We get asked from time to time, “What grants are available from the federal government for start-ups?”
There are not many grants or assistance available at present for start-up businesses. Most government programs require businesses to have been operating for some time and to have achieved minimum turnover levels before they become eligible for grants and assistance. However, there are some programs available for businesses with very little or no turnover if they meet the other eligibility requirements. These include:
1. Research and Development – the applicant must be a company and doesn’t require any turnover, if eligible R&D activities, costing in excess of $20,000, have been undertaken in the 12-month period.
2. Apprenticeship Grants – these are available for employers, irrespective of turnover. However, you will have to satisfy the apprenticeship authorities that you have the ability to pay the apprentice.
4. Australian Bureau of Statistics – this is free statistical data that, 7-8 years ago, used to cost $4,500 to obtain. It is now free for all types of businesses.
5. Commercialisation Australia – has four grants, all of which can be obtained by businesses with very low or no turnovers including:
6. Skills and Knowledge – which covers business plans, market research, intellectual property advice
7. Proof of Concept – which covers the work required from initial prototype to a final sellable product
8. Experienced Executives – which supplies funding for the employment of an executive by an applicant (skilled in running a business)
9. Early Stage Commercialisation – this is a large grant, of up to $2M on a 50% basis, which can be used to carry out advanced work relative to proving that the ‘product’ works. Pilot plant construction, extensive trials, etc, could be included.
10. Export Market Development Grant – available for businesses that are planning to export products to overseas countries, excluding New Zealand, North Korea and Iran. The applicant must spend in excess of $20,000 on export market expenditure in the year. However, in the first year of claim, the applicant can include the expenditure over a two-year period.
10. Industry Capability Network – is an organisation that has offices throughout Australia, whereby businesses can list their profile and then record in a database, which is made available to organisations, which are seeking specific skills, trades or staff. This is an assistance program which assists businesses contemplating exporting and provides knowledge on how to approach export activity. There is no minimum turnover required.
ESS BIZGrants assists accountants to identify grants for which an individual SME operator might be eligible. There are hundreds of grants – state and federal – that are available.
What Product clients are entitled to a 10% discount on a subscription to ESS BIZGrants. To obtain this discount, please quote “ESS3WHA” on the ESS BIZGrants’ Subscription Form available at www.essbizgrants.com.au.
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