Small businesses can apply for a $10,000 grant from Monday, 25 May, through the Small Business Relief Fund managed by COSBOA, and made possible by a donation from cloud-based software company Salesforce.
The new fund is aimed at supporting initiatives by small businesses to adapt and innovate in order to emerge from this challenging period in a strong position.
“We’re proud to team up with Salesforce to deliver much-needed support for small businesses,” said COSBOA CEO Peter Strong.
Grants are available to businesses that have been in business since 1 March 2018 and hold an Australian Business Number (ABN). Businesses must also have between two and 50 employees, an annual revenue between $150,000 and $2 million, and the ability to show the impact the COVID-19 pandemic has had on their business.
According to COSBOA, a wide variety of proposals are welcome. Proposed initiatives could address re-designing and re-modelling of workspaces, upgrading or adapting a business’s digital presence or a new approach to marketing.
“We encourage every eligible small business to get in touch and apply; this money could be essential to getting your business back to work and back to growth,” Mr Strong said.
Successful applicants will be able to use the funds for operational costs including paying rent and paying employees, offsetting marketing costs, investing in customer experience and purchasing inventory for the long term.
“We’ve seen many Australian small businesses work to stabilise their businesses, to reimagine how they operate and to find new ways to connect with their customers. As we look to the next phases of reopening many parts of our society, small business is challenged to return to work and to grow in the next normal,” said Pip Marlow, the CEO of Salesforce Australia and New Zealand, in announcing the initiative.
Applications will open online at www.cosboa.org.au at 9am on Monday, 25 May 2020, and close at 5pm (AEST) on Monday, 1 June 2020. Eligible applications will be reviewed by a selection panel of three people and successful grant recipients will be announced on 29 June 2020.
Minister for Small and Family Business Michaelia Cash has applauded the new partnership, noting that the grants will complement the available government support.
“COVID-19 has had a considerable impact on businesses in Australia and these grants will help small businesses to get through this period, innovate, employ and grow into the future,” Ms Cash said.
For the full criteria, click here.