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Australia: Business Growth Fund Program – Round 5

Australia: Business Growth Fund Program – Round 5

Deadline: 2-Jun-23

The Queensland Government is inviting applications for the Business Growth Fund Program to provide funding for small and medium-sized high-growth businesses to buy specialised equipment, enabling them to unlock growth potential, increase production, expand their workforce, and maximise economic returns to move them to the next stage of growth.

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The Business Growth Fund (BGF) targets high-growth businesses who can accelerate growth, drive Queensland’s economy and employ more Queenslanders.

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.
Funding Information
  • You may be eligible for funding of up to $75,000 (excluding GST), and not less than $50,000 (excluding GST).
Eligible Activities
  • Specialised equipment is considered an independent or additional piece of complex machinery that will have a direct impact on the operations of the business to increase, automate or enhance productivity and presents a significant investment to the business. The impact of the equipment unique to the growth of the business and local economy will be taken into consideration.
  • 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 Criteria
  • You must be an established and financially sound small to medium-sized Queensland
  • business with the potential for high-growth within the next two years.
  • High-growth is defined as an average annualised 20% increase in turnover, and/or
  • employment in the last two years.
  • To be eligible for this grant, your business must have:
    • a minimum of 5 and maximum of 49 employees (by headcount) at the time of applying for the grant
    • an active Australian Business Number (ABN) and be registered for GST
    • Queensland headquarters
    • a minimum trading history of 5 years at the time of applying for the grant
    • a minimum turnover of $500,000 for the last financial year
    • competitive opportunities in domestic or international markets
    • experienced 2 years of high-growth and have clearly defined high-growth and employment opportunities in Queensland
    • not been approved for funding under an earlier round of the Business Growth Fund
    • not be insolvent or have owners/directors that are an undischarged bankrupt.
    • Your business must also maintain this eligibility for the duration of the grant funded activity.

For more information, visit Business Growth Fund Program.

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