Adequate capital is essential to support business growth, investment and long-term sustainability. While traditional funding options remain important, government grants and loans can provide valuable additional support.
The Federal Government’s grant finder tool currently lists hundreds of grants, loans and assistance programs, with further incentives available through state governments.
Below is a snapshot of four government funding options currently available to Australian businesses.
Industry Growth Program: This program supports startups and SMEs undertaking innovative projects focused on commercialisation and growth within the National Reconstruction Fund (NRF) priority sectors. Participating businesses receive tailored advisory support and may apply for: $50,000 to $250,000 for early-stage commercialisation projects, $100,000 to $5 million for larger commercialisation and growth initiatives.
Natural disaster relief loans (NSW): Businesses located in NSW that have been directly affected by a declared natural disaster may qualify for a concessional loan of up to $130,000.
The loan includes a two-year interest-free and repayment-free period and may be applied to essential operating expenses or asset repairs and replacements, subject to eligibility requirements.
Employment wage subsidies: Wage subsidy programs are designed to reduce the cost of hiring and encourage the creation of sustainable employment.
Eligible employers with an ABN may be entitled to receive up to $10,000 per eligible employee, depending on the program and circumstances.
Business loans for Aboriginal and Torres Strait Islander enterprises: Eligible Aboriginal and Torres Strait Islander-owned businesses can access loans to support establishment, growth or operational requirements. Loan funds may be used for working capital, acquisition of businesses, or investment in plant, equipment and other business assets.
Government funding programs can be complex and highly specific. Our team can assist you in assessing eligibility, aligning funding with your strategic goals, and navigating the application process effectively.
