Small to medium-sized businesses who are experiencing high growth are encouraged to apply for the Business Growth Fund Program currently on offer through the Queensland Government.
The program provides funding for SMEs to purchase specialised equipment that will assist in increasing employment and maximising economic returns.
Up to $50,000 is on offer for eligible businesses, 25 per cent of which must go towards buying and implementing the specialised equipment.
According to the State Government, examples of eligible equipment include production equipment to meet otherwise unachievable growth demand, advanced logistics systems and equipment, and advanced manufacturing systems and equipment.
The government says funded businesses can expect to increase productivity and improve confidence for growth and diversification.
Round three of the Business Growth Fund Program opened in May and will continue until all allocated funds are exhausted. Recipients for the funding are chosen in a competitive grant process.
To be eligible for the grant, applicants must be an established small to medium-sized business with the potential for high growth in the next two years.
For more information on eligibility go to www.business.qld.gov.au/starting-business/advice-support/grants/growth-fund
Want a hand to maximise your chance for funding?
Local businesses wanting to apply for this or any other grant on offer can take advantage of a free ‘Introduction to Grants’ course from YEP Entrepreneurship Facilitators Cairns.
Entrepreneurship Facilitator Kate Montgomery says the course is a helpful way for business owners to ensure their application gives them the best chance of being funded.
“We understand that applying for grants can be confusing and overwhelming,” says Kate.
“Our course is designed to take away the stress and help you understand what makes a good grant application.
“We want to see all local businesses performing at their best, and the more money we have flowing through our economy, the better it is for everyone.”
To enrol in the free YEP Entrepreneurship Facilitators ‘Introduction to Grants’ course go to www.learnyep.thinkific.com/courses/introduction-to-applying-for-grants