Australian Government Grants that Startups and SME should look into in 2019
Startups succeed or fail based on the cash they can access.
So where can you get cash to give the business the best chance of success?
There are 4 options:
Use your owns funds
Secure a loan from a bank.
Find investors – Family and Friends.
Access government grants
Every year there are over $50b in grants available to assist businesses.
Here’s a list of top government grants for startups and businesses in Australia.
R&D Tax Incentive Companies can receive a refund of 43.5% as a tax free payment for developing novel technology. It is ideal for startups and SME that have losses.If the company spends $100,000 of eligible R&D activities for an eligible project the government will refund $43,500. It’s a self-assessment scheme so it is important to ensure you meet all the requirements. This program requires the appointment of a grants specialist – not an accountant. business.gov.au/assistance/research-and-development-tax-incentive
Export Market Development Grant Reimbursement of up to $150k for export marketing costs calculated on 50% spend. The business must be the principle in the transaction and promoting Australian products or services. The first claim can include eligible expenses for the last 2 financial years with no export sales required. Great for startups with a focus on overseas markets, appointing overseas distributors or selling to tourists. business.gov.au/assistance/export-market-development-grants-emdg