As we venture into 2024, Australian businesses continue to navigate economic landscapes marked by innovation and growth. Government grants offer vital support, aiding businesses in various industries to flourish and contribute to the country's economic vitality. At WebSteps, we delve into some of the noteworthy business grants available in Australia for the year, aiming to assist businesses in their pursuit of growth and development.
Best Small Business Grants Australia 2024
Backing Business in the Bush Fund: This Queensland-based grant helps businesses secure financial support in regional areas of the state.
Export Market Development Grants (EMDG): Administered by Austrade, the EMDG aims to help businesses expand into international markets by reimbursing eligible marketing expenses.
Research and Development (R&D) Tax Incentive: This scheme offers tax offsets and cash rebates for companies engaging in eligible research and development activities, fostering innovation across various industries.
Renewable Energy Innovation Fund: Designed to support innovative clean energy projects, this grant assists businesses in developing and commercializing new technologies in renewable energy and energy efficiency.
Digital Jobs for Manufacturing: The Digital Jobs for Manufacturing Program offers grants of up to $5000 to assist Victorian manufacturing businesses adapt to a digital operating environment.
Safework Small Business Rebate: Get up to $1,000 in NSW towards the cost of workplace health and safety items.
Regional Event Fund NSW: The Regional Event Fund identifies and supports events in regional NSW that have the potential to act as a ‘cornerstone’ or flagship tourism event for their area by attracting overnight visitation and delivering long-term benefits to the region.
Seed-Start: The Seed-Start program operates through the Government of South Australia’s Research and Innovation Fund (RIF) to provide financial support for early-stage, high-growth potential businesses.
Venue Improvement Grants SA: The Venue Improvement Grants feature 200 grants of $5,000 each to allow eligible South Australian venues to upgrade so they can cater for live music performances.
Please note that availability, eligibility criteria, and funding amounts for these grants can vary. It's essential to check with relevant government agencies, consult grant guidelines, and ensure eligibility before applying for any specific grant. Additionally, grant programs may change or new grants may become available, so staying updated with government announcements and resources is crucial for small businesses seeking financial support in Australia.
How to get a small business grant
Acquiring a small business grant in Australia involves a structured approach, starting with thorough research and an understanding of available grants. First, identify grants that align with your business's industry, objectives, and location. Review eligibility criteria, application guidelines, and deadlines for each grant program.
Prepare a comprehensive business plan detailing your project or business proposal, emphasizing its innovation, potential impact, and alignment with grant objectives. Ensure all required documentation is organised and accurate, including financial statements, project proposals, and business records. Craft a compelling grant proposal outlining how the funds will be utilized, highlighting the project's feasibility, benefits, and expected outcomes.
Apply before the deadline, ensuring compliance with all requirements. Persistence, attention to detail, and clear communication of your business's value proposition are key to increasing the chances of securing a small business grant in Australia. Additionally, seeking assistance from government agencies, business advisors, or grant-writing professionals can provide valuable guidance throughout the application process.
Where to find grants for your small business
Finding the right grant for your small business is half the battle. For a list of Australian Government led grants, have a look at Grant Connect, connecting small businesses with grants they can be eligible for: https://help.grants.gov.au/
Also make sure to have a look at your relevant state government grant websites for a full list of their current and ongoing grants, as well as local government shires that usually offer funding to businesses that improve the local area.
State Grant Websites
South Australia: https://business.sa.gov.au/programs/grant-programs
Western Australia: https://www.smallbusiness.wa.gov.au/finance/business-grants
Northern Territory: https://nt.gov.au/industry/business-support
Free Small Business Courses & Education
In Australia, numerous free courses and funding opportunities exist to support small businesses in various aspects of their operations and at every step of their entrepreneurial journey. Here are a list of a few of our favourite funded courses:
Starting Your Small Business Online Course
Business Victoria, in collaboration with Monarch Institute are offering this online course to help kick start your small business or boost your existing one. Read more about this free online course and get started on it here.
TafeNSW has a range of small business courses for a range of different businesses and owners. From women in business to hiring migrants and refugees, there are upskilling opportunities for many. Find out more here.
Small Business Bus
The Small Business Bus travels to locations across Victoria providing advice and support for small businesses in metro and regional areas. Learn more about it and find out when the small business bus is coming to your area.
Self-Employment Assistance Program
This program provides education support to people interested in starting their own business or who need help to refocus an existing small business. This is a federal program provided through many TAFEs across Australia. Find our more here.
In 2024, Australian businesses have access to a diverse array of grants and incentives aimed at fostering growth, innovation, and sustainability. These grants serve as catalysts for businesses to expand, innovate, and contribute to Australia's economic development. By exploring and leveraging these opportunities, businesses can propel themselves toward success while contributing positively to the nation's business landscape.