New Grants

The Business Growth Fund (BGF) can grant up to $75k for small to medium-sized high-growth businesses that can accelerate growth, drive Queensland’s economy and employ more Queenslanders. This funding program has a three-stage application process being submit an expression of interest (EOI) for stage 1, full application for stage 2, and deliver a pitch for stage 3.

Deadlines and Timings

Applications are open and EOI submission (stage 1) will close on 2 June 2023, Friday, at 5PM AEST

Overview and Grant Amount

Businesses can use the funding grants of this program to buy specialised equipment, enabling them to unlock growth potential, increase production, expand their workforce, and maximise economic returns to move them into 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/or employment by 20%, and
  • improve confidence to automate, scale up, increase market share, diversify and/or exploit exporting opportunities

Available funding may go up to $75,000 (excluding GST) and not less than $50,000 (excluding GST). Funding will be paid in three parts:

  • on approval of your application – 20%
  • on completion and assessment of your 3-month report – 40%
  • on acquittal and assessment at project completion – 40%

Successful applicants must co-contribute at least 40% of project costs.

Eligibility and Criteria

Applicants must be an established and financially sound small to medium-sized Queensland business with the potential for high-growth within the next 2 years. High-growth is defined as an average annualised 20% increase in turnover, and/or employment in the last 2 years.

To be eligible for this grant, your business must have:

  • a minimum of 5 employees and maximum of 49 at the time of applying for the grant (by headcount);
  • an active Australian Business Number (ABN) and be registered for GST;
  • a Queensland headquarters;
  • a minimum trading history of five 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 two years of high-growth and have clearly defined high-growth and employment opportunities in Queensland;
  • not been approved for funding under an earlier BGF round; and
  • not be insolvent or have owners/directors that are an undischarged or currently bankrupt

Business must maintain this eligibility for the duration of the grant funded activity.

Eligible Activities

The grant funding must be used to purchase specialist equipment to meet business growth. The equipment must have a direct link to increasing employment and maximising economic returns. Specialist 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 present a significant investment to the business.

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, or
  • advanced logistics systems and equipment

For more information, interested parties are encouraged to read the program guidelines and FAQ set by the funding grant. Submissions must be lodged through their online portal.

Expert Assistance

We have over 14 years of experience preparing grants,  EMDG and R&D tax incentive claims and can assist in making sure can win you grant funding.

Working with us means you get the maximum grant with minimum risk and effort. Our expertise includes R&D Tax Incentive registration and tax schedules, Export Grants, Capital Expenditure and Infrastructure Grants.

Get in touch with us and let’s discuss this more in detail.

For information about other Australian Government Grants, visit Treadstone New Grants page and sign up to our newsletter!

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