FUNDING OF UP TO $50,000 FOR QLD BUSINESS GROWTH GRANTS NOW OPEN
The Qld Business Growth Grants are now open. The Queensland Government is making funding of up to $50,000 (excluding GST) available for eligible businesses to purchase and implement highly specialised equipment or services. These purchases should enable businesses to move to the next stage of growth.
Successful applicants must provide a co-contribution of 25% to 50% of the total project cost. The government contribution will be determined by an assessment panel.
Examples of eligible highly specialised equipment or services include (but not limited to) the following equipment and services:
- Production equipment to meet otherwise unachievable growth demand
- Advanced digital equipment and systems (e.g. 3D printers, scientific equipment or medical devices)
- Advanced logistics systems and equipment
- Engage business mentors, coaches, consultants or advisors to provide advice (e.g. on business structures and governance, systems improvement, export and commercial negotiations)
- Intellectual property (IP) advice
- Feasibility studies
- Engage an advisory board
The equipment or service must have a direct link to increasing employment or contributing to your business' growth strategy. If your application is successful, a single up-front grant payment will be made directly to the business.
Your business must have the potential for high-growth within the next 2 years. High-growth is generally considered to be a 20% increase in turnover or employment.
The applying business must have:
- a business plan in place
- the capacity to access finance to fund the growth of their business
- clearly defined an opportunity and developed a plan for growth
- demonstrated how the funding will assist the business to achieve these goals.
Only 1 application will be accepted from an individual ABN or a financial beneficiary of a business for consideration at any one time.
Successful applicants cannot reapply for funding under this program. To view the full details or to apply please visit Business Queensland.