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.

Further details about the program, including guidelines and how to apply, can be found here.

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