If you have a viable business with an ABN and a track record then there’s a good chance that there are government funding programs that you could access to give you a cashflow boost.
Some of these grants require you to co-contribute funds to the relevant activity while others are 100% grants. They all have specific eligibility criteria and many of them are competitive grants, where you will compete with other applicants for the funds based on merit. Take the time to review the specific eligibility criteria of each grant and make sure you meet the criteria exactly!
A couple of grants that I wanted to highlight are:
THE ENTREPRENEUR PROGRAM – GROWTH GRANTS. If you are a stable Australian business (operating for more than 3 years with an ABN), have a turnover of over $1.5M (less in remote areas) and are involved in, or provide support services or products to, the following target growth Sectors:
- Advanced Manufacturing,
- Food and Agribusiness,
- Medical Technologies and Pharmaceuticals,
- Mining Equipment, Technology and Services
- Oil, Gas and Energy Resources
Then this Federal Government Program has resources and grants to assist you including Growth Grants of up to $20K matching funds (you spend $40K and the Government rebates you $20K) for use with professional services to help you grow. It is a continuous grant program that has lots of flexibility in helping you get the assistance you need to grow your business. More info at https://business.gov.au/grants-and-programs/growth-grants
IGNITE IDEAS FUND – This Queensland Government Grant (obviously open to QLD based businesses only) opens tomorrow 1 July 2021 is available to assist in the commercialisation of highly innovative and new products or services that are at a minimum viable product stage or beyond. This competitive grant can provide between $100K and $200K of funding to QLD based businesses with less than 50 employees. Some cash contribution is required from successful applicants. More information – https://advance.qld.gov.au/entrepreneurs-and-startups-industry-small-business/ignite-ideas-fund
ADDITIONAL RESOURCES
Navigating the sea of potential government assistance is a big job and the following resources may help make this easier for you.
INDIGO GOLD – Prue Saxby https://indigogold.com.au/ provides great resources for helping you access grants and write your applications. You can subscribe to her free grant email on her website where she will update the latest grants available. A tremendous resource.
QLD Small Business Grants – this is a good listing for some of the small business options with the next grant of $15,000 due for release in mid-July 2021 –
https://www.business.qld.gov.au/starting-business/advice-support/grants/schedule
Advance Queensland – a comprehensive list of many of the grants available to QLD based businesses. Look under “Programs and Funds” – www.advance.qld.gov.au
FEDERAL SUPPORT – Investigate options at www.business.gov.au/grants-and-programs There is a “grant finder” here but I found it fairly useless!
In each state, look at the government Business support website for relevant grants and programs.
- QLD – www.business.qld.gov.au
- NSW – www.business.nsw.gov.au
- VIC – www.business.vic.gov.au
- SA – www.business.sa.gov.au
- WA – www.smallbusiness.wa.gov.au
- TAS – https://www.stategrowth.tas.gov.au/grants_and_funding_opportunities
- ACT – https://canberra.com.au/business/grow/find-advice-and-financial-support/grants/
- NT – https://nt.gov.au/industry/business-grants-funding
Best of luck. Let me know if I can be of any assistance in helping you navigate the grant process.
Russ
