Australian Government Grants that Startups and SME should look into in 2019

Home/Government, Small Business/Australian Government Grants that Startups and SME should look into in 2019

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:

  1. Use your owns funds
  2. Secure a loan from a bank.
  3. Find investors – Family and Friends.
  4. 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.

  1. 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
  2. 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
  3. Accelerating Commercialisation
    Grants of up $1m for 50% of eligible project expenditure are available to assist in the commercialisation of novel products, processes and services for a maximum project period of two years. Approval is received in advance through a competitive 2 part application.
    business.gov.au/assistance/entrepreneurs-programme/accelerating-commercialisation
  4. CSIRO Kick-Start
    Matched funding of $10,000 to $50,000 is available for start-ups and SMEs to work collaboratively with the CSIRO on projects up to 1 year.
    csiro.au/en/Do-business/Solutions-for-SMEs/Our-Funding-programs/CSIRO-Kick-Start

Innovation Connections
This program encourages eligible SMEs to collaborate with publicly funded research organisations by providing relatively easy and accessible funding of up to $130,000. www.business.gov.au/assistance/entrepreneurs-programme/innovation-connections

By | 2019-08-15T16:02:53+10:00 August 15th, 2019|Government, Small Business|Comments Off on Australian Government Grants that Startups and SME should look into in 2019

About the Author: