QUEENSLAND small businesses keen to fast track growth to create jobs and grow the economy will be supported by the State Government’s new Accelerate Small Business grants program.
Small Business Minister Leeanne Enoch launched the grants at DestinationQ in Mackay this week with Premier Annastacia Palaszczuk and said the program would provide targeted assistance for small businesses to engage high-level experts to boost business growth.
“By accelerating growth, this program will enable small businesses to grow and employ – meaning more jobs for Queenslanders,” Ms Enoch said.
“The Accelerate Small Business grants offer up to $10,000 per business, which must be matched by the participant, to either access one-on-one mentoring or put in place an advisory board.
“Through our successful Mentoring for Growth program we have seen evidence of how enabling small business to add these elements to their business toolkit has helped them grow their business and employ.
“Businesses mentored in 2014/15, reported that in 2015/16 they had increased employment by 12 per cent, turnover by seven per cent and gross profits by 18 per cent.”
Ms Enoch said the Accelerate Small Business grants will build on the momentum created by the Mentoring for Growth program and help take businesses to the next level.
“Accelerate is aimed at businesses that have reached a certain level of maturity and are ready to take the next step,” she said.
“The program calls on business owners to make a commitment to the success of the next stage of their development, including potentially moving to a medium-sized company.”
Ms Enoch said the Palaszczuk government was committed to creating the right environment where small business can start, grow and employ.
“With programs like Accelerate Small Business, our government is helping Queensland small businesses be in a stronger position to respond to competition, embrace new opportunities and grow into globally competitive businesses,” she said.
The Accelerate Small Business grants program is the first new program to be released under the Advancing Small Business Queensland Strategy 2016/20.
The strategy aligns with the $405 million whole-of-government Advance Queensland innovation and jobs initiative by giving small businesses the opportunity to achieve their growth aspirations and create jobs.
Further information about the program is available at www.business.qld.gov.au/accelerate
