Bringing capital into your business gives you the funding to bring your strategic and growth plans to life. But finding that funding isn’t always smooth sailing.
One important way to boost your capital is to search for government grants and loans.
The Federal Government’s [grant finder tool] currently lists 597 different grants and programs for businesses. And each state will have its own grants and incentive programmes available.
Let’s look at some of the current opportunities that may be open to your business.
1. NSW Rural Assistance Authority natural disaster relief loan
If your NSW business has been affected by a declared natural disaster, you may be eligible for a low-interest loan of up to $130,000 through
the NSW Rural Assistance Authority.
These loans offer a two-year interest and repayment-free period and can be used for essential working capital or to repair and replace damaged assets. To qualify, you must have sustained direct damage, be located in a declared disaster area, and meet specific eligibility criteria.
2. Loans for Aboriginal and Torres Strait Islander-owned small businesses
If you’re an Aboriginal or Torres Strait Islander business owner, you may be eligible for a loan to support your business.
This loan can be used to fund working capital requirements, purchase of existing businesses, plant and equipment and other commercial assets.
3. Industry Growth Program
The Industry Growth Program provides advisory support and funding for startups and small and medium enterprises (SMEs). To qualify, you’ll need to be undertaking innovative commercialisation and/or growth projects that are within the priority areas of the Australian Government’s National Reconstruction Fund (NRF).
You’ll be connected with an Industry Growth Program Adviser to provide advisory support and, following this advice, you’ll be able to apply for:
- Grants of $50,000 to $250,000 to support early-stage commercialisation projects
- Grants of $100,000 to $5 million for commercialisation and growth projects.
These are just some of the available federal and state grants, loans and funded opportunities that may be available to you as an Australian small business.
Talk to our team about your strategic goals, funding requirements and how we can assist with any government funding.
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