The Motor Trades Association of Queensland (MTA Queensland) encourages small to medium member businesses to apply for the Business Growth Fund Program which will provide funding of up to $50,000 (excluding GST) for eligible businesses to purchase and implement highly specialised equipment or services, and enable them to move to the next stage of growth.

The Business Growth Fund Program is a grant program which provides targeted assistance for small and medium businesses that demonstrate high-growth and employment aspirations. The fund will enable successful applicants to purchase and implement specialised equipment or services to help them seize growth opportunities.

The Business Growth Fund will consider businesses who engage business consultants or advisers to provide advice. MTA Queensland Corporate Partner CORE SME is a vendor neutral business specalising in reducing operating costs, increasing profit and streamlining workflow. CORE SME provides the following services to members:

• Managed print services – the supply of printers, photocopiers, scanners, toner and servicing
• Process mapping – business process mapping refers to activities involved in defining what a business entity does, who is responsible, to what standard a business process should be completed, and how the success of a business process can be determined
• Document automation – taking all paper based documents in your business and creating a digital version that has the potential to email your customers automatically and drop information straight into your internal systems such as CRMs, accounting software and suppliers
• Electricity and gas services – brokering new rates to reduce operating costs
• Solar and battery solutions – installation and management of solar solutions
• IT services – day to day IT support for your computers and staff, software licences and renewals
• Business brokering – are you looking to buy or sell a business?
• CRM services – manage your customers and bookings through a Customer Relationship Management system including conversations, bookings and general history of your customers
• Bookkeeping services – services start as low as $7k pa for small businesses
• Business development –  if you are having trouble bringing in new business we have experts in this field

We encourage you to contact info@mtaq.com.au to discuss engaging with CORE SME in the interest of applying for the Business Growth Fund.

Available funding

Successful applicants must provide a co-contribution of between 25% and 50% of the total project cost. The government contribution will be determined by an assessment panel.

Examples of eligible highly specialised equipment includes (but not limited to) the following:

• production equipment to meet otherwise unachievable growth demand
• advanced manufacturing or digital equipment and systems
• advanced logistics systems and equipment.

Previously the Business Growth Fund considered specialised services in proposals. By exception, we will consider proposals where the business will:

• engage business consultants or advisors to provide advice (e.g. on business structures and governance, systems improvement, export and commercial negotiations)
• intellectual property (IP) advice
• engage an advisory board.

If you wish to apply with a proposed component of specialised services, please seek prior approval by phoning 13 QGOV (13 74 68), or emailing grants@desbt.qld.gov.au.

Your proposal must have a direct link to increasing employment or contributing to your business’ growth strategy. If your application is successful, a single up-front grant payment will be made directly to the business.

Eligibility criteria

To be eligible for this grant, the business must:

• have a minimum trading history of 3 years at the time of application
• have a minimum turnover of $500,000 for the last financial year
• have fewer than 50 employees at the time of applying for the grant
• have an Australian Business Number (ABN) and be registered for GST
• have Queensland headquarters
• have competitive opportunities in domestic or international markets
• be experiencing growth and have clearly defined high-growth and employment opportunities in Queensland
• not be insolvent or have owners/directors that are an undischarged bankrupt.

Your business must have the potential for high-growth within the next 2 years. High-growth is generally considered to be a 20% increase in turnover or employment.

The applying business must have:

• a business plan in place
• the capacity to access finance to fund the growth of their business
• clearly defined an opportunity and plan for growth
• demonstrated how the funding will assist the business to achieve these goals.

Only 1 application will be accepted from an individual ABN or a financial beneficiary of a business for consideration at any one time.

Previously successful applicants cannot reapply for funding under this program.

Who should apply

Businesses applying for funding must use the grant to manage and finance their business expansion, including but not limited to:

• increasing employment
• improving management processes and systems to increase productivity and efficiency
• introducing product processes or systems innovations
• entering new markets
• increasing turnover/sales.

Applying for the grant

Round 2 is now open and will close for assessment of applications from 17 February 2020.

Find out more HERE

3 Dec 2019