From the Gold Coast to Cairns, 28 businesses will share in $1.9m to help them grow.
With grant funding, Business Growth Fund recipients are expected to improve confidence for growth and diversification, while increasing productivity, profit and possibly their workforce, catering for their transition from small to medium-sized businesses.
The Sunshine Coast’s GeoDrill Australia, a family-owned business specialising in mineral and coal exploration, as well as geotechnical and water drilling services, will use a $75,000 grant to enhance capabilities of its fleet of three Hydrapower HP850 drilling rigs.
The business will engage a Toowoomba-based engineering firm to design, engineer and implement rig enhancements, which will upgrade depth capacity beyond 3000m and allow the business to remain competitive with interstate drilling rivals.
GeoDrill Australia’s managing director, Thomas Partleton stated, “The Business Growth Fund has helped us to prepare and launch a new brand, GD Water Solutions.”
“With GD Water Solutions, we will service rural Queensland, providing end-to-end Water Solutions to Queensland businesses and families.
“As a family owned, fourth-generation Queensland based drilling business, the Business Growth Fund allowed us to further enhance the exceptional drilling capacity of our three Queensland manufactured Hydrapower HP850 drilling rigs.
“Queensland Government support has helped our revenue grow by 44 per cent, allowed us to employ an additional 12 team members over the last year and it’s keeping us competitive.”
The Business Growth Fund Program is a highly valuable support initiative of the Queensland Government’s Big Plans for Small Business Strategy.
Minister for employment and small business and minister for training and skills development, Lance McCallum said, “Small businesses are the backbone of our communities and our economy, which is why the Miles’ Labor Government is proud to support them and help them grow.”
“This latest round of the Business Growth Fund will help 28 businesses across Queensland to meet demand and unlock their potential.
“Each of these businesses have identified speciality equipment that will help take their operations to the next level.”
110 Queensland businesses have been supported to-date, sharing in almost $5.7 million.