The Australian State and Territory governments offer more than $3 billion in grants for small businesses each year. As a small business owner, you may not be aware of this. Consult with your small business accountant to find out about suitable grants as well as the tools available to you. Apply for these grants and give your business a good boost!
In Victoria, small businesses make for about half of all private sector jobs which is why the Government provides small business assistance programs, vouchers and grants to help small business owners with the resources they need. These programs can be used to grow an existing business or start a new one.
There are a couple of small business grants in Victoria that can be used for different services. To apply, you might need the help of a small business accountant in preparing your strategic / business plan, business modelling and budget and human resources review.
With the accelerating Commercialisation grant, an individual or partnership may receive $1 million on a 50% basis. This is available to incorporated businesses with up to $20 million of turnover. Meanwhile, the Government also offers six types of Apprenticeship grants.
Several grant programs are available to future industries such as pharmaceuticals, medical technologies, new energy, transport, food and fibre, construction, defence, professional services and international education. These grants, by supporting job-creating projects, help businesses grow.
You may also receive a Victorian ‘Boost Your Business’ voucher which can help your business improve market access and increase profitability, diversity and scale. Businesses in Victoria that have over $1.5 million turnover per year and employ between 20-200 employees may receive these vouchers. Please check with us for other requirements.
The Government is also providing $50,000 in assistance for Advanced Victorian Manufacturing, Asia Gateway, Defence, Aerospace and Security, Food Innovation and Victoria Israel Innovation areas. $25,000 is also available in the Social Enterprise Capability Stream.
There are many government programs that may be available to your small business, including free business monitoring sessions and mentoring programs. Contact your trusted accountant so you can navigate the different programs that can work for your business.
Our goal is to help you grow your business, find ways to invest more and increase your productivity. As you look for different ways to grow and improve your business, seeking professional advice from a small business accountant could prove to be an important and helpful decision. You can click here to speak to experts who specialise in startups and SME consultancy. We would love to help you formulate investment strategies and streamline your processes to take your business to the next level.