Government assistance for small businesses in NSW
The NSW state government offers assistance to small businesses in NSW including small business grants. They are available to all kinds of small businesses, in a range of industries, and at all levels of operation or development. Some small business grants are designed to help support entrepreneurs and start-up businesses navigate the sometimes tricky early stages of business development.
In addition, if you are looking for options to help expand your workforce through new skill development for staff, there’s a number of mentoring programmes available, plus free and low-cost advisory programmes – all designed as government grants for small business NSW.
We have compiled some information below about small business grants in NSW – including small business grants for women NSW and small business start-up grants NSW.
How do I qualify for a NSW small business grant?
As a small business operating or looking to open operations in NSW, you are already likely to qualify for most of the common grant types such as education programmes and skills training rebates and incentives. You may also qualify for grants designed to help you create new products or for innovating existing products and services.
At a more local NSW level you may also be able to find some great grants aimed at helping to build strong community ties between your business and your local customers. Don’t forget, if you want to ensure your small business remains relevant in a constantly evolving marketplace, there are two under-explored areas of small business support including programs designed for learning new skills and industry-specific training options.
State governments offer a range of grants accessible to particular industries such as the various trades and hospitality. There are also grants and other support programmes offered by the federal government, such as the Australian Apprenticeships Incentives Programme designed to support small businesses who are looking to offer opportunities for young people to secure skilled apprenticeships.
Most small business grants provide financial support, so they are targeted at helping you maximise benefit for your business. Depending upon which type of grant you intend to apply for, each comes with a list of expectations which your business is required to fulfil in order to maintain the funding (or you may have to pay back your grant amount).
Some business grants include a dollar for dollar matching. Which means whatever you put in is matched by the grant, to a maximum level. If you would like to maximise the grant amount, you could consider a small business loan to help boost your ability to invest in your own business.
Many grants come with parameters such as maintaining business performance levels or staff retention levels. Be sure to check all of the terms and expectations attached to a grant before you apply and ensure you understand exactly what is expected of your business in return for the grant.
The Department of Industry, Innovation and Science offers a thorough website where you can search for potential grants applicable to your state, needs and industry. There are additional options for operators working remote or rural areas too. Check out https://www.business.gov.au/ for more information.
Available grants will often have a link to apply directly online or downloadable applications you can fill in later.
At Prospa, we support small businesses in NSW. We have already invested over $1 billion into the Australian small business market, assisting thousands of businesses grow and develop with finance options tailored for them.