncertainty has now been removed because applications need to be made in advance, thus bringing this grant into line with most other Federal government grants.

If you would like to have a discussion with Peter Towers, an Austrade approved “Export Market Development Grant Consultant”, please email - or telephone on 1800 232 088.

Recent Webinars/Posts

• Planning Funding For Your Business – (Click here) to review the post. (Click here) for the recording.
• Does your SME Require Capital? – (Click here) to review the post.  (Click here) for the recording.

Towers Business Development Services

Towers Business Development does not give taxation advice but offers consulting services for small/medium sized enterprises and accountancy businesses, including:

• Export Market Development Grant Applications
• Corporate Governance Mentoring
• Mentoring/Training Company Directors
• Assistance with Due Diligence for Early Stage Innovation Company Status
• Assistance with Company Being Accredited as a Crowd Source Funding Equity Raising Company
• Assistance with Capital Raising Utilising Section 708 of the Corporations Act
• Assistance with the Preparation of an Application for an Accelerating Commercialisation Grant
• Government Grant Advice for SMEs
• Preparation of Business Plans
• Predictive Accounting – Budgets, Cashflow Forecast, Projected Balance Sheets
• Virtual Chief Financial Officer Services
• Succession Planning
• Establishment of Research and Development Systems
• Business Review Meetings – Monthly or Quarterly

Want to know more about the services that Towers Business Development can supply to assist your business in its business growth?  You are invited to visit the Towers Business Development website; or contact Peter Towers:

• E:
• P: 1800 232 088

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