Whether your business is a start-up, a farm, a family business, or a large corporation, you may be able to take advantage of government grants designated for Australian businesses. These grants are non-repayable, so they won’t hamper future plans or cash flow. Let’s take a look at some of the categories of business grants available today.
Accelerating Commercialisation offers assistance to eligible entrepreneurs, researchers, inventors start-ups, Commercialisation Offices and small/medium enterprises access to Commercialisation Advisers with experience and connections to address the challenges associated with commercialising novel products, processes and services. Key details are:
Export Market Development Grant
The Export Market Development Grants (EMDG) scheme is a key Australian government financial assistance program of taxable grants for aspiring and current exporters who are the principals for the export business. Key details are:
Jobs Action Plan
The Jobs Action Plan is a key priority of the New South Wales (NSW) government. The plan provides New South Wales businesses with a payroll tax rebate when they employ new workers in new eligible employment. Key details are:
Small Business Grant
To complement the Jobs Action Plan incentive to hire new employees, the Small Business Grant is designed to encourage the nearly 650,000 small businesses in New South Wales that do not pay payroll tax to hire new employees and expand their business.
R&D Tax Incentive
Companies that conduct an eligible R&D activity can receive a cash rebate for costs incurred in the R&D process, including the utilisation of depreciable assets.
Now that you know there are many different grants and programs there for Australian businesses, how do you take advantage of them?
New grants become available regularly, so search the government’s Business website often. Also, speak with an Altus Business Adviser for specific, custom advice about what kinds of government grants will be most advantageous for your company.
In business, every small advantage can make a big difference in the long run. Be smart about using your resources wisely, and find out what kinds of grants, training programs, and other resources are available to you.