Stage one expression of interest applications are now open for the Business Growth Fund Program.
Successful applicants will receive one up-front payment between $25,000 and $50,000 (GST exclusive). A 25% co-contribution is required from the applicant.
What projects will the funding cover?
• Specialised equipment considered to:
• Be an independent or additional piece of complex machinery that directly impacts business operations
• Assist in automating and enhancing productivity
• Present a significant investment in the business
What’s the eligibility criteria?
Businesses that wish to apply must have high-growth potential (considered to be a 20% increase in productivity, turnover, profit and/or employment in the last 12 months) and meet the following criteria:
• Must have a clearly defined opportunity and plan for growth
• Must have a business plan in place
• Must have the capacity to access finance and fund the growth of their business
• Have a trading history of a minimum of three years at the time of application
• Have a minimum turnover of $500,000 for the last financial year.
They must also have competitive opportunities in domestic or international markets, among other criteria.
Katrina Brennan is the Principal at SRJ Walker Wayland – Business Growth advisors, accountants & auditors based in the Moreton Bay, Brisbane & Sunshine Coast regions.
