Expressions of interest for the Business Growth Fund open 1 May 2024.
This program offers grants of $50,000 to $75,000 to support the purchase of specialised equipment as a co-contribution with eligible businesses. Successful applicants must co-contribute at least 40% of the total project costs.
The Business Growth Fund (BGF) targets high-growth businesses who can accelerate growth, drive Queensland’s economy and employ more Queenslanders. It provides funding for small and medium-sized high-growth businesses to buy highly specialised equipment, enabling them to unlock growth potential, increase production, expand their workforce, and maximise economic returns to move them into the next stage of growth.
Funded businesses are expected to:
- increase confidence for growth, transitioning from small to medium-sized
- increase productivity, turnover, profit and/or employment by 20%
- improve confidence to automate, scale up, increase market share, diversify and/or exploit exporting opportunities.
This program is administered by the Department of Employment, Small Business and Training (DESBT).
Medium-sized businesses that employ 5-49 people (headcount) with high-growth plans should review the guidelines for full eligibility and criteria on the Business Growth Fund web page.
Interested businesses will be invited to submit an expression of interest from 9am on Wednesday 1 May.
If you have any questions regarding this opportunity, please don’t hesitate to contact your Hall Chadwick QLD advisor.
