A summary of key Government Grants for small businesses from small business accountant Sydney Part 2
Last week we looked at a few government grants which may be of use to you depending on the industry your business is in. Here is a summary of a few more grants which we, the business accounting in Sydney, believe are among the more useful ones out there.
- Export Market Development Grants: This key federal government assistance program looks to benefit exporters of applicable goods. This grant is administered by Austrade, and has shown clear results in improving inbound tourism and exporting of not only goods but also intellectual property and expertise. How this works is that small businesses can be reimbursed for up to half of their applicable advertising expenses above $5,000 if their total expenses exceed $15,000 and can even apply up to eight times.
- Automotive Diversification Programme: This grant is available to businesses who are part of the automotive supply chain. This grant is directed at assisting those businesses who will be affected by the 2017 closure of the car manufacturing industry. The grant values here are available between $50,000 and up to $1 million.
- Entrepreneurs’ Programme: This programme was brought into existence to initiate business competitiveness and productivity and will give out $480 million over a five year period. Businesses in three sectors are provided support with this grant, these being business management (grants given for reimbursement of up to half the cost of external consultants engaged for business improvement), acceleration of commercialisation (funding matched to support commercial activities) and research connectivity (funding matched up to $50,000 for conducting research activities).
If your business falls under any of the sectors detailed above and is eligible for the grants in today’s and last week’s discussion, it may be a good idea to research further and contact your small business accountant in Sydney to see how much benefit your business can reap from these.