By Tony Monisse
Government grants can provide a business with the financial support it needs to innovate and grow, create jobs and access new markets. Currently, the Business.gov.au Grants and Programs finder page lists 558 government grants, funding and support programs across Australia for businesses. With so many funding programs available, it pays to know what is on offer and what your business may be eligible for.
Below, we have summarised the most broadly accessible grants for WA businesses. You can find more on other grants, funding and support programs across other states and territories on the Business.gov.au Grants and Programs finder page.
The Western Australian Government lists a range of business grants on its Small Business Development Corporation website.
During 2022, the WA Premier announced millions in new support packages and funding to provide financial assistance to small and medium-sized businesses in numerous industries, including the international education, tourism, aviation and event suppliers industries, primary industries and agriculture, and manufacturing and mining services. There are also grants available for businesses impacted by COVID-19, grants to assist with exporting and importing and grants to help with innovation and R&D.
Accelerating Commercialisation is a service under the AusIndustry Entrepreneurs’ Programme that provides small-medium businesses with expert advice and up to $1 million of funding to get a novel product, process or service to market.
Growth services is a collection of services under the AusIndustry Entrepreneurs’ Programme that provide businesses with advice and funding to grow and become more competitive in global markets, including grants up to $20,000. For more information, refer to https://business.gov.au/grants-and-programs/growth-services.
The Research and Development Tax Incentive (R&DTI) offers a tax offset for companies conducting eligible R&D activities. It encourages investment in R&D to help companies grow and innovate, generating benefits for the Australian economy.
The Digital Solutions program works with small businesses with fewer than 20 full-time (or equivalent) employees to adopt digital tools to save time and money and to help grow the business.
Innovate to Grow is a free 10-week program for small to medium enterprises (SMEs) who want to progress their research and development opportunities or are in the early decision-making stages about engaging in research and development.
Wage subsidies incentivise employers to hire and retain eligible participants in ongoing and sustainable positions. Businesses may receive up to $10,000 when hiring eligible individuals into ongoing jobs.
If you want to know more about grants available for your business, please do not hesitate to contact us. We can assist and if required, connect you with the appropriate grants specialist to help with your applications and guide you through the process.