How to find government grants and support
Bringing capital into your business gives you the funding to bring your strategic and growth plans to life. But finding that funding isn’t always plain-sailing.
One important way to boost your capital is to search for government grants and loans.
The Federal Government’s grant finder tool currently lists 537 different grants and programs for businesses. And each state will have its own grants and incentive programmes available.
Let’s take a look at four of the current opportunities that are open to your business.
1. Industry Growth Program
The Industry Growth Program provides advisory support and funding for startups and small and medium enterprises (SMEs). To qualify, you’ll need to be undertaking innovative commercialisation and/or growth projects that are within the priority areas of the Australian Government’s National Reconstruction Fund (NRF).
You’ll be connected with an Industry Growth Program Adviser to provide advisory support and, following this advice, you’ll be able to apply for:
- Grants of $50,000 to $250,000 to support early-stage commercialisation projects
- Grants of $100,000 to $5 million for commercialisation and growth projects.
2. NSW Rural Assistance Authority natural disaster relief loan
If your NSW business has been affected by a declared natural disaster, you may be eligible for a low-interest loan of up to $130,000 through the NSW Rural Assistance Authority.
These loans offer a two-year interest and repayment-free period and can be used for essential working capital or to repair and replace damaged assets. To qualify, you must have sustained direct damage, be located in a declared disaster area, and meet specific eligibility criteria.
3. Financial incentives to hire new staff
The Federal Government offers wage subsidies as an incentive to take on new workers.
Wage subsidies provide financial incentives for employers to hire and retain eligible participants in ongoing and sustainable positions. If you’re an Australian business with an ABN number and plans to hire more staff, you can claim subsidies up to a maximum of $10,000.
4. Loans for Aboriginal and Torres Strait Islander-owned small businesses
If you’re an Aboriginal or Torres Strait Islander business owner, you may be eligible for a loan to support your business.
This loan can be used to fund working capital requirements, purchase of existing businesses, plant and equipment and other commercial assets.
Helping you source the most effective government funding
This is just a fraction of the available federal and state-specific grants, loans and funded opportunities that are available to you as an Australian small business.
Come and talk to our team about your strategic goals, funding requirements and where we can match you up with the most relevant government funding.
