Did You Know About Government Grants and Business Support For Small Businesses?

By Leo Rodino posted on June 07, 2017

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Government Grants and Business Support

The Queensland, Australian and local governments offer funding programs, often in the form of grants, and business support services to help new and established businesses grow and succeed.

This support can be in the form of:

  • Grants
  • Rebates
  • Subsidies
  • Incentive schemes
  • Research fellowships.

Government grants can help you develop your business through activities such as expansion, commercialisation, research and development, innovation and exporting.

This economic support is backed up by:

  • Advisory and mentoring services
  • Workshops and seminars
  • General and industry-specific training
  • Networking opportunities
  • Subsidised products, such as business planning tools.

You can find Australian, state and territory government grants using the Australian Government Grants and assistance tool.

Limitations of Grants

Grants are a useful source of funding, but they have very specific application requirements and usually relate to a particular industry sector or community to stimulate economic growth, or certain stages of the business cycle, such as developing a product or installing new systems to promote efficiency.

All grants have limitations. Some are limited by a fixed amount of funds allocated to the initiative, some are limited by time, others are limited by business objectives, while others have limits on the size of eligible businesses.

Applying for grants can be a complex and time-consuming process – thorough research is essential to make sure your business is eligible.

Other Sources of Business Funding

If you can’t find a suitable funding program for your business, other sources of finance may be available (e.g. debt finance or equity finance).

At MoneyQuest Teneriffe we are full service finance and mortgage brokers, providing business finance, franchise lending, commercial and residential property mortgage loans, SMSF loans, and car and equipment finance.

Call us on 0417 551 445 for a no obligation appointment to discuss your specific requirements.

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Disclaimer:

This article is written to provide a summary and general overview of the subject matter covered for your information only. Every effort has been made to ensure the information in the article is current, accurate and reliable. This article has been prepared without taking into account your objectives, personal circumstances, financial situation or needs. You should consider whether it is appropriate for your circumstances. You should seek your own independent legal, financial and taxation advice before acting or relying on any of the content contained in the articles and review any relevant Product Disclosure Statement (PDS), Terms and Conditions (T&C) or Financial Services Guide (FSG).

Please consult your financial advisor, solicitor or accountant before acting on information contained in this publication.

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