Is there help out there? Grants and Financial Assistance Advice

Business Advice & Assistance Starting a Business News

Grants and finance offerings seem to come and go depending on political favour, but remain a common theme as to topics that we are asked about here at the Polaris Business & Innovation Centre.  When grant funds come out for Small to Medium Enterprise (SME’s), you can be certain that there will be many businesses who never even heard about the opportunity. If you did hear about the opportunity, your business needs to be ready to apply quickly.  While there are currently very few SME grants open presently, there are some interesting business finance opportunities that are, which we will outline shortly.  In addition, we will outline the basic elements you can put together now to be a) ready for a grant fund when it does open and b) generally run your business well.

How to be grant ready?

There are several key ingredients to have at hand ready to go in case a grant opportunity opens up these are:

  • An up to date business plan (find a business plan template here)
  • Up to date cashflow and budget
  • An outline of what you might need grant money for, and any “outcomes” you could envisage coming from this spend.  Usually government grants are keen to know how many new people you might employ or how much of the grant will be spent within local businesses.
  • Grants often want to know what is “innovative” about your idea, so what makes it “pop” off the page and shine more than the next application.
  • Are you going to be using “new” technology?  Using Internet Of Things (IOT) technology, Artificial Intelligence (AI), Automation and robotics are usually great inclusions on a grant application, in partnership with the “new jobs” focus.

Business Finance Options

Various institutions have business finance options that can help your small business, that have been developed specifically for segments of the market.

Good Shepherd Financial Services- have been developed to ensure that people do not fall through the cracks.  Offering assistance around issues facing women, girls and families by providing crisis services, Good Shepherd also assist small business in crisis.

  • Small Business Recovery Program- developed for those businesses that have been impacted by Covid19

To find out more, click through to their website here

Indigenous Business Australia- have five financial products to assist Indigenous businesses to grow and develop. These options include:

  • Start Up Finance, designed to help new businesses get off the ground
  • Producer Offset Loan, designed to assist with production companies to work is Screen Australia
  • Business Loan Package, developed to assist with working capital requirement, purchasing existing businesses etc

To find out more, click through to their website here

Thrive Refugee Enterprise- Thrive is a not-for-profit offering business and financial support for refugees which can help them start and grow viable businesses.

  • Start up loans of up to $25,000 per 3 years can assist aspiring refugee entrepreneurs to get their feet off the ground and into the world of business.

To find out more, click through to their website here

For general grant information, click through here to access the City of Salisbury's Grant Hub

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