The Victorian Business Growth Fund, worth $250 million, will be set up to help these enterprises create jobs and access capital. In announcing $50 million to go towards the new Fund, Treasurer Tim Pallas said leading superannuation groups VicSuper and First State Super will assist in the fund’s development.
He said the ultimate aim of the fund, set to be the biggest of its kind throughout the country, is to create employment opportunities for thousands of people by investing in Victorian businesses that are established, adding:
“The Victorian Business Growth Fund will give some of our best small and medium sized businesses the incentive to take on new ventures and employ more Victorians.”
Small Business Minister Adem Somyurek said that the fund will be of particular benefit in helping small businesses obtain much needed affordable capital for growth. Business Cards can be a useful tool in networking and helping businesses to grow.
CEO of First State Super, Deanne Stewart, said to reach their full potential and move ahead with the enterprises, some medium and small-sized businesses just needed to access affordable capital. She said investing in companies that had reached the next stage of their expansion programme was something in which First State Super had long wanted to do.
The fund targets many established enterprises that are already well-recognised within local communities.Get a Free Quote for Business Cards