THERE ARE MANY TYPES OF BUSINESSES THAT CAN APPLY FOR A BUSINESS GROWTH GRANT
The Federal government has commenced operations of the free Business Evaluation Program and is seeking applications for the Business Growth Grant from businesses operating in 11 different industry groups. When you evaluate these business industry groups, you will find that there are a large number of individual business types that can be eligible for the grants.
We start a series this month, identifying the types of businesses that are eligible to apply for the various industry grants, subject to meeting the minimum and maximum turnover requirements and the corporate structure requirements. This series will continue over the next two months.
Manufacturing Industry
Manufacturing is any activity, which is classified under Division C “Manufacturing” of the Australian and New Zealand Standard Industrial Classification (ANZSIC), is a manufacturing business.
Manufacturing Related Services
A manufacturing related service provider delivers a service to a manufacturing business, which contributes to the transformation of manufactured products (including their reprocessing, re-use or recycling). To be a manufacturing related service business, a business does not need to exclusively provide the manufacturing related services. Examples of some businesses which are considered to be manufacturing related services include:
- Research and Development Services
- Product Designs Services
- Waste, Treatment and Disposal Services
- Engineering, Design and Engineering Consultancy Services
- Scientific Testing and Analysis Services
- Computer System Design and Related Services
- Packaging Services
- Technical and Vocational Education and Training
- Electronic (except domestic appliances) Precision Equipment Repair and Maintenance
- Machinery Equipment Repair and Maintenance
The business must be a company or a corporate trustee acting as trustee for a trust, with a minimum turnover of $1.5million and a maximum turnover of $100million.
Tourism Sector
A business is considered to be in the tourism sector, subject to meeting the minimum turnover, the maximum turnover and the entity requirements, if it derives a significant (greater than 50%) portion of its turnover from:
- tourism accommodation;
- tourist attractions;
- local food and beverage tasting experiences;
- the operation of tours; and
- the operation of travel agency services.
The business must derive a significant portion of its revenue from tourists (people who have travelled for a round trip distance of at least 50km from home) and would either cease to exist in its present form or would be significantly affected if tourism were to cease.
Businesses must have been in operation for three years, with a minimum turnover of $1million, a maximum turnover of $100million and be operating by a company or a corporate trustee acting on behalf of a trust.
Professional Services
Businesses that provide defined professional services may be eligible for a Business Growth Grant, including:
- Scientific Research
- Architecture
- Engineering and Technical Services
- Advertising Services
- Professional Photography Services
- Interpretation Services
- Meteorological Services
- Non-Financial Asset Broking Services
- Translation Services
- Weather Station Operation
The business must have a minimum turnover of $1.5million and a maximum turnover of $100million. The business must be operating as a company or an incorporated trustee of a trust.
An easy way to locate government grants is by using ESS BIZGRANTS. If you’re interested in understanding how you can provide your clients with additional services and potentially earn additional revenue for your accountancy business, visit www.essbizgrants.com.au and avail yourselves of the FREE two-week (two entity trial )using ESS BIZGRANTS.
Click here for ESS BIZGrants contact details.
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