If your startup is poised for significant growth, the Queensland Government’s Business Growth Fund may provide the financial boost you need to scale up. This initiative supports small to medium-sized enterprises eager to expand their operations and market reach through strategic investments in specialised equipment.
Why Consider the Business Growth Fund?
The grant specifically targets investments in equipment that directly enhances productivity, such as advanced manufacturing tools, sophisticated digital systems, or innovative logistics solutions. By upgrading your operational capabilities, you can achieve higher efficiency and better meet growing market demands.
Eligibility and Funding Details:
Eligible businesses must have between 5 and 49 employees and demonstrate a strong potential for growth. The fund is designed to foster job creation and elevate the economic impact within Queensland. It’s important to note that the fund will not cover standard office supplies or operational costs like salaries or rent.
The Business Growth Fund provides up to $75,000 in matched funding for projects no longer than 12 months, with applicants required to meet a minimum of %40 of total project costs. This co-investment model is intended to encourage commitment and ensure the sustainability of the growth initiatives.
Application Process:
Applications opened from 9 am, Wednesday 1 May 2024, and close at 5 pm, Tuesday 14 May 2024.
The application process for the Business Growth Fund is competitive and structured in three stages: an expression of interest, a detailed full application, and a presentation pitch to a panel of business experts. Applicants must outline how the proposed equipment will significantly enhance their business operations and contribute to economic growth.
Explore This Opportunity:
For startups looking to capitalise on this opportunity, it’s crucial to prepare a comprehensive business plan that highlights your project’s innovation and the specialised nature of the equipment involved. Understanding the competitive nature of the fund, ensure your proposal clearly demonstrates the potential impact and return on investment.
For more information on the Business Growth Fund and to assess how it might benefit your startup, visit the Business Queensland Growth Fund Page.