GOLD Coast businesses wanting to expand and employee more staff can now apply for up to $50,000 in funding under the state government’s Business Growth Fund.
Businesses with fewer than 50 employees and a minimum turnover of $500,000 can now apply for their chance to share in the $2.3 million fund.
Minister for Employment and Small Business, Shannon Fentiman said the fund would assist medium and small sized businesses reach their goals.
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“We know that small business take a lot of risks when expanding,” Ms Fentiman said.
“We want more businesses to expand sustainably with expert advice and support, to provide Queenslanders with strong stable jobs.
“That’s what this new fund will achieve and I’m pleased this fund will now assist medium and small sized businesses to reach their goals.
“The Business Growth Fund will provide targeted assistance so that businesses can purchase specialised equipment or access professional advice to help their business grow.
“This is a huge opportunity for Queensland businesses looking to take their business to the next level of growth, with more than $2 million in funding available.
“The Palaszczuk Government knows small businesses are the engine room of our diverse Queensland economy and investing in them to get off to the best possible start leads to more local jobs.
“Since the Palaszczuk Government came to office we have worked with business and industry to create more than 160,300 new jobs in Queensland.”
Managing Director of Gold Coast business Redzed Cookies Fleur Trickey is a previous grant recipient and welcomed the announcement of the new Business Growth Fund.
“We used our grant last year to engage with a business mentor to work toward expanding Redzed Cookies and now we are looking at entering the overseas market,” Ms Trickey said.
“When you’re running your own business it’s just you, so being able to connect with a professional mentor was invaluable.
“It’s like having access to your own board of directors who you can talk things through with and receive the advice and support you need to take your business to the next level.”
Applicants will go through a two-stage assessment process, including a Shark Tank-style pitch during which they’ll have to put their plans to a panel of business experts.
For more information on how to apply visit: www.business.qld.gov.au/growthfund