- The Miles Labor Government’s Business Growth Fund gives small businesses a boost.
- Dozens of businesses throughout Queensland will benefit from the latest round of funding.
- Through the fund, eligible Queensland small businesses can access grants of up to $75,000 to purchase specialised equipment to accelerate growth, increase production and expand their workforce.
From the Gold Coast to Cairns, 28 businesses will share in $1.9 million to help them grow.
With grant funding, Business Growth Fund recipients are expected to improve confidence for growth and diversification, while increasing productivity, profit and possibly their workforce, catering for their transition from small to medium-sized businesses.
The Sunshine Coast’s GeoDrill Australia, a family-owned business specialising in mineral and coal exploration, as well as geotechnical and water drilling services, will use a $75,000 grant to enhance capabilities of its fleet of three Hydrapower HP850 drilling rigs.
The business will engage a Toowoomba-based engineering firm to design, engineer and implement rig enhancements, which will upgrade depth capacity beyond 3000m and allow the business to remain competitive with interstate drilling rivals.
The Business Growth Fund Program is a highly valuable support initiative of the Queensland Government’s Big Plans for Small Business Strategy..
110 Queensland businesses have been supported to-date, sharing in almost $5.7 million.
See attachment for the full list of the Business Growth Fund Round 5 recipients.
