Have you taken the opportunities offered by key grants for small – medium businesses? Or are you, like many business owners, unaware of the grants aimed at helping businesses like yours grow? Or are you reluctant to apply because you expect a lengthy application process? Maybe you fear the risk of rejection?
Entrepreneurs Around The World Envy Us
We often hear from business owners that the government “does nothing for them”.
Sure enough, we increasingly see governments and their bureaucracies ‘meddle’ in the running of businesses. Yes, this results in increased compliance costs, otherwise known as “red tape”. Yet, this may surprise you, but many entrepreneurs around the world envy the support offered to Small to Medium Enterprises (SMEs) across Australia.
When I began advising SME owners, the knowledge of government grants for small – medium businesses became an essential component of my advisory toolbox. In one instance, I was able to organise a successful research and development grant of over nearly $200,000. The business owner said it ‘saved’ his business. Since then, several of my clients have obtained various government grants. These partially funded the advisory services that supported the development of business strategies for growth.
5 Grants for Small – Medium Businesses, 5 chances To Grow Faster
Both Federal and State Governments provide grants for SMEs, specifically targeting businesses that export, are manufacturers, undertake research and development, are technologically innovative, involved in agribusiness, energy and resources, logistics and medical technologies.
If you fit one of those labels, you may be an good candidate for one of these grants:
- Research and Development grants and tax incentives
- Accelerated Commercialisation Grants (AusIndustry)
- Entrepreneur’s Program (Fed, AusIndustry)
- Grow Your Own Business (Business Victoria)
- Export Market Development Grant (EMDG)
Grants for Small – Medium Businesses Meet Diverse Needs
R&D grants, credits and incentives work well for areas such as the digital economy, energy efficiency, environment, globalisation, innovation, sustainability and training.
The Federal Government’s Entrepreneurs’ Program provides SMEs with grants to help them increase productivity and competitiveness. Through funding and access to advisers and facilitators, business owners can address knowledge gaps and accelerate growth. Or they can obtain Accelerated Commercialisation Grants up to 50% of project’s expenditure capped at $1 million.
The Export Market Development Grants (EMDG) scheme is a key Australian Government financial assistance program for aspiring and current exporters. Austrade administers this scheme in support of a wide range of industries.
In Victoria, the government runs “Grow Your Own Business”. This program is specifically for SME business owners who wish to improve and grow their business. As such, it contributes to the cost of mentoring and networking programs up to 75% of the projects cost (capped at $15,000). Of course, if you live outside of Victoria, you’ll find similar programs.
Optimise This Financial Year
I wish I had known about these grants for small – medium businesses when I was running my previous business. Wouldn’t you like to know what is available and right for your business? And wouldn’t you like to optimise your grant application and then enjoy its benefits for your business? Well, this is where a professional business advisor can assist you.
Why don’t you talk to a professional from The NCP? Discover if your business is eligible for a government grant that could help you grow your business.