The Queensland Government is injecting $1.9 million into 28 businesses spanning from the Gold Coast to Cairns in a bid to foster growth and development across the Sunshine State.
The funds, distributed through the Business Growth Fund, aim to provide crucial support for these enterprises as they navigate the path from small to medium-sized businesses, the government said in a media statement.
The grant funding is also expected to enhance productivity, increase profitability, and potentially lead to workforce expansion.
According to the government, this initiative is a key component of the Queensland Government’s Big Plans for Small Business Strategy.
One notable beneficiary of this round is GeoDrill Australia, a family-owned business based on the Sunshine Coast.
Specialising in mineral and coal exploration, as well as geotechnical and water drilling services, GeoDrill Australia will receive a $75,000 grant.
The funds will be utilised to bolster the capabilities of its fleet, consisting of three Hydrapower HP850 drilling rigs.
To achieve this, GeoDrill Australia will collaborate with a Toowoomba-based engineering firm, and the goal is to design, engineer, and implement enhancements to the drilling rigs, ultimately increasing their depth capacity beyond 3000 meters.
Minister for Employment and Small Business and Minister for Training and Skills Development Lance McCallum highlighted the Queensland Government’s commitment to supporting small businesses for growth.
He emphasised the significance of these businesses identifying specialised equipment to elevate their operations.
McCallum also underscored the importance of backing small businesses, referring to them as the backbone of communities and the economy. He stated that supporting these enterprises contributes to a more robust economy.
“This latest round of the Business Growth Fund means more than 5,800 grants have been paid totalling more than $37 million through the Miles Government’s Big Plans for Small Business Strategy,” the minister noted.
Thomas Partleton, the managing director of GeoDrill Australia, expressed gratitude for the support received through the Business Growth Fund.
Partleton highlighted how the fund facilitated the preparation and launch of their new brand, GD Water Solutions. He detailed the expansion of their services to rural Queensland, offering comprehensive water solutions to businesses and families.
“Queensland Government support has helped our revenue grow by 44%, allowed us to employ an additional 12 team members over the last year and it’s keeping us competitive,” Partleton concluded.
