Here, Prospa has assembled some simple information that you might find helpful for finding and securing a government grant for your own business and getting some financial help that may secure your ongoing business success.
Can I get a grant to start a small business?
The quick and simple answer is most likely yes. The more complicated question is what kind of grant is your business able to apply for and what type of government grant will be of the most help.
Depending on the business, and depending on where you’re operating, there are all kinds of government assistance schemes available. Grants can be given as lump sum amounts or as small business incentives such as the Australian Apprenticeships Incentives Programme designed to help small businesses explore expanding their staff and offering opportunities for young people to secure apprenticeships.
There are all kinds of wage subsidies available for all kinds of employment opportunities helping small business development and creating opportunities to explore new staffing options without significant overheads. Staffing options for small business grants NSW include subsidising full-time employees by providing up to $2000.00 per week per employee. These grants also apply to casually employed staff who work at least 35 hrs per week.
Small business grants QLD provide ongoing financial support to help with the cost of innovating, research and development, and expansion. There are also options for mentoring, industry training and networking opportunities for building up your business profile. Similar options exist for small business grants WA where your expansion into exporting could be subsidised or financially supported with local, state or federal government support.
The most popular and accessible types of small business grants SA and small business grants Victoria are soft-skills training and support. Finding the opportunity to learn new skills and searching out industry-specific training are two often overlooked aspects of keeping a small business relevant and up to date. In this area particularly, the government offers a range of grants accessible to all kinds of industries such as trades and hospitality.
How to apply for a small business grant
It’s easy to apply for most small business grants available. There are all kinds of grants offered by all kinds of government levels but a great place to start looking is on local and state government websites. Available grants will often have a link to apply directly online or downloadable applications you can fill in later.
The Department of Industry, Innovation and Science offers a one-stop website where you can search for potential grants applicable to your state, needs and industry level. There are additional options for operators working remote or rural areas too. Check out www.business.gov.au for more information.
Do you have to pay back a small business grant?
Small business grants are designed to offer businesses financial support and particularly target new businesses trying to get over the tricky stage right at the beginning. It will depend upon which type of grant you intend to apply for, or ultimately receive. Most grants are given based on business performance levels or, in the case of staffing incentives, apply to certain numbers of staff retained. Be sure to check all of the parameters and expectations attached to a grant which you intend to apply for at the time of application to ensure you understand exactly what is expected of your business in return for the grant.
How can you qualify for a grant?
If you are already an operating small Australian business, then it is most likely that you will already qualify for most of the common grant types such as mentoring programmes and soft skills training. If you have a specific area in which you wish to expand, such as innovation or researching new products, then there are very specific state and federal government grants designed for these areas. At a local level you are likely to find great grants offering businesses help build strong community ties.
Similarly, with staffing incentives, there are grant types available for all sizes of business operating in all kinds of industries supporting apprenticeship programmes and also for hiring people with a disability.