The Accelerate Small Business Grants Program provides targeted assistance to small businesses that demonstrate high-growth and employment aspirations, to enable them to engage high-level experts and strategic advisors to work closely with them in their business.
The Queensland Government is providing $3 million in grant funding over 3 years to established Queensland-based small businesses to engage business mentors, coaches, specialist consultants or an advisory board, for a 6 to 12 month period.
Matching funding of up to $10,000 (excluding GST) may be provided to eligible businesses to engage business mentors, coaches, specialist consultants or an advisory board, for between 6 to 12 months. The funding must be matched by a cash contribution from the participating business.
Two grant payments will be made directly to the business, with 50% paid on grant approval and on receipt of a valid tax invoice, and a further 50% paid on successful completion of the project.
This grant is targeted at established Queensland-based small businesses that are financially sound and 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 participant applying must have a business plan in place, as well as the capacity to access finance to fund the growth of their business.
Applying businesses must have a clearly defined opportunity and plan for growth, and demonstrate how engaging external advice will allow the business to achieve these goals.