In this article, we covered some of the small business grants in Australia. Depending on the industry you are trying to start a business in Australia.
Some of the costs you would have to cover aside from the startup capital include registration fees, business premises, equipment and inventory, marketing and advertising, staff wages, and other expenses like legal, accounting, and insurance fees.
List of Small Business Grants in Australia
Without further ado, below are some of the small business grants in Australia. Links have been provided so you learn more about these grants.
Small Business Grant Program (NSW)
The Federal and State governments offer a number of support programs to help small business entrepreneurs.
The government may offer these support programs as grants, subsidies, rebates, incentives, and financial help.
The Digital Initiative program is one of the initiatives that aids companies in modernizing or enhancing their digital infrastructure.
With a program for digital transformation worth $20,000, this initiative aims to assist small enterprises. Successful applicants will be partnered with an experienced innovator who has successfully leveraged technology to enhance business growth.
Website: https://australiangrants.org/nsw-small-business-grants-for-digital-initiatives/
Business Support Fund (Victoria)
Business Victoria offers a variety of services and programs to assist Victorian businesses in starting, operating, and transforming their operations.
These include grants and programs to assist your business in coping with change, developing new products or services, enhancing sustainability, and enhancing the competitiveness of already existing products.
Website: https://business.vic.gov.au/grants-and-programs
Business Development Fund (Queensland)
The Business Development Fund (BDF) of Queensland has assisted more than 50 Queensland start-ups in transforming their concepts into profitable ventures, creating over 400 new employment and luring new industries to the state.
Website: https://www.treasury.qld.gov.au/programs-and-policies/business-development-fund/
Small Business Innovation Research (SBIR) Program
To promote technological innovation, meet Federal research and development (R&D) objectives, and boost commercialization to turn R&D into impact, the SBIR and STTR programs provide funding to a diversified portfolio of startups and small enterprises in a variety of technology fields and markets.
Website: https://www.sbir.gov/
Export Market Development Grants (EMDG)
Since 1974, EMDG has helped over 51,000 different small and medium-sized Australian enterprises (SME) advertise and promote their goods and services to more than 180 nations across the world. Most of those SMEs received several awards over the course of several years, lasting up to eight years.
Website: https://www.austrade.gov.au/en/how-we-can-help-you/grants/export-market-development-grants.html
Research and Development (R&D) Tax Incentive
Companies engaging in qualified R&D activities can receive a tax credit from the Research and Development Tax Incentive (R&DTI). It promotes R&D spending to support business expansion and innovation, which benefits the Australian economy.
The R&DTI not only offers financial assistance but also presents a chance for cooperation with authorized Research Service Providers (RSPs).
Website: https://business.gov.au/grants-and-programs/research-and-development-tax-incentive/overview-of-rd-tax-incentive
Commercialisation Australia
The AusIndustry Entrepreneurs’ Program’s Accelerating Commercialization service offers guidance and funding to help you get your innovative good, process, or service to market.
Website: https://business.gov.au/grants-and-programs/accelerating-commercialisation
Entrepreneurs’ Programme
The Entrepreneur’s Programme gives you access to professional counsel as well as financial assistance in the form of grants to advance your company objectives.
Website: https://business.gov.au/grants-and-programs/entrepreneurs-programme
| Business Expansion and Innovation Program (Victoria) | https://business.vic.gov.au/grants-and-programs/technology-adoption-and-innovation-program |
| Regional Jobs Fund (South Australia) | https://www.treasury.sa.gov.au/Growing-South-Australia/future-jobs-fund/future-jobs-fund-faqs |
| Regional Economic Development Grants (Tasmania) | https://www.rdatasmania.org.au/grants-and-documents/ |
| Queensland Small Business Entrepreneur Grants Program | https://www.business.qld.gov.au/starting-business/advice-support/grants/schedule |
| Business Events Grant Program (Australian Government) | https://business.gov.au/grants-and-programs/business-events-grants |
| New Business Assistance with NEIS (New Enterprise Incentive Scheme) | https://www.dewr.gov.au/new-business-assistance-neis |
| Business Growth Fund (WA) | https://abgf.com.au/ |
| Small Business Digital Grants (Queensland) | https://desbt.qld.gov.au/small-business/programs/grants |
| Business Boost Grants (South Australia) | https://business.sa.gov.au/programs/grant-programs |
| Business Development and Assistance Program (Northern Territory) | https://nt.gov.au/industry/business-grants-funding/business-growth-program |
FAQs
Is it easy to start a business in Australia as a foreigner?
In Australia, a non-resident can establish a business, however, they cannot do so on their own. In Australia, two of the minimum three directors of a public company must be Australian residents, and at least one director of any other type of corporation must be a resident of the country.
What are the different types of grants in Australia?
Grants typically fall into one of three categories: local/place-based, philanthropic, or government. Grants from the government can be broadly divided into public good grants and grants for business support.
What is the Australian Small Grants Program?
Australia’s aid budget supports a small grants program called the Direct Aid Program (DAP). It is adaptable enough to collaborate with local people in developing nations on initiatives that fight poverty and promote sustainable growth in line with Australia’s national interests.
Do they need LLC to start a business in Australia?
It is not possible to establish an LLC as a legal entity in Australia. A Proprietary Limited Company is the one that is most accessible.
This is the most common corporate structure in Australia, commonly abbreviated as PTY LTD. Private ownership is a feature of Australian proprietary businesses.
Can I immigrate to Australia if I buy a business?
There are distinct routes for moving to Australia to conduct business if you are a business owner or entrepreneur.
To qualify for the Business Innovation and Investment visa, you must first submit an application for a provisional visa with a minimum four-year validity period. Following that, you can apply for a permanent visa using subclass 888.
