News
Grant alert: Small to medium-sized businesses in Queensland could benefit from Business Growth Fund Program
Grants of up to $50,000 are available. Applications close on June 30 2022.
Applications are now open for The Business Growth Fund (BGF) which 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.
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
- advanced logistics systems and equipment.
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.
Eligibility criteria
Check 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.
Available funding
You 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.
Projects will not be funded with:
- a total cost of less than $33,333 (excluding GST)
or
- payments made before the approval date (you must be approved before you pay for grant-funded project activities).
Contact TaxAssist Accountants
If you need any help or advice with the financial aspects of running your business, please contact us today on 08 6245 7506 or complete our contact form. We’ll be glad to help.
Date published 10 Jun 2022 | Last updated 9 Jul 2022
Choose the right accounting firm for you
Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?
Local business focus
We specialise in supporting independent businesses. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.
Come and meet us
We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accountant. You can visit us at any of our multiple locations, meet with us online through video call software, or talk to us by telephone.
Switching is simple
Changing accountants is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.