There’s some good news for all budding entrepreneurs and business owners in Australia; a number of government grants are now available to help you upkeep your business goals and projects towards reaching your best potential. We, at Trendsight, can help with small business bookkeeping in Melbourne and also educate on the number of government grants available today for contenders like yourself. Read onwards to find out more.
Recent studies have found 2.4 million small businesses are budding in Australia. It is very important for any business owner to secure funds and grants in order to expand their ventures. Fortunately, there are government and non-government funded grants that can help business owners get some help. When it comes to government grants, finding out if you are eligible for the same and the procedure of application can be complicated. Let’s explore what government grants are available for small businesses Government Programs
Government grants available for small businesses:
- The Entrepreneurs’ Programme: Depending on the type of venture a business is in, The Entrepreneurs’ Programme offers a funding of $1 million maximum. The goal of this program is to help with the growth of business and increase productivity to help businesses compete in the market place effectively. Businesses don’t just receive funding, but SME’s can also enjoy expert advice and additional incentives. Companies involved in sectors such as Food & Agriculture, Medical Technology, Mining, Advanced Technologies and Pharmaceuticals are eligible for this grant. The Northern territory’s tourism industry is also eligible.
- Accelerating Commercialisation: The Accelerating Commercialisation program helps businesses commercialise their business by setting up branches in different parts and territories of the country other than their current state. A maximum of $1 million of funding can be secured by SMEs to help introduce a new service or product to the market. You must be able to fund 50% of the project and must be an Australian business with a product, service or process to be eligible.
- Export Market Development Grant: The Export Market Development Grant was introduced to motivate exporters to find an export market for their benefit. This grant offers 50% reimbursement for all the activities carried out to promote services and products in the international marketplace. The minimum funding that can be secured from this grant is $5000 and the maximum is $150,000. You must have a total income of less than $50 million and must be the principal of the export goods rather than an agent to be eligible.
- Australian Landing Pad: The Australian Landing Pad grants provides exposure for start-ups and small businesses to gain a foothold in global business settings in China, Germany and Singapore. SMEs can access global innovation hubs and advice on how to grow their business in a new, unexplored market.
- Australian Apprenticeship Incentives Program: The Australian Apprenticeship Incentives Program provides incentives to businesses that give quality training to hired apprentices. Through this program, businesses can hire help for their workload as apprentices for a lower pay out than normal employees. The Australian Apprenticeship Incentives Program offers incentives ranging from $750 to $4,000 annually. To be eligible for this program, you must have a training contract with an apprentice. Offering the training at Diploma, Certificate II, III, IV or Advanced Diploma level is also needed.
Grants By State
A number of grants are offered by different states for small businesses in their territory. Here are some of the grants, state-wise, that you can look up for future reference:
- Northern Territory: Business Growth Plan
- Tasmania: Business Growth Loan Scheme
- Western Australia: The New Industries Fund
- South Australia: The SA Venture Capital Fund
- Queensland: The Queensland Program & The Business basics Grant Program
- Australian Capital Territory: The Innovation Connect Grant
- Victoria: The Future Industries Program
- Now South Wales: The Minimum Viable Product Grant
Other grants for small business start-ups like Grant Gurur, Grant Hub and CISRO KickStart Grant are also available for those in need. With the help of numerous grants put in place by the government to help all those who wish to grow their business, Australian business owners can benefit quite a lot from these programmes. If you’re eligible for any of these grants, apply today. If you’re a small business looking for small business bookkeeping in Melbourne that can help you with a difficult process like this, reach out to us at Trendsight. Contact us by ringing 03 9344 1566 or email us at firstname.lastname@example.org for further enquiries on how to reach your business goals today.