Funding boost for bush businesses now open
Published Tuesday, 21 November, 2023 at 11:30 AM
Treasurer and Minister for Trade and Investment
The Honourable Cameron Dick
- Applications open for $50 million Backing Business in the Bush Fund
- Fund open to Queensland SMEs launching projects in regional Queensland
- Boosting productivity, sustainability and competitiveness ensure regional businesses thrive
Applications are now open for a new Queensland Government fund that is backing Queensland businesses to deliver more bush projects.
The $50 million 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 5 and 199 employees and are involved in traditional industry sectors.
Targeted traditional industry sectors include value adding products in:
- 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.
Quotes attributable to the Treasurer and Minister for Trade and Investment Cameron Dick:
“When Queensland’s regions thrive, our 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.
“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.
“One in every four jobs in regional Queensland relies on exports, so we will do everything we 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.
“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.
Quotes attributable to Member for Rockhampton Barry O’Rourke:
“The best thing to combat the ongoing cost-of-living challenges is having a good local job.
“The $50 million Backing Business in the Bush Fund will be a catalyst for bush businesses to expand into new ventures, tackle new markets, improve their productivity and offer meaningful employment to locals.
“By strengthening bush businesses more people will have good local jobs in regional Queensland which will help them face the cost-of-living challenges.”
Quotes attributable to Member for Keppel Brittany Lauga:
“Small to medium sized enterprises are the backbone of every regional town.
“They sponsor the local sporting clubs, are the classrooms for our highly skilled tradespeople, provide the jobs that families need and offer the services which give each regional town its character.
“I’m proud to be part of a government which backs these regional businesses to dream big, take on new challenges and reach their potential.”
- Applications are open until 14 January 2024.
- Learn more about the Backing Business in the Bush Fund and download the fund guidelines for information on eligibility and how to apply.
Media contact: Geoff Breusch 0417 272 875