When starting a new business, there are many challenges that need to be considered. While some of these challenges include effective planning and finding the right people to round out your staff, many of these challenges come from a place of funding. Hiring staff, buying ad space, and purchasing essential resources – all of these things add costs to starting your business. While it can be difficult to find funding for these needs, there are many programs and grants that will help you to start strong. Here you can find information on grants from both state and national governments to aid in business growth.
Small Business Entrepreneur Grants Program
This grants program is offered by the Queensland Government and assists new small businesses with accessing professional business coaching. This program offers $1000 – $5000 to reimburse small businesses for the cost of engaging a professional business consultant or coach. The Small Business Entrepreneur Grants Program aids businesses with planning their growth through the use of these coaching services. To apply for this grant, businesses must have been registered within the last 4 years, have fewer than 20 employees, and be based in Queensland. For all the information and a full list of eligibility criteria, follow this link to the Queensland Government's business website.
Deadly Deals is part of the Advance Queensland initiative and focuses on the support of Indigenous businesses and innovators. This program supports the creation of a product, process, or service by an Indigenous business. It also seeks to create jobs for Aboriginal and Torres Strait Islander people. Deadly Deals offers up to $100 000 in support for successful applicants. To be eligible for this support, applicants must be an Indigenous-owned business, be based in Queensland, and have no more than 50 employees. More information on Deadly deals can be found on the Advance Queensland website, with expressions-of-interest now open.
Business Growth Grants
Business Growth Grants is offered by the Australian Government to businesses who have recently engaged professional advisors and management services. Business Growth Grants provides up to 50% or $20 000 of eligible costs related to business advice and management services. Applicants must have a business plan from business advisors and must not have received any Business Growth Grants previously. To find out more, go to the Australian Government's business website.
Business Development Fund
Another of Advance Queensland's programs, the Business Development Fund is all about supporting innovative business ideas. This program focuses on innovative businesses in emerging industries. Businesses that are commercialising research or new and innovative ideas are encouraged to apply. These businesses can receive between $125 000 and $2.5 million in funding. The Business Development Fund works with private investors to provide seed, early-stage or follow-on investments, as well as mentorship to successful applicants. To see the full list of applicant requirements or information on becoming an investor in the program go to Advance Queensland's website.
Ignite Ideas Fund
The Ignite Ideas Fund is another program from the Advance Queensland initiative that focuses on businesses looking to launch innovative products or services. Applicants can receive up to $200 000. The fund is open to Queensland-based start-ups and small to medium businesses that are aiming to bring their innovative product, process, or service to the global market and further grow their business. The Ignite Ideas Fund is available in two different tiers; Tier 1 is open to all applicants and offers up to $100 000 in funding, and Tier 2 is open to those businesses who have completed a project funded by Tier one. Tier 2 offers up to $200 000 in funding. All of the information on the Ignite Ideas Fund and its different tiers is available on the Advance Queensland website.
There are many amazing programs out there, and these are just a few of what's on offer for small business and start-ups. If you are interested in finding out more about the grants mentioned here or are looking for more opportunities to grow your business, you can visit Advance Queensland or Australian Government Business.