$25m Worth of Grants Dished Out to Struggling Gold Coast Businesses

 $25m Worth of Grants Dished Out to Struggling Gold Coast Businesses

Almost 3,000 Gold Coast businesses have received financial aid totalling $24.8 million from The Queensland Government in response to COVID-19.

The Small Business COVID-19 Adaption Grant Program sees eligible businesses qualify for a relief grant of up to $10,000 as the Gold Coast’s heavy reliability on tourism has taken a massive hit during the pandemic.

Treasure Cameron Dick said that thanks to the border closures, many shops, cafés and restaurants have been able to open, and that by doing so, Stage 4 restrictions have been avoided.

“Keeping our borders closed has allowed more Queensland businesses to open up, but for many, it has meant making changes to their focus and improve resilience,” he said.

We know that the net cost of reduced interstate tourism to Queensland is less than $190 million per month, whereas going to Stage 4 restrictions like Victoria would cost Queensland’s economy $5.3 billion per month.

Cameron Dick – Treasurer

A total of $159.6 million in interest free loans and $37.3 million in payroll tax refunds has been handed out to Gold Coast businesses, including The Palm Beach Surf Life Club.

“Like so many businesses here on the Gold Coast, COVID-19 has had an impact on visitor traffic to places like the surf club,” Treasurer Dick said.

“That’s why it’s so important to Unite and Recover for Queensland Jobs and maximise the opportunities for small businesses here on the Gold Coast,” he said.

It is thought a total of 14,511 jobs have been supported by the program, but the Treasurer said that the hard work doesn’t stop there to help in the economic battle against COVID-19.

“We know there’s more to be done and we will continue talking to business groups and companies across the Gold Coast and throughout Queensland as we work together to protect and support Queensland jobs,” he said.

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