Grants open for small businesses looking to grow
The State Government has recently opened applications for the second round of the $3 million Accelerate Small Business Grants program.
The program is targeted at businesses which have the potential to achieve high-growth over the next two years and provides funding for expertise which can help business to achieve that growth.
High-growth is defined by the government as a 20% increase in turnover or employment.
Up to $10,000 of matched funding is available for a business looking to engage an advisory board or independent advisor.
Eligibility requirements include a minimum 3-year trading period, at least $500k annual turnover and fewer than 20 employees.
In addition, applicants must have a business plan in place, as well as the capacity to access finance to fund the growth of their business.