Two grants have recently been released to Queensland based businesses looking to invest in manufacturing or to scale their business. The two grants are detailed below.
Made in Queensland Program: Additional funding of $20m for Queensland manufacturers
The Made in Queensland program has re-opened for applications today with an additional $20m in grants available. The grants are for QLD based manufacturing businesses looking to install/implement innovative and market leading technologies. EOI applications close on the 24th of May.
- The program can provide funding of up to $2.5m to Queensland based manufacturing businesses to become more productive, grow, and innovate. Funding is provided on a 50% co-contribution basis;
- The program is aimed at SME’s that employee between 5 and 200 people;
- The funding can be used for the purchase of
- leading edge manufacturing equipment; and/or
- the purchase of professional advice that involves the implementation of a processes or use of technology not currently used.
Queensland Government, Business Growth Fund Program: Funding to Scale
Scaling up and expanding food manufacturing facilities represents a specific challenge to for SME’s looking to take advantage of market opportunities. One of the largest barriers often faced is getting early access to the right expertise in planning expansions and in developing commercial designs and plans that are tailored for the business. Accessing advice and expertise early allows for the development of robust business initiatives that can be executed efficiently and provide a robust basis for financier and funding conversations.
In recognising the importance that early advice can play to SME’s the Queensland Government have recently launched its Business Growth Fund Program. The program is targeted at SME’s with high-growth aspirations that may be seeking early professional assistance in developing feasibilities for expansion. Funding is also available for the funding of specific process and production equipment that forms part of expansion planning.
Funding of up to $50,000 can be accessed (on a matched basis) and will be provided up-front following a successful application.
The grant is specifically for Queensland based SME businesses that:
- Have fewer than 50 employees (when applying for the grant);
- Have a minimum turnover of $500,000 for the last financial year;
- Have a trading history of at least 3 years; and
- Are seeking to grow into both domestic and/or international markets.
These grants are a great opportunity for manufacturers that might be looking to grow and improve their technical sophistication to work with Wiley and deliver meaningful business change.
