Accelerate Small Business Grants Program
The Queensland Government allocated $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. (An advisory board provides non-binding strategic advice to a management team).
The Accelerate Small Business Grants Program provided 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.
Matching funding of up to $10,000 (excluding GST) was provided to eligible businesses to engage business mentors, coaches, specialist consultants or an advisory board, for between 6 to 12 months. The funding was matched by a cash contribution from the participating business.
Two grant payments were 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.
To be eligible for this grant, the business must have had:
- a minimum trading history of 3 years at the time of application
- a minimum turnover of $500,000 in the previous 12 months
- fewer than 20 employees at the time of applying for the grant
- an Australian Business Number (ABN) and be registered for GST
- Queensland headquarters or significant Queensland operations
- competitive opportunities in domestic or international markets
- been experiencing growth and had clearly defined high-growth and employment opportunities
- not been insolvent or have owners/directors that are an undischarged bankrupt.
This grant was targeted at established Queensland-based small businesses that were financially sound and had 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 had a business plan in place, as well as the capacity to access finance to fund the growth of their business.
The Accelerate Small Business Grants Program has now closed and has been replaced by the new Business Growth Fund.
Read more about the Business Growth Fund.
You can subscribe to our newsletter to receive updates about all our grants.
For further information about this closed program, refer to the application guidelines or phone 13 QGOV (13 74 68).
- Last reviewed: 27 Mar 2018
- Last updated: 27 Mar 2018