Queensland’s new fund backs bush manufacturers

Applications are now open for a new Queensland government fund that aims to back 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, according to an announcement.

The fund has a focus on those businesses that have between five and 199 employees and are involved in traditional industry sectors including value adding products in:

• Agriculture, forestry and fishing
• Mining, equipment, technology and services (METS)
• Transport and logistics
• And manufacturing related to agriculture, forestry, fishing, mining, processing minerals, transport and defence.

Queensland Treasurer and Minister for Trade and Investment Cameron Dick (pictured) said: “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.”

Dick said one in every four jobs in regional Queensland relied on exports, with the government aiming to help expand and diversify Queensland’s ability to sell to the world.

“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.”

Picture: Cameron Dick