Queensland Government – Business Growth Fund Program

Status: Ongoing

Region: Queensland wide

Amount: Up to $50,000

Details:

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).

Available funding

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.

Eligibility requirements

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