Queensland Small Business Grants
Small business grants for Queensland can create wonders for the economic growth of the region. Small businesses form the backbone of the economy. Such businesses offer employment and help strengthen the local industry. That is why development projects initiated by governments and non-profit organisations focus on helping SMEs grow so the economy of the overall region can be improved.
Innovative businesses and SMEs often require small grants to manage their expenses and set up costs. In the wake of Covid-19, the Queensland government and other regional organisations have initiated several programs to help recover the struggling economy by providing financial assistance to SMEs.
If you own a business in Queensland, you would be pleased to know may be eligible for several business grants that can help your business grow and create more opportunities for skilled labor within the region. We have made a list of some of these grants that are available for SMEs in Queensland.
Business Basics Grant Program
The Department of Employment, Small Business and Training (DESBT) in Queensland has a Business Basics Grant Program in place to provide assistance to small businesses in 5 major fields:
- Training and development
- Website development
- Business mentorship
- Strategic marketing services
- Business continuity
Small businesses that require assistance in the above fields may be eligible for a grant of $5,000(excluding GST). The grant opens once a year and businesses looking for training and development can benefit from the program.
Business Growth Fund Program
Another program administered by the Department of Employment, Small Business and Training (DESBT) in Queensland includes the Business Growth Fund Program and is targeted towards high-growth businesses. If you own a small to medium business that is currently in the growth stage and you are a resident of the Queensland, you maybe eligible to apply for this grant. The grant only focuses on helping the SMEs in purchasing specialised equipment with the goal of creating more jobs and promoting economic growth in Queensland. The amount of grant ranges from $25,000 to $50,000, depending on the project costs and you can use the amount to add some specialised equipment to your inventory, thereby increasing your revenues.
Social Enterprise Grant
Social enterprises offer multiple benefits for the economy and society. To help develop businesses focused on social enterprises, Queensland government has established the Social Enterprise Grant. This fund includes $4.6 million for small businesses working towards solving some social problems. This grant can cover the purchase of equipment, training, and business development for small businesses that are working to create jobs, and supporting health, environment and skills development initiatives in the region. If you own a small business that falls into the category of social enterprises and have been working for at least a year in Queensland you are eligible to apply for this grant.
Ignite Ideas Fund:
Innovative ideas can help develop the region and improve the economy of Queensland. That is why the government has set up the Ignite Ideas Fund, which is especially targeted towards the small to medium businesses offering innovative solutions and showing a great potential for growth. There are two tiers of funding available and the funds range from $100,000 to $200,000 and is transferred during the span of 24 months. To be eligible for this funding, you need to be a resident of the Queensland region and have a registered business with less than 50,000 employees. Furthermore, your business should be working towards diversifying the Queensland economy, strengthening local industry, and creating new jobs and opportunities for the residents of the region.
Manufacturing Hubs Grant Program:
The Manufacturing Hubs Grant Program is targeted towards small to medium businesses that are in need of improving their manufacturing capabilities in order to take their businesses to the next stage. The grant amount ranges from $5,000 to $1,000,000 and applications are received on a rolling basis. The Program offers assistance to the small businesses so they can increase their productivity by developing better manufacturing resources and supply chain management. The small to medium businesses established in the Queensland region are eligible to apply for this grant and can use the funding to improve their competitive standing in the local and international market.
Regional Futures – Collaborative Projects
The Collaborative Projects program is another great grant for small businesses in Queensland. The program supports collaboration between regional innovation leaders and businesses so that they can combine resources to find the solutions to the existing problems. The grant includes an amount of up to $200,000 and the organizations interested in applying must be registered and should be able to match the funding in 1:1 for a successful collaboration for economic growth and job creation in the Queensland region. The organization is also required to complete the project within 18 months
There are several other small business grants in Queensland. Queensland government provides financial assistance to SMEs through different grants and funding programs. If you own a business and are looking for funding opportunities, then a grant can prove to be very beneficial for your business.