As any business owner knows, you’ve got to spend money to make money – something which is a hell of a lot easier said than done! But what if we told you that a Business Growth Grant will match your marketing investment?
The Government has introduced the Entrepreneurs’ Programme, which allows small and medium businesses to receive funding for expert support from industry professionals. Eligible businesses can earn up to $20,000 (dollar for dollar spend) on growth initiatives, like marketing and website development. That means you can essentially double your budget!
In this post, we’ll guide you through the Entrepreneurs Programme, its grants, impact and eligibility criteria.
So if you want to put more $$$ towards growing your business, read on to find out more!
What Is the Entrepreneurs Programme?
The Entrepreneurs’ Programme is a Federal Government initiative to help small businesses in eligible industries to grow – music to any SMB’s ears!
The $400 million initiative provides funding and advice to small and medium-sized enterprises (SMEs) to help them:
- Improve business practices and productivity
- Become more competitive
- Attract investors
- Commercialise products or services
- Work with R&D to innovate and solve problems in the industry
- Improve capability to participate in domestic and global supply chains
Once accepted into the program, business owners work with independent advisers to develop a plan to achieve business goals in one of four areas:
- Business evaluation
- Growth services
- Supply chain facilitation
- Tourism partnerships (in Northern Australia only)
Business Growth Grants & Redback Solutions
Falling under growth services, we’ve been working alongside Entrepreneurs Programme consultants to deliver amazing results for a number of clients that successfully applied to the grants scheme.
Thanks to the Business Growth Grant, a number of our clients doubled their budget, so they could get the custom-designed website of their dreams and savvy digital marketing to grow their online presence, increase brand awareness and leads.
On completion of the web/marketing project, businesses are reimbursed for up to half the cost or a maximum of $20,000 (exc. GST).
Case Study: A Business Growth Grant In Action
CT4 is an Australian start-up, founded in 2009 to deliver cloud services, software development and data analytics.
They successfully applied for the Business Growth Grant and worked with a business adviser to launch a unique marketing strategy for their products and services. This adviser recommended a collaboration program with Microsoft.
Within the first 12 months of the collaboration, CT4 achieved a 20-30% increase in profits and now maintain a global presence managing cloud infrastructure services and projects across Australasia, Europe, Asia Pacific and North America.
Are You Eligible for a Business Grant?
Okay, so we’ve peaked your interest! But now for the not-so-fun stuff: unfortunately, not all small businesses can access this grant. Rather, you’ll need to meet certain criteria to fit the bill.
To be eligible for the business growth grant, your business must:
- Have an annual turnover between $1.5M and $100M
- In Northern Australia, $750K and $100M
- Have traded in Australia for at least three years
- Possess an Australian Company Number
- Be financially solvent
- Operate within a relevant growth sector (see details below)
If you’re also applying for a business evaluation, you must also fulfil one of the following:
- Be engaged in or expanding operations to conduct interstate or overseas trade
- A foreign corporation formed within Australia
- A corporation which trading or financial activities are a significant proportion of the corporation’s overall activities
- A corporation or body formed under Commonwealth law
Eligible growth sectors include:
- Advanced Manufacturing
- Food and Agribusiness
- Medical Technology and Pharmaceuticals
- Mining Equipment, Technology and Services
- Oil, Gas and Energy
Manufacturing industries can also include businesses that:
Adopt innovative technologies or business practices to improve or develop manufactured products, processes or services
Supply integral services, technologies or inputs to the manufacturing process of such businesses
The grant also applies to enabling technologies and services of the sectors listed above, including but not limited to:
- Freight and logistics
- Information and communication technology
- Professional services
Want more information? Check out the eligibility criteria here.
Boost your marketing budget with a Business Growth Grant today!
If your business is in one of the eligible industries, why not see if you can access the grant? Not only is it totally free to get started, but you could also end up doubling your marketing budget!
We’ve helped heaps of Aussie businesses just like yours do more with their digital marketing thanks to Business Growth Grant. Once accepted, we’ll work with you to develop strategies to grow your business, whether that’s a new and improved website or digital ads to attract more leads.
Keen to learn more? Give us a call and we can put you in touch with the appropriate Entrepreneurs Programme consultant for your business sector!