Region: Queensland wide
Amount: Up to $50,000
The program provides funding for small and medium-sized businesses experiencing high-growth to buy specialised equipment to unlock growth potential, increase production, expand your workforce and maximise economic returns.
Funded businesses are expected to:
- increase confidence for growth, transitioning from small to medium-sized
- increase productivity, turnover, profit and employment by 20%
- improve confidence to automate, scale up, increase market share, diversify and/or exploit exporting opportunities.
The program is administered by the Department of Employment, Small Business and Training.
You may be eligible for a single up-front payment up to $50,000 (excluding GST).
You must also fund at least 25% of project costs to buy and implement the specialised equipment.
Funding must be used to buy specialised equipment to meet business growth. The equipment must have a direct link to increasing employment and maximising economic returns.
Examples of eligible highly-specialised equipment include (but are not limited to):
- production equipment to meet otherwise unachievable growth demand
- advanced manufacturing or digital equipment and systems
- advanced logistics systems and equipment.
You must be an established small to medium-sized Queensland business who is financially sound and have the potential for high-growth within the next 2 years.
High-growth is defined as a 20% increase in productivity, turnover, profit and/or employment in the last 12 months.
For more information: https://www.business.qld.gov.au/starting-business/advice-support/grants/growth-fund