It’s often overlooked by business owners but government grants for small business can be a great opportunity to increase cash flow and gain much needed support to grow your business.
The local, state and federal governments are currently offering various programs and grants to support businesses to continually improve and pursue growth.
If you have plans to invest in the development of your business in 2018 it is definitely worth looking at what government grants are available and whether you are eligible.
Here’s a list of some great government grants for small business that are currently on offer:
1) Entrepreneurs’ Program (Australian Businesses)
Co-funded grants of up to $20K
This is the Australian Government’s flagship initiative for business competitiveness and productivity. The program ensures businesses get the advice and support needed to improve their competitiveness, productivity and to seek growth opportunities. Support includes advice and co-funded grants to accelerate commercialisation, take advantage of growth opportunities and help you access the latest technology, research and innovations. MGI is working with a number of clients who have used this grant to fund our business advisory and growth services.
To be eligible you must turnover between $1.5 – $100 million (between $750,000 and $100 million for remote and northern Australian businesses) and operate in one or more growth sectors:
- advanced manufacturing;
- food and agribusiness;
- medical technology and pharmaceuticals;
- mining equipment, technology and services;
- oil, gas and energy;
- enabling technologies and services of the listed above
- or satisfy the criteria to be a tourism business located in northern Australia.
In addition your business must meet one of the following:
- be engaged in, or expanding your operations to be engaged in, interstate or overseas trade and commerce
- a foreign corporation formed within Australia
- a corporation for which trading or financial activities are a substantial or significant proportion of the corporation’s overall activities
- a corporation or body formed under commonwealth law.
2) Advance Queensland Accelerate Small Business Grants Program (Queensland businesses)
Matched funding of up to $10K
This is one of the government grants for small business that can demonstrate high growth and employment aspirations to engage a strategic adviser to work closely with them in their business. To be eligible you need to be a Queensland business that has been trading for 3 years, have a minimum turnover of $500,000, have a maximum headcount of 20 employees and be experiencing growth with a clearly defined growth opportunity. Learn more about the Small Business Grants Program.
3) Advance Queensland Business Development Fund
Funding between $125K and $2.5M
The government offers co-investment for Queensland businesses undertaking groundbreaking research, ideas, products or services to help make their ideas a reality. Find out more.
4) City of Gold Coast Programs (Gold Coast businesses)
Growth Accelerator Program
This program is specifically targeted at high growth businesses and will assist in identifying the critical steps needed to achieve the next growth phase – rapidly and sustainably. It equips businesses with the understanding of how to build a thriving business that is not reliant on one person and identify and overcome potential barriers for growth. MGI has delivered this program for the last three years. Learn more.
Lead for Business Growth
This session provides business owners with the leadership tools and knowledge to successfully lead their business towards continued growth. Learn more.
Market Identification Master Class
This master class will take you through a technical process to test and qualify your key target markets and the best channels to reach them. Learn more.
Emerging Exporters Program
This program helps local businesses to develop their export supply capabilities with the aim of developing export markets globally. Learn more.
Securing Council Supply Contracts
The City, as the second largest local government in Australia, undertakes substantial procurement. This session will provide you with information and updates on how to take advantage of local procurement opportunities. Learn more.
5) Brisbane City Council Grants (Brisbane organisations and NFPs)
The Brisbane City Council provides funding for not-for-profit community groups and creative industry initiatives. See an overview of what local government grants are available here.
MGI South Queensland have tax advisors and business consultants in Brisbane and on the Gold Coast who can help you navigate the various grants, determine which might be right for you to apply and assist you in the process.
If you are interested in applying for government grants for small business and would like to know more about what programme’s MGI clients have been successful with contact us today.