The Business Growth Fund (BGF) targets high-growth businesses who can accelerate growth, drive Queensland’s economy and employ more Queenslanders.
The program provides funding for small and medium-sized businesses experiencing high-growth to buy specialised equipment to unlock growth potential, increase production, expand your workforce and maximise economic returns.
Funded businesses are expected to:
- increase confidence for growth, transitioning from small to medium-sized
- increase productivity, turnover, profit and employment by 20%
- improve confidence to automate, scale up, increase market share, diversify and/or exploit exporting opportunities.
Available funding
You may be eligible for a single up-front payment up to $50,000 (excluding GST).
You must also fund at least 25% of project costs to buy and implement the specialised equipment.
Funding must be used to buy 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
- advanced logistics systems and equipment.
Eligibility
To be eligible for this grant, your business must:
- have a minimum trading history of 3 years at the time of application
- 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 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
- not be insolvent or have owners/directors that are an undischarged bankrupt.
Please click here for the Guidelines.
For more information about this grant, please head to the Queensland Government website.
