Home-Business Funding for QLDers
There is an exciting new grant program to encourage stay-at-home parents in Queensland to get some professional help to establish or grow a home-based business. If you’ve had a fabulous idea that you’ve been sitting on and just need a bit of a boost to get you started, that this could be just the thing for you.
The Queensland Government is offering $1 million in grants over three years to stay-at-home parents to establish or grow home-based businesses as part of Queensland Entrepreneurs of Tomorrow.
The Home-based Business Grants Program provides the support that stay-at-home parents need to make their business a success, while keeping a healthy balance between work and family.
Funding of up to $5,000 (excluding GST) will be provided to each successful applicant in two stages:
- Stage one: A grants of up to $2,500 may be provided to assist stay-at-home parents to engage a consultant for professional advice to help establish or develop a home-based business. As part of this advice, the consultant will assist with developing a business action plan to support and improve business.
- Stage two: Matching grant funding (dollar-for-dollar) of up to a further $2,500 may be provided to successful stage one recipients to make improvements or establish the business as detailed in the business action plan developed as part of stage one.
Grant payments will be made directly to the consultant or service provider on successful completion of the project.
Any stay-at-home parent who operates or is establishing a home-based business can apply. The Australian Tax Office (ATO) defines a home-based business as one where the owner operates the business under either of the following circumstances:
- at home – that is, most of the business’s work is carried out at the owner’s home
- from home – that is, the business does not own or rent any premises other than the owner’s home.
Direct selling businesses (where sales of another business’s goods or services are made in the customer’s home, work or other meeting place through methods such as party plan) are not eligible for funding.
To be eligible, applicants must:
- have a Queensland-based business that meets the definition of a home-based business
- have at least one child under 12 in their care for at least 50% of the time
- have an Australian Business Number (ABN)
- own at least 50% of the business
- be an Australian resident living in Queensland
- declare if they (or any owners of the business) are bankrupt or insolvent.
Applicants seeking funding under stage two will be subject to an income test, and must provide proof of matching funding. An applicant with a total household pre-tax income greater than $100,000 will not be eligible for a stage two grant.
Only one application per funding stage will be accepted from an individual ABN or home-based business address.
To read full details and check if you are eligible, please visit https://www.business.qld.gov.au/business/support-tools-grants/grants/home-business-grants
How Can GoodFunnySmart Help?
If you’re interested in these grants then we would love to assist you by providing the quote that you need for the professional consultation to write your business action plan. We are offering to give you a 10 minute phone call to discuss your idea and based on that we can give you up formal quote to include with your application.
If you’re interested, simply complete the form below and we’ll get in touch.[contact-form-7 404 "Not Found"]