QLD Business Growth Fund Program round 6
Business Growth Fund Program will fund up to 60% of the cost of this specialised equipment up to a maximum grant of $75,000. The minimum grant is $50,000 which means your grant application must be for a minimum of $83,333. For projects over $125,000, the maximum funding is $75,000.
What is specialised equipment?
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. This includes:
- 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 trading history of a minimum 5 years
- have a minimum turnover of $500,000 for the last financial year
- have minimum of 5 and maximum of 49 employees at the time of applying for the grant
- have an active ABN and be registered for GST
- have experienced two years of high-growth and have clearly defined high-growth and employment opportunities in Queensland High-growth is defined as an average annualised 20% increase in turnover and/or employment in the last two years.
- not have been approved for funding under an earlier round of the Business Growth Fund
- have Queensland headquarters
- 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.
Application process
It is a 3 stage application process being expression of interest (EOI – stage 1), full application (stage 2) and full pitch (stage 3).
Stage 2 and 3 are by invite only. All stages are competitive and even if you make stage 3 there are no guarantees of funding.
How to Apply
Applications for Stage 1 EOI close 5pm 14 May 2024.
For more information and to apply click here
Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. Wayne may also be able to assist you in preparing any grant application.
Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.
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Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052
