Government Grants for Small Businesses in Queensland
Like most states, Queensland heavily relies on small businesses to power its local economy. Acknowledging their importance, the Queensland government offers various grants aimed at fostering growth, innovation, and sustainability among start-ups and growing enterprises. Whether you’re leading a start-up looking to make a name for itself or a small manufacturing business ready to expand, knowing about the government grants for small businesses in Queensland can be a game-changer. Read on to explore these grants & how they can help propel your business growth.
Key Takeaways of Government Grants for Small Businesses in Queensland
| Key Point | Description |
|---|---|
| Female Founders Co-Investment Fund | This is a Queensland initiative offering grants from $50,000 to $200,000 to support female directors. Eligibility includes a business being Queensland-based, 100% female-founded, and having more than 50% female ownership. |
| Indigenous Native Food Program | A collaboration between the Department of Agriculture and Fisheries and the Queensland government, this grant focuses on developing commercial opportunities for Indigenous native food businesses. |
| New Market Program | This program offers matched funding grants of up to $25,000 for Queensland businesses expanding into new overseas markets, covering costs like market research and trade show attendance. |
| First Start Loan – Commercial Fisher | This program provides concessional loans of up to $2 million for new entrants and existing operators in Queensland’s commercial fishing industry, aiding in business acquisition, upgrade, or expansion. |
| Start-up Finance Package | This offers loans up to $100,000, with up to 30% as a grant for Aboriginal and Torres Strait Islander individuals and businesses in Queensland, supporting new business ventures with flexible repayment options. |
| Seek Additional Financial Support Through darkhorsefinancial.com.au | For Queensland businesses needing more than government grants, Dark Horse Financial can assist by introducing a range of solutions, including lines of credit, equipment financing and cash flow lending options. |
Female Founders Co-Investment Fund
Are there any government grants for a small business led by a woman? There is one in QLD. The Female Founders Co-Investment Fund is a pioneering initiative designed to support Queensland’s female directors. The fund offers grants that range from $50,000 to $200,000, which should be matched at a 3:1 ratio over a year. These grants can be utilised for either a single investment or a funding round led by an eligible investment entity. With this grant, female founders can leverage funding and secure new investments to grow their innovative businesses in different industries.
- How to apply for this grant: Eligibility for the Female Founders Co-Investment Fund includes being a Queensland-based business with an ABN and GST registration, being 100% female-founded at incorporation, and having more than 50% female ownership at the time of application.
Additionally, the business should not have received investments, grants, or accelerator funding totalling more than $500,000 and should not be a past recipient of the Ignite Ideas Fund. For the full list of eligibility requirements and other details, don’t hesitate to check out Advance Queensland.
Indigenous Native Food Program
The Indigenous Native Food Program (INFP) is a collaborative initiative between the Department of Agriculture and Fisheries (DAF) and the Queensland government, aiming to explore and develop commercial opportunities for promising Indigenous native food businesses. This program is a response to the growing popularity of native foods, which have been a staple in Indigenous diets for over 80,000 years.
The program focuses on helping successful applicants develop innovative Indigenous native food products and increasing their competence to bring these products to market. It also helps them secure more funding from other sources.
- How to apply for this grant: If you’re a food manufacturing company or any business in Queensland trying to commercialise native food products, this program can be a good fit for you. To apply, you can simply contact the DAF Customer Service Centre at 13 25 23.
You can also send an email to info@daf.qld.gov.au to learn how to get grant money for a small business through Queensland’s INFP.
New Market Program
The New Market Program, part of the Queensland Trade and Investment Strategy 2022-2032, is another available grant for businesses in the state. It is designed to help local businesses expand into new overseas markets. This program is not only relevant for Queensland goods but is also highly suited to the professional services sector. It offers matched funding grants of up to $25,000 (excluding GST) to cover costs associated with entering a new export market. These costs can include market research, in-market representatives, marketing materials & trade show attendance.
- How to apply for this grant: Applying for the New Market Program is one way to get grants for your small Queensland business trying to expand globally. However, you must meet specific criteria and be pre-qualified.
For detailed information on the assessment process, applicants are encouraged to read the New Market Program guidelines and application guide.
First Start Loan - Commercial Fisher
Want to know how to get grants for your small business in the commercial fishing industry? Explore the First Start Loan – Commercial Fisher program. It is a unique initiative designed to support the commercial fishing industry in Queensland. This program offers concessional loans of up to $2 million to help new entrants and existing operators in the commercial fishing industry. The loans will assist with operating or acquiring an existing commercial fishing enterprise. You can also use the loan to upgrade or expand your commercial fishing business in Queensland.
The program focuses on helping successful applicants develop innovative Indigenous native food products and increasing their competence to bring these products to market. It also helps them secure more funding from other sources.
- How to apply for this program: Eligibility for this program includes being a Queensland resident for at least the past six months and a new entrant or existing operator in the commercial fishing industry.
Applicants must also demonstrate their capacity to repay the loan through sound prospects for the commercial viability of their commercial wild-cath business. Check out the guidelines for more information.
Start-up Finance Package
Unlike other government grants for small businesses in QLD, the Start-Up Finance Package offers loans of up to $100,000 to help new businesses get off the ground. The Start-Up Finance Package includes up to 30% of a new business loan as a grant to help small businesses purchase essential assets; this portion does not need to be repaid. Moreover, this financing package comes with flexible repayment options, minimum security requirements and zero application or line service fees.
- How to apply for this program: Firstly, applicants must be at least 18 years old and of Aboriginal and/or Torres Strait Islander descent. Additionally, the business in question should be at least 50% owned by you or have a minimum of 50% ownership by individuals of Indigenous descent. Your business should also have an actual annual turnover of less than $400,000 and must have been trading for less than two years. Lastly, you must have a commercially viable business model.
Seek Additional Financial Support Through Dark Horse Financial
If you need additional financial support apart from government grants for small businesses in Queensland, Dark Horse Financial can offer you a range of solutions. Our experienced lending experts are here to help you launch a new venture or expand an existing small or medium-sized enterprise in Queensland. We will connect you with the right solutions, be it equipment financing for essential machinery purchases or specific cash flow lending options.
Contact us today to explore more financing solutions for your small business in QLD.
