$50,000 small business grants have launched during Queensland Small Business month

May marks Small Business Month in Queensland (QSBM) and the state has launches several initiatives and created various programs to help local small- and medium-sized businesses get the help they need to grow and thrive, particularly after the year that was 2020.

The most recent effort is the Business Growth Fund, which “targets high-growth businesses who can accelerate growth, drive Queensland’s economy and employ more Queenslanders.”

What does this fund do? From today, your small/medium-sized business can apply for a grant of an up-front payment as high as $50,000.

Minister for Employment and Small Business Di Farmer said $2.5 million of Business Growth Fund grants will help established businesses to get to the next level.

“The Business Growth Fund grants are the first in a package of $25 million of new grants unveiled as part of Queensland Small Business Month,” Minister for Employment and Small Business Di Farmer said.

The package also includes new programs, Business Basics and Business Boost, which will open for applications later this month and next financial year.”

The Minister said the State Government’s investment of a further $25 million in grants is a response to the feedback received from the state-wide Small Business Roadshow and an online survey, according to their recent news release.

The funds are meant to be used to pay for equipment that can help accelerate your growth but might otherwise be unattainable without grant support. For beauty businesses, this can mean work stations, treatment tables, beauty technology devices or manufacturing equipment if you product skincare or other beauty products.

The process includes a mentoring session, application and pitch and is open to if you are an established (trading at least three years), high-growth business (anticipate 20% growth in the next 12 months) that is financially sound.

“Small businesses have told us our grants have helped them survive the impacts of COVID-19 and we have listened to structure the new grants program based on direct feedback from thousands of small business owners,” Ms Farmer said.

You can check your business eligibility here, learn about mentoring sessions here and preview the application form here. Find out more about upcoming grants here.

May 15th also marks Love Your Small Business Day in Queensland (#loveyoursmallbusiness #qldsmallbiz #bouncebackbetter). More info can be found here if you’d like to participate.

And there are loads of free business skills and networking events throughout the month. View the event calendar here.

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