The Business Growth Fund (BGF) targets high-growth businesses who can accelerate growth, drive Queensland’s economy and employ more Queenslanders. It provides funding of up to $50,000 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.

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.

To be eligible for this grant, businesses need to have a minimum annual turnover of $500,000 and have the potential for high-growth within the next two years and successful applicants must co-contribute at least 25 per cent of project costs.

Expressions of interest opened on 31 May 2022 and are scheduled to close on 30 June 2022 or when enough applications have been received for competitive assessment.

 

Find out more here

 

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