Twenty eight Queensland small businesses will share in $1.9 million to help them grow through the latest round of the state’s Business Growth Fund.
Through the fund, eligible Queensland small businesses can access grants of up to $75,000 to purchase specialised equipment to accelerate growth, increase production and expand their workforce.
Business Growth Fund recipients are expected to improve confidence for growth and diversification, while increasing productivity, profit and possibly their workforce, helping them make the move from small to medium-sized businesses.
The Sunshine Coast’s GeoDrill Australia, a family-owned business specialising in mineral and coal exploration, as well as geotechnical and water drilling services, will use a $75,000 grant to enhance capabilities of its fleet of three Hydrapower HP850 drilling rigs.
The business will engage a Toowoomba-based engineering firm to design, engineer and implement rig enhancements, which will upgrade depth capacity beyond 3000m and allow the business to remain competitive with interstate drilling rivals.
GeoDrill Australia Managing Director Thomas Partleton said the Business Growth Fund had helped the company prepare and launch a new brand, GD Water Solutions.
“With GD Water Solutions, we will service rural Queensland, providing end-to-end Water Solutions to Queensland businesses and families.
The Business Growth Fund Program is part of the Queensland Government’s Big Plans for Small Business Strategy.
Overall 110 businesses have been supported to-date, sharing in almost $5.7 million.
Picture: GeoDrill Australia