Do you run a small or medium sized business in Queensland? Do you have the need of funds to grow your business and to take it to the next level? If yes, then you are in luck as Queensland government has initiated a new program called Business Growth Fund Grant. This program aims to provide financial assistance to eligible business owners to generate more employment for Queenslanders and to put the economy of the state on a fast track.
Under Business Growth Fund (BGF) program, a business can hope to get financial help of up to $50,000. Di Farmer, the Minister for Employment and Small Businesses has said that this initiative from the government will provide the necessary impetus for employment generation and faster growth of the economy of the state. The Minister added that these grants will be given in high numbers as the government has allocated a whopping $2.5 million for this grant program.
Business Growth Fund Eligibility
Eligibility criteria
- Your business must be located in Queensland
- Business must be operating for the last three years
- Annual turnover of your business in the last financial year must not be less than $5,00,000
- There must be less than 50 employees in your business
Also, please remember that your business must be registered under GST and have an ABN. And your business should be experiencing growth and it must have employment opportunities for the local population. The products or services provided by your business must have clear opportunities in the domestic or the overseas markets and should not be an insolvent. Lastly, you must not have applied for a bankruptcy before.
The news about the latest grant program from the government has spread like wildfire. The grant is currently open (stage 1 kicks off from 11 May 2021). No closing date has been given by the government which means that it will go on until funds for the program get exhausted. First stage of this grant program has a mentoring session to help interested applicants in understanding their business needs and how to complete the application process without experiencing hurdles.
-Updates for 2026-
Strategic Equipment Upgrades: What the Fund Actually Covers
To successfully secure the Business Growth Fund, your application must demonstrate how the equipment will unlock a specific “growth ceiling.” The Queensland Government prioritises “specialised equipment” over general business tools. This typically includes advanced manufacturing machinery, high-tech digital hardware (not standard laptops), and automated production systems that reduce manual labor costs or increase output volume.
Pro-Tip for 2026 Applicants: Before the next round opens, ensure your quotes are no more than 30 days old and explicitly state how the technology improves your business’s “Sovereign Capability” or export potential. If you are a solopreneur looking for smaller-scale support, you may find the Sole Trader Grants QLD more accessible, as the Business Growth Fund requires an established turnover of at least $300,000.
How to Prepare for High-Demand Rounds
Because the Business Growth Fund operates on a “first-come, first-served” competitive assessment, the window to apply is often measured in hours, not days. Preparation is your only competitive advantage. You must have your three most recent years of financial statements and a detailed project plan ready to upload the moment the portal goes live.
To maximise your chances, we recommend reviewing our guide on How to Strengthen Your Grant Application. Using a “data-first” approach, showing exactly how many new jobs the equipment will create, is the most effective way to move your application to the top of the pile.
The Competitive Advantage: Financial Viability
A common reason for rejection is a failure to prove the 25% co-contribution. The Department of Employment, Small Business and Training (DESBT) requires evidence that your business is not only profitable but has the cash flow to sustain the growth the grant facilitates. If your business is in the startup phase and doesn’t yet meet the 3-year trading requirement, explore our Startup Business Grants Australia directory for alternative funding pathways.
How to Prepare for High-Demand Rounds
Because the Business Growth Fund operates on a “first-come, first-served” competitive assessment, the window to apply is often measured in hours, not days. Preparation is your only competitive advantage. You must have your three most recent years of financial statements and a detailed project plan ready to upload the moment the portal goes live.
To maximise your chances, we recommend reviewing our guide on How to Strengthen Your Grant Application. Using a “data-first” approach, showing exactly how many new jobs the equipment will create, is the most effective way to move your application to the top of the pile.
The Competitive Advantage: Financial Viability
A common reason for rejection is a failure to prove the 25% co-contribution. The Department of Employment, Small Business and Training (DESBT) requires evidence that your business is not only profitable but has the cash flow to sustain the growth the grant facilitates. If your business is in the startup phase and doesn’t yet meet the 3-year trading requirement, explore our Startup Business Grants Australia directory for alternative funding pathways.
As there are hundreds of small and medium sized business across the state at different levels and stages of growth, it becomes important for applicants to understand the eligibility criterion clearly. While the Queensland government has simplified the process of application, the success of businesses in receiving financial assistance under this program depends a lot on fulfilling the eligibility conditions.
Once you are sure your business fulfils eligibility criterion, it is time to start the application process. As mentioned earlier, the first stage of application involves mentoring session that is according to your business plans and goals. After this session, you will be provided with all the details that are necessary for applying for Business Growth Fund grant. Registrations for mentoring sessions are currently open and you should apply for it if your business fulfils eligibility criterion.
Please do not hesitate to get your queries answered by contacting one of our advisers. They will be more than happy to assist you in applying for a grant under this program.
