The Entrepreneurs’ Programme is designed to assist SMEs in growth sectors to improve their productivity by supporting business improvement. The programme has three elements, focusing on encouraging and supporting SMEs to develop their capabilities, extend their networks and exploit growth opportunities through the following:
- Business management;
- Research connections; and
- Accelerating Commercialisation.
The programme’s primary focus is providing businesses with access to the best advice and contacts so that they can solve the problems they face. Below, we unpack what is a business growth grant, who is eligible and how to apply.
Business Growth Grants
Business Growth Grants are available as part of the Entrepreneurs’ Programme. The grants assist businesses in making improvements, recommended through the delivery of Business Management Activities, and include:
- Business Evaluations – a preliminary evaluation by a business advisor followed by a range of services which have been customised to suit the business’ particular needs.
- Business Growth Services – a preliminary analysis by a business advisor followed by a range of services (including access to specialist advisers and facilitators and introductions to experts) that support the business, over an extended period, to achieve growth.
- Supply Chain Facilitation – a range of services to facilitate access to supply chain opportunities in growth sectors.
Business Growth Grants – small, co-funded grants to enable the business to engage contractors to assist it with implementing the improvements recommended through a Business Evaluation, Supply Chain Facilitation or a Business Growth Service.
Following a Business Management Activity, if you receive recommendations for improvement, you may be eligible to apply for a Business Growth Grant to help you with the cost of engaging a consultant in implementing the recommendations. Notably, a Business Growth Grant is not available for normal, everyday improvements to your business (such as costs related to website development or general legal advice).
If you receive a Business Growth Grant, you will be reimbursed up to 50% of the consultant’s costs which you engage (up to a maximum of $20,000 excluding GST).
Who is Eligible?
To be eligible to apply for a Business Growth Grant, you must meet all of the following criteria:
- Apply for a Business Growth Grant before the relevant deadline (which is generally within six months of receipt of the Business Management Activity services).
- you must be implementing recommendations received during Business Management Activities (and they must not be ordinary everyday business operations).
- Ability to fund the costs of engaging the consultant before receiving the Grant.
How to Apply
To apply for a Business Growth Grant, you must complete the online Business Growth Grant Application Form at business.gov.au.
- If your application is successful, you must enter into a Grant Agreement with the Department of Industry and Science, acting on behalf of the Commonwealth. An example of a Grant Agreement is available for your review on business.gov.au.
- Please note that you must not start or pay for the project, in part or full, until both parties sign a Grant Agreement.
There are many grants available from the Australian government to assist SMEs in reaching their full potential. Business Growth Grants are just one of many. If you require further information on Business Growth Grants or what other grants may be available to your business, ask our startup lawyers on 1300 544 755.