Manufacturing News

Business Growth Fund grants open for small and medium businesses

business growth fund

Queensland’s small and medium businesses can now apply for grants of up to $50,000 to help them grow and create jobs, due to $2.5 million allocated for the Business Growth Fund. 

“The Business Growth Fund grants are the first in a package of $25 million of new grants unveiled as part of Queensland Small Business Month,” Minister for Employment and Small Business Di Farmer said. 

“The package also includes new programs, Business Basics and Business Boost, which will open for applications later this month and next financial year.” 

This investment is a response to direct feedback received from the state-wide Small Business Roadshow and an online survey. There will be increased assistance with the application process for small business owners, as well as greater lead in time after the release of criteria for each grant program. 

“We know that small businesses across Queensland are at distinctly different stages and that’s why our new support programs reflect this and will deliver additional funding, to ensure more businesses bounce back better [from the COVID-19 pandemic],” Farmer said. 

Applicants for the Business Growth Fund will also receive a mentoring session to better explore their business proposition and how to proceed with it. 

“The Business Growth Fund aims to help evolving small and medium sized businesses to buy highly specialised equipment to accelerate growth opportunities,” Farmer said. 

“We want to make it as easy as possible for more businesses to apply for the $25 million in grants on offer over the next two years. As a result, we have simplified and streamlined application processes for small businesses.” 

Applications are open for the Business Growth Fund as of 11 May. Business Basics applications are due to open 31 May and Business Boost in late July. 

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