The Queensland Government supports small business through a range of initiatives. The Business Growth Fund (BGF) targets high-growth businesses who can accelerate growth, drive the Queensland economy and employ more Queenslanders.
Sponsoring Agency: Queensland Government
Type of Fund: Grant
Deadline Available: Not Available
Deadline Date (mm/dd/yyyy):
Size of the Fund: Less than USD $50,000
The Queensland Government supports small business through a range of initiatives. The Business Growth Fund (BGF) targets high-growth businesses who can accelerate growth, drive the Queensland economy and employ more Queenslanders.
The BGF program administered by the Department of Employment, Small Business and Training (DESBT) provides grant funding for small and medium businesses experiencing high-growth.
The grant funding assists the business to buy specialised equipment to unlock growth potential, increase production, expand its workforce and maximise economic returns.
Program Outcomes
Funded businesses are expected to increase business confidence by:
• improved growth transitioning from small to medium sized
• increase productivity, turnover, profit and employment by 20%, and
• automating, scaling up, increasing market share, diversify and/or exploit exporting opportunities
Funding Information
• If successful, a single up-front payment of up to $50,000 (excluding GST) is made available for the business to purchase and implement highly specialised equipment to enable the business to move to the next stage of growth.
• Grant funding will be awarded after a competitive assessment process that includes pitching to business experts and DESBT executives.
• The applicant must also fund at least 25 per cent of project costs to purchase and implement the specialised equipment.
What can the funding be used for?
The grant funding must be used to purchase 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, or
• advanced logistics systems and equipment
Who can apply?
• Established small to medium sized Queensland businesses that are financially sound and have the potential for high-growth within the next two years.
• High-growth is considered to be a 20% increase in productivity, turnover, profit and/ or employment in the last 12 months. The applying business must have a business plan in place, as well as the capacity to access finance to fund the growth of their business.
• Applying businesses must have a clearly defined opportunity and plan for growth and demonstrate how the project (i.e. implementation of specialised equipment) will assist the business to achieve these goals.
Eligibility Criteria
To be eligible for this grant, the business must:
• have a trading history of a minimum of three years at the time of applying for the grant
• have a minimum turnover of $500,000 for the last financial year
• have fewer than 50 employees at the time of applying for the grant
• have an active Australian Business Number (ABN) and be registered for GST
• have Queensland headquarters
• have competitive opportunities in domestic or international markets
• be experiencing growth and have clearly defined high-growth and employment opportunities in Queensland, and
• not be insolvent or have owners/directors that are an undischarged bankrupt
More information at: https://www.business.qld.gov.au/starting-business/advice-support/grants/growth-fund
Eligible Countries:
Australia
