Helping to Grow your Business
The Queensland Government funded BGF program provides funding for small and medium-sized businesses who experience high-growth to assist with the purchasing of specialised equipment to further growth potential, increase production, and support employee expansion and higher economic returns.
Small to medium sized business owners who are financially sound, and can demonstrate high potential for growth in the next two years can be eligible to receive the BGF. Where a 20% growth of productivity, turnover, profit, and/or employment within the previous 12-months can be shown, application for the funding may be a consideration for you and your business.
- Businesses trading for a minimum of 3 years at the time of application
- A minimum turnover of $500,000 for the 2019-20 financial year
- Less than 50 employees at the time of application
- An active ABN that is registered for GST
- Queensland business location
Business owners can be eligible for up to $50,000 (ex. GST) in a single up-front payment. Funding is dependent on the business’ ability to self-fund a minimum of 25% of the project costs to buy and implement the specialised equipment which must have direct link to increasing employment and maximising economic return. The premise is that the purchasing of equipment will allow you to meet otherwise unachievable growth demand.
The BGF program has a competitive assessment process and is awarded to business who successfully pass the 3-stage process. If you would like to check your suitability of this funding for your business, or would like assistance in the application process, please reach out to your Walshs Partner who can discuss this with you in more detail.
As always, we are here to work with you towards your financial goals and provide strategic advice to get you there.
If you would like to read more about this funding via the Queensland Government website you can click here. Otherwise, for more detailed information and advice on any other matters related to the above content, please contact Walshs on 07 32215677 or email your relevant partner advisor