Funding Open for SME's-Business Growth Fund

Small and medium-sized businesses that employ 5-49 people (headcount) with high-growth plans should review the guidelines and FAQs for the upcoming round of the Business Growth Fund.

This program offers grants of $50,000 to $75,000 to support the purchase of specialised equipment as a co-contribution with eligible businesses.

Interested businesses will be invited to submit an expression of interest from 9am on Wednesday 1 May.

The Business Growth Fund has supported Verified Energy, which is based in Eagle Farm, to purchase specialised testing equipment and software to improve their service to energy and electronic vehicle infrastructure projects and Callide Manufacturing Company in Biloela was supported to buy new machining equipment to improve their productivity, better serve customers in different industries and grow their operation.

Business Eligibility criteria

Check your eligibility to find out if your business can apply for the program.

Your business must be an established, financially sound, small to medium-sized Queensland business with the potential for high-growth within the next 2 years. 

High-growth is defined as an average annualised 20% increase in turnover, and/or employment in the last 2 years.

Eligible activities include:

Specialised equipment is considered an independent or additional piece of complex machinery that will have a direct impact on the operations of the business to increase, automate or enhance productivity. It presents a significant investment to the business. We will take into consideration the type of equipment in relation to your business type and local economy when assessing its degree of specialisation.

Examples of eligible highly specialised equipment include (but are not limited to):

1. production equipment to meet otherwise unachievable growth demand
2. advanced manufacturing or digital equipment and systems
3. advanced logistics systems and equipment.

For more information visit: www.business.qld.gov.au/growthfund.