QUEENSLAND businesses looking to deliver more bush projects are now able to apply for a $50 million fund to expand their business and services.
The Backing Business in the Bush Fund will support small to medium sized enterprises (SMEs) that are looking to expand, enhance or diversify their business operations across regional Queensland.
By investing in productivity and efficiency, technology and infrastructure, employment and upskilling, long-term sustainability and competitiveness, businesses with regional projects will be encouraged to take their growth to the next level.
The fund has a focus on those businesses that have between five and 199 employees and are involved in traditional industry sectors such as agriculture, forestry and fishing, mining, equipment and services (METS), transport and logistics, and manufacturing related to agriculture, forestry, fishing, mining, processing minerals, transport and defence.
Treasurer and Minister for Trade and Investment Cameron Dick said when Queensland’s regions thrive, the economy thrives too.
“Small and medium Queensland businesses have been calling for extra support to help launch new business projects in the regions – the Backing Business in the Bush Fund delivers that support,” he said.
“It also reinvests more of our progressive coal royalties back into regional Queensland.
“Businesses and projects from Texas to the Torres Strait are eligible to apply for support to make the most of new opportunities to grow their domestic markets in Australia as well as internationally.”
Mr Dick said with one in every four jobs in regional Queensland relying on exports, the State Government will do everything it can to help expand and diversify Queensland’s ability to sell to the world.
“I encourage SMEs to take a look at the funding guidelines and to get their applications by the closing date,” he said.
“Project funding will range from $500,000 up to $2 million and will cover up to 50 per cent of a project’s eligible capital expenditure, so we expect these grants will be in high demand.”
Keep up with the latest news in Cairns and the Far North, and check out some of our top stories this week: JCU develops farm injury prevention game and Peeping Tom found with child exploitation material.
