Applications are now open for a new Australian small business relief grant made possible through the combined efforts of the Council of Small Business Organisations Australia (COSBOA) and SalesForce.
The one-time payment of $10,000 will be offered to 67 businesses across the country that have been adversely impacted by the COVID-19 pandemic.
To be eligible to apply, businesses must be for-profit companies with an ABN and have been in business for two full years as of 1 March 2020. Additionally, they must have between 2 and 50 employees and an annual revenue between $150,000 and $2m.
Applications are open until the close of the business day on Monday, 1 June 2020. The selection process will be completed within a week, with provisionally approved grant recipients to be contacted on Tuesday, 9 June. The funds will be paid into nominated recipient bank accounts by the end of that same month.
COSBOA and Salesforce will ask successful grant recipients to demonstrate how they put the money to use and then publicly share how some of the funds were allocated.
It is the two groups’ hopes that the grants help small businesses adapt and innovate as they emerge from the challenging COVID-19 period, such as through re-modelling a workspace, rethinking marketing or upgrading their digital presence.
Successful businesses will be expected to have enacted their proposals by 31 December 2020.