What would a $5,000 grant mean for your small business? That’s what we want to learn from anyone applying to the Small Business Growth Fund, now accepting applications until May 20, 2022, at 6 p.m. ET. Show The Small Business Growth Fund provides the capital entrepreneurs need to make their next big move. Each recipient will receive a $5,000 grant to accelerate their growth and help make 2022 the year of their small business. Eligible businesses must:
If you applied and were not selected for a previous round of the program, you are welcome to submit a new application. We will evaluate your application based on any new information and judge it against a new pool of applicants! The deadline for this round is May 20, 2022, at 6 p.m. ET. Get started on your application. The Business Growth Fund (BGF) targets high-growth businesses who can accelerate growth, drive Queensland's economy and employ more Queenslanders.
Grant roundsEach round of the Business Growth Fund grants program has specific information to help you prepare and apply for the grant, and if successful, manage your grant. The Business Growth Fund (BGF) targets high-growth businesses who can accelerate growth, drive Queensland's economy and employ more Queenslanders. It provides funding 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:
The program is administered by the Department of Employment, Small Business and Training (DESBT). Available fundingYou may be eligible for a single up-front payment of up to $50,000 (excluding GST), and not less than $25,000 (excluding GST). Successful applicants must co-contribute at least 25% of project costs. We will not fund projects with:
The table below show the breakdown of total project costs and the co-contribution amounts.
*Your project can cost more than $75,000 but the maximum amount DESBT will contribute is $50,000. Eligible and ineligible activitiesThe grant funding must be used to purchase specialised equipment to meet business growth. The equipment must have a direct link to increasing employment and maximising economic returns. 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. The impact of the equipment unique to the growth of the business and local economy will be taken into consideration. Examples of eligible highly specialised equipment include (but are not limited to):
We will not fund:
Eligibility criteriaCheck your eligibility to find out if your business can apply for the program. You must be an established small to medium-sized Queensland business who is financially sound and have the potential for high-growth within the next 2 years. High-growth is defined as a 20% increase in productivity, turnover, profit and/or employment in the last 12 months. To be eligible for this grant, your business must:
Your business must also maintain this eligibility for the duration of the grant funded activity. Application processThis grant is now closed. Shortlisted Stage 2: Full applications will be invited to Stage 3: Pitch This grant program is competitively assessed. Not all applications will be funded. Detailed application processIn your Expression of interest (EOI) application, you will be asked to:
EOIs are assessed competitively. You will be notified if you have been shortlisted to progress to Stage 2: Full application. If you have not been shortlisted, you will be provided with information on other available support. If your Stage 1 EOI application is shortlisted, you will be invited to submit a full application. In addition to the information provided in your EOI, the full application asks you to include the following documents:
Full applications are competitively assessed. You will be notified if you have been shortlisted to progress to Stage 3: Pitch. If you have not been shortlisted, you will be provided with information on other available support. If your full application is shortlisted, you will be invited to pitch to business experts and DESBT executives. The pitch panel is a critical stage in the application process, providing an opportunity to draw out the merits of the project proposed to be part funded by the grant. Shortlisted applicants will be required to present a succinct and compelling pitch of 5 to 10 minutes. To assist you prepare for this stage, DESBT provides an optional practice pitch session to specifically provide feedback on the delivery, content and style of the pitch. A competitive assessment process is conducted at each stage of the grant's application process. We will advise all applicants of the outcome of their application following each stage of the application process. Successful Stage 3 applicants will receive an approval letter outlining the funding agreement. Grant recipients enter into a funding agreement with us and receive a single upfront grant payment of up to $50,000 (excluding GST) and not less than $25,000 (excluding GST). Recipients must complete their grant-funded activity within 12 months of receiving their approval letter. You must keep all application evidence, supplier quotes, corresponding invoices and bank transactions for audit purposes. Recipients must complete a final acquittal report on completion of their project. The report is to include details on the assets/services received, project implementation, and the impact on the business including the results and outcomes received. Refer to the application guidelines for a comprehensive overview of each stage of the application process. How to applyThis grant round is now closed. For more information about the program, read the key documents and information
More informationView the small business grants schedule or use our coronavirus (COVID-19) business assistance finder to learn what other support you may be eligible for. You can access interpreter and translator services if required. You can also subscribe to the Small Business Connect newsletter to keep up to date with the latest information for Queensland small businesses. Contact usFor more information about the program, email or contact the Small Business Hotline on 1300 654 687. Check your eligibilityTo be eligible for this grant, your business must meet the eligibility criteria and other conditions of the program. Has your business been trading for at least 3 years at the time of applying for this grant?
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