Why is this important?

There are hundreds of Federal and State Government grants made available every year. These grants are awarded to businesses in all industries mainly to:

• create jobs
• stimulate the local economy or a specific market sector
• advance research and development
• subsidise capital investment or
• encourage export activity

Government grants can be extremely beneficial to your business, allowing you to undertake and complete projects that wouldn't be feasible without funding, it is worth looking to see if your business fulfils the requirements to apply for one.

ACCC warning regarding websites offering access to government grants

The Australian Competition and Consumer Commission (ACCC) is warning small business operators to beware of unauthorised websites which claim to provide easy access to government grants. Despite appearances, many organisations are not providing any real assistance to small businesses. Many charge a fee to access government grants which can normally be accessed for free. In other cases, the small business may pay the fee only to find they are not eligible for a particular grant.

The ACCC is also concerned that some overseas-based websites falsely give the impression that they are endorsed by the Australian Government. Official sounding names and web addresses are often used to draw unsuspecting people to questionable websites. 

To protect your business, make sure you keep these points in mind:

• The government doesn't cold call you to tell you about grants.
• The government doesn't accept payment via wire transfer.
• All Australian Government websites use the '.gov.au' extension.
• All decisions about grants are based on merit — you can't pay for special access.
• Where you may wish to use the services of a third party to assist in preparing grant applications, choose a reputable service by doing your homework first.
• If you have signed up to a questionable service and have paid by credit card discuss your recovery options with your financial provider.

Official information about grants is freely available to the public in a readily searchable form at the following link or via http://www.business.gov.au/. 

What to do

What the Government looks for

There are several types of funding available - and it's important to review all the options. However, a form of federal funding called 'Commercial Ready' is often the most relevant type of grant for a business seeking support for the introduction of new products, projects or services. In addition, the government is now introducing a Commercial Ready 'Plus' program, which will make it easier for small businesses to access government funding.

Wading through the various state and federal government grants available to business can be a challenge but there are steps your business can take to determine if a particular government grant suits your organisation.

Suitability of a government grant

It is however, essential to investigate any potential 'downsides' you might encounter should your business receive government funding. These can include the cost of preparing the application and ongoing reporting requirements, greater tax liabilities, and reduction in certain business concessions.

Examine Grant Guidelines. Look closely at the specific rules and regulations outlined for the grant under consideration, to determine if your business is eligible to apply.

Call a Meeting. It's highly recommended you meet with a representative from the relevant government department to see if they foresee any initial problems or obstacles that would prevent a successful application. 

Prepare the Application. Invest the proper time and resources needed to prepare your grant application. To speed up the process and ensure accuracy, seek the advice of your business advisor or accountant to prepare and review all or part of the application.

Provide Additional Information. In most cases the government will make a request for additional information after your application has been received. Respond promptly, with accurate details.

Enter into Funding Agreement. If your business wins a grant, a legally-binding government contract may be required before funds will be distributed. The contract will include information about the grant amount, timing and terms of funding. Again, it's important to consult with your business advisors and lawyers to complete the contract.

Receive Funding. If your business is awarded a large grant, instalment payments may be made. The government will choose to disburse each instalment after your business reaches certain milestones outlined in your funding agreement.

Manage Reporting. The government will require ongoing reports from your business (sometimes even years after the last instalment has been received!) so be prepared to invest the time to complete these documents.

Where to go for help

Do it yourself

Australian government websites

www.ausindustry.gov.au, www.grantslink.gov.au and www.business.gov.au have comprehensive lists of grants and also search tools that will help you determine if your business fulfils the criteria to apply for such grants.

Culture and recreation

If your business falls in to the category of culture and recreation – for example art, music, gardens, performing arts design, new media information on grants can be found at: www.cultureandrecreation.gov.au.

Austrade

If you would like to export www.austrade.com.au will help you find not only grants that are available  but link you with the resources and advice necessary to choose an appropriate export market, write a marketing plan, get coaching in your industry  and on the ground support.

Enterprise Connect

www.enterpriseconnect.gov.au does not directly offer grants but links Australian enterprises with a national network of services and support in order to help them become more innovative, efficient and competitive with expert, practical advice and support tailored to their individual firms.

For more help: if you would like to talk to someone directly, contact your local AusIndustry office. Look up your local office at: www.ausindustry.gov.au/Pages/AusIndustryOffice.aspx

Professional advice on accessing R&D grants, export grants  and the R&D tax Concession/Credit system 

Ph: 02 9797 1777  Email: aiserv@bigpond.net.au Website: www.australianindustryservices.com.au

NSW State funding  

www.industry.nsw.gov.au

Online Business Directory

NSW Business Chamber Online Business Directory connects you to thousands of businesses across NSW. With exclusive access to special offers and great deals, you will find a service provider, business partner or supplier who can meet your needs. Listing on the Online Business Directory  is open exclusively to NSW Business Chamber members.

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