Qld Backing Business in the Bush Fund

Sometimes I wonder when politicians announce business related grant programs if it is just for the votes or to really help business.

One such example is the Qld Backing Business in the Bush Fund. On the face of it, it looks like a great idea as a matched funding program targeted at SME’s who have between 5 and 199 staff to undertake projects in regional Qld.

But when you get down to the detail of the funding, here is where this program does not make sense to me.

The funding ranges from $500,000 to $2m. This means the SME must be committing to a project of at least $1m and have a minimum of $500,000 funds available.

Based on my conversations with SME’s, there are not many businesses with less than 200 staff who would have that money. So the pool of potential applicants would be very small I expect.

So my question is why is the starting funding size so high?

For those who want to apply here is some more information.

Eligible Businesses

To apply, your business must:

be a legal entity, registered for GST with an ABN
be a SME (5-199 employees) based in Queensland and have a place of business in Queensland
have been trading for at least three years
have a minimum turnover of $1 million in each of the last two financial years
be able to demonstrate that you have or have access to sufficient funding to cocontribute your share of the project’s
eligible capital expenditure
be positioned to start operations of the funded project within 18 months of potential funding agreement execution

Eligible Projects

To be eligible for funding, the project must:

be located in regional Queensland3
be within the eligible industries or sectors (see below)
align with the objectives of the fund
be investment ready
demonstrate a need for State assistance to realise outcomes under the fund’s Assessment criteria

Eligible industries and sectors

The project must be in one of the following industries and sectors:

value adding to agriculture, forestry, and fishing products
the mining equipment, technology, and services (METS) sector
transport and logistics
manufacturing products for use in or in connection with: the mining industry; processing minerals; agriculture; forestry; fisheries. processing produce of a primary industry; transport, defence

Learn More

Click here to learn more and apply

Note applications close 14 January 2024

Wayne Wanders is an experienced Business Advisor skilled in analysing business financial performance and cash flow. Wayne may also be able to assist you in preparing your grant application. Contact Wayne below for a free no obligation session.

If you like this, why not share this with a friend, simply click on one of the icons to the left or below

[simple-social-share]

Contact Wayne Wanders for your FREE Business Survival Session

To ensure I help your business specifically, the best approach I have found is to have an obligation free session with you. In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face. And this session does not need to be face to face.

At the end of this session, you will have multiple ideas on how your business can survive and thrive in these uncertain times.

Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

To get help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

We promise to keep your email address safe.

Let Wayne Wanders, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au

If you like this, why not share this with a friend, simply click on one of the icons to the left or below