Deadline: 30-Jun-21
The Ipswich City Council is seeking applications for Small Business Funding Program Round 2 to continue the financial support for Ipswich-based small businesses through and post the COVID-19 pandemic. The funding priorities are to help Ipswich small businesses get back to doing business, and stimulating the local economy.
Funding Information
The total funding available for Round 2 of the Ipswich City Council Small Business Funding Program is $1,000 (exclusive of GST) per business. A total funding pool of $200,000 was allocated for the program. Round 1 saw over $68,000 dispersed to local small businesses, with the balance of $131,732 now available in Round 2. Expenses which are eligible for funding are:
- Future expenses (provided these expenses are incurred and acquitted by the business before the acquittal is due);
- Reimbursement on Eligible Funding Projects acquired by the business from 1 March 2020.
Eligible Funding Projects
The following funding areas are approved projects:
- professional services;
- inventory;
- COVID specific expense;
- Membership Applications for funding outside of the abovementioned funding areas will not be eligible for consideration.
*Applicants can apply for one or a variety of the eligible funding areas. The breakdown needs to be clearly communicated in the application. Council may, in its discretion, elect to grant partial funding to a business if total funding allocated is exhausted.
Eligibility Criteria
An eligible funding recipient must satisfy all of the following criteria:
- is a legal entity and holds a valid Australian Business Number (ABN) as at 1 March 2020;
- is a Ipswich-based for-profit enterprise;
- is a small business which:
- has an annual turnover of less than $1.3 million;
- employs less than 20 staff in total (across the business itself and any associated entities).
- is open and recommenced trading at the date of application;
- is not subject to any enforceable undertakings, legal actions or pending closure;
- has experienced a reduction of turnover of 20% or more for any one month post July 2020 due to effects of COVID-19;
- Applies for the funding as the owner or authorized representative.
Ineligible Funding Recipients:
Applicants are ineligible for funding if the applicant:
- Was a recipient of funding during Round 1 of the Small Business Funding Program;
- Submits an incomplete application;
- Is an individual or not-for-profit organization;
- Is located outside the Ipswich City Council local government area;
- Is a government or semi-government organization;
(e.g. Hospitals and libraries); - Is a public education institution (i.e. primary, secondary and tertiary institutions);
- Is a parents and citizens association;
- Is a political party and/or political lobby group;
- Has an outstanding debt to council (for which relief has not been granted) or unresolved compliance matters;
- Has outstanding council acquittals or have not satisfactorily acquitted council funds;
- Submits an application which is received outside of the application timeframes;
- Is a `Related Party’ of council as defined by the Australian Accounting Standards Board Standard AASB 124 Related Party Disclosures;
- Is a business operated by councellors or council employees.
For more information, visit https://www.ipswich.qld.gov.au/services/funding-and-support