Want to grow your business? The good news is that the Australian government and other organisations provide a wide range of grants and subsidies to start-ups and small businesses through grants and subsidies. This support not only gives you cash to invest in your business (think new equipment or marketing), it can also provide access to specialists who can provide an outsider’s perspective on your business and suggest ways to improve. In the long term, this may be more valuable than the dollars. Getting your hands on this support is not a walk in the park. Be prepared to commit time to the application process, and then wait. But if you’re one of the lucky ones, it can be a game changer for your business.
Here are some grants and subsidies that are worth the effort:
Australian Government’s flagship initiative for business competitiveness and productivity, the Entrepreneurs’ Programme offers support to businesses across a number of areas. One of these is business management, which gives you access to experienced Business Advisers and Facilitators who review your business operations, provide strategies for business improvement, and then work with you to make them happen. Applications are ongoing.Read more about the Entrepreneurs’ Programme
Business Growth Grants
Administered by AusIndustry, Business Growth Grants can be used to engage a consultant to improve your business. To qualify for these grants, you have to go through a ‘business evaluation’ as part of the Entrepreneurs’ Programme.
Small Business Rebate in NSW
Open to small businesses in NSW,the Government provides a rebate of $500 to small business owners when they buy and install solutions to address safety problems in their workplace. There are a few criteria you need to tick first, so check the website for the latest information.
Subsidies & Rebates for Employers
Growing a team from scratch isn’t easy and retaining great staff doesn’t come cheap. If you’re looking to expand your workforce, or employ staff for the first time, there’s a number of subsidies and rebates on offer:
- Wage subsidies provide Australian businesses with financial incentives to hire and retain eligible job seekers in ongoing and sustainable positions – up to $10,000 is on offer.
- The Small Business Grant gives NSW employers a one-off payment of $2000 for each new full-time position opened in your business. Claim the grant once the position has been in place for 12 months.
- Australian Apprenticeships Incentive Programme provides a one-off payment between $750 and $4,000 to businesses that employ an apprentice. The amount paid depends on the certificate level completed. There is also financial support support for businesses that take on mature-aged apprentices and those with disabilities.
Look to your local community for grants and subsidies too. Some local councils and even banks offer generous grant schemes to help small businesses grow and thrive. For example, the City of Melbourne’s small business grants program provides financial assistance to support market-ready products and services that enhance the city’s reputation for innovation and creativity, and contribute to a thriving, sustainable business culture. The City of Perth also provides a Small Business Grant of up to $5,000.
You can also check out our post on Where do you get your business advice from? –chat to us about a complimentary 30-minute discussion with Michael about growing your sustainable energy business.