How do I obtain government grants for my small business?
how to find different grandts for small business or startups, and process to get those grants and terms to be followed to get them.
Hi Ananda, you will be surprised how many government grants are available (100's) at local, state and federal government levels that are currently being under-utilised. Also, corporates offers grants where they see your business contributing to yours (eg banks). In an election year, the federal government is making lots of cash available at all levels where it creates value in the community, creates jobs, assists charitable organisations. They can range from $5K (council level) to $2M (commercialisation grant). Austrade offers grants for certain industries to boost local manufacturing. Federal offer lots of clean-energy, green business grants. Grants can be very specific so it is very important you tailor your application to meet their purpose.
The government grant finder assists help get an idea at a government level but there are many more. A few seminars I have been to say partnering with another accredited business like a charity, community group with increase your chances in the approval process. The key is submitting a succinct, well written, value offering in your application. There are service providers out that that do a grant analysis for you to see what are more appropriate for your business. They can also proof your application before submitting. It should be noted that grants are not easy win handouts, they are actually quite selective and hold you accountable to their criteria. It is a business for the government for government bodies like Austrade to meet KPI's and provide the government with ROI. But they are great options to consider when starting up your business when cash funding is not always available or limiting your potential. I recommend including a few grant considerations in your business plan as a funding option (yes, you will need a business plan!, government grants will nee to see them).
Happy to point you in the right direction if needed. Good luck with your new business!
Sacha Kaluri ,
Co- Director and Founder at Australian Teenage Expo
Hi Ananda, You can also try the Philanthropic Society. They have a book and updates on their website each year on what grants not for profit organisations can apply for. Check them out as well. It can sometimes be a long process but when its successful its great.
Jacqui Pryor ,
Director at Mark My Words Trademark Services Pty Ltd
The Australian government actually has a very handy 'grant finder ' tool available. You can search based on your state (or search on national grants), industry and sort of assistance you are after to see what you might be eligible for and what you need to do.
Generally speaking there's not necessarily a financial grant simply for starting a business - but other resources may be available, such as one-on-one time with business mentors, advice from experts, seminars etc at lower costs than usual or for free.