The Business Growth Grant from the Australian Government’s Entrepreneurs’ Infrastructure Program (EIP) provides businesses with up to $20,000 reimbursement for implementation of business improvement projects.
How does it work?
The Business Growth Grant may reimburse your business for half the cost of working with a consultant to complete the business improvement project, up to $20,000.
In order to receive a grant, your company will have undergone an evaluation by a qualified adviser or facilitator through the Business Evaluation program under the EIP.
Following this evaluation you will be given a service report identifying area for you business improvements.
The grant will support consultancy costs (up to $20,000) associated with the implementation of one or more of these improvement recommendations.
What Business Improvement areas can it be used for?
Business Growth Grant funding can be used to engage a consultant/s to make improvements to your business that were recommended by your Adviser or Facilitator. Your Business Growth Grant project must address areas of expertise that demonstrate:
- the preferred consultant is bringing new areas of expertise to your business
- how the project will build the internal capability of your business
- the work involved is not part of the ordinary operations of your business
How Treadstone can help deliver business improvement projects
Treadstone is a Melbourne firm that specializes in Government grants and business development services. We work to gain a thorough understanding of your business from every aspect and leverage extensive industry experience to complete projects with tailored and practical solutions.
Treadstone can provide expert advice developing and delivering eligible improvement projects including these areas of focus:
- Strategic business planning for innovative businesses
- Marketing, branding, and communication review, planning and execution
- Exploring new markets and market intelligence
- Product and service development
- Mentoring/coaching for growth
Other areas of focus may be relevant for this grant that are not provided by Treadstone. See business.gov.au for more details.
Eligibility for Business Growth Grant
To be eligible for the business growth Grant you must first be assessed against the eligibility criteria for the Business Evaluation program under the EIP, or Supply Chain Facilitation, or Business Growth Serviceor an Enterprise Connect Business Review.
- Must be a business incorporated in Australia under the Corporations Act 2001, that is non tax-exempt and is registered for GST, with trading activities that:
- Form a sufficiently significant proportion of its overall activities as to merit it being described as a trading corporation; or
- Are a substantial, not merely peripheral, activity of the corporation.
- Must be a small to medium sized business operating in one of the following Sectors (see table below for more details):
- Advanced manufacturing
- Food and agribusiness
- Medical technologies and pharmaceuticals
- Mining equipment, technology, and services
- Oil, gas, and energy resources
- Enabling technologies and services of the sectors listed in a-e above
- Must have operated in Australia and filed Business Activity Statements showing ongoing trading for at least three consecutive years
- Must have an annual turnover or operating expenditure in the current, or one of the two previous, financial years within the following thresholds:
- Between $1.5 million and $100 million or;
- Between $750,000 and $100,000 million for applicants from Remote Australia
- Must be solvent
- Must not be named by the Affirmative Action Agency as an organization that has not complied with the Workplace Gender Equality Act 2012 (Cth). Companies on the current Workplace Gender Equality Agency list of non-compliant organizations are not eligible to apply
- Must not have previously received a Business Review under the Enterprise Connect Program in the last five years
- Then you must meet the following :
- Your business must have received one of the listed Service Reports in the last 6 months, or a Business Growth Plan within 2 years
- You must plan to implement one or more eligible recommendations identified in the service report
- You must be able to pay the full cost of engaging one or more consultants before being reimbursed without using in-kind contributions or other government grants or programs
Find out more about how to get your Business Growth Grant
For more information about how Treadstone can help support your business growth or productivity, call us now for a confidential discussion on 03 9008 5937 or email us through Contact Us.
Eligible Sectors for Business Evaluation and Business Growth Grant.
For the purposes of the Entrepreneurs’ Infrastructure Programme, a business will satisfy the sectoral eligibility criteria where it can demonstrate it:
- is operating in one of the five growth sectors or provides enabling technologies, inputs or services to one of the five growth sectors as defined below; or
- is committed to, and has the skills, capability, intellectual property or expertise to operate in, one or more of the five growth sectors in the future.
|Eligible Sectors||Description of Sector|
|1. Advanced Manufacturing||Businesses that adopt innovative technologies or business practices to improve or develop manufactured products, processes or services. This includes the adoption of improvements or innovations across any of a range of manufacturing steps, such as concept, research and development, design, production, logistics, marketing and after-sales services, in order to achieve high-value products, services or business outcomes, including improved responses to market demands.|
|2. Food and Agribusiness||Businesses that transform raw materials or ingredients into food or beverages, or supply integral services, technologies or inputs for food or beverage production.|
|3. Medical Technologies and Pharmaceuticals||Businesses that develop or produce therapeutic, medical or pharmaceutical products or technologies, including complementary medicines.This definition excludes businesses that are hospitals, medical and other health care services, residential care services, social assistance services and retailers of medical and pharmaceutical goods, except where they can demonstrate they also substantially undertake the above activities.|
|4. Mining Equipment, Technology and Services||Businesses in mineral exploration, extraction and mining supply chains.|
|5. Oil, Gas and Energy Resources||Businesses engaged in the exploration, development and extraction of energy and fuels from oil, gas, coal and uranium.|
|6. Enabling Technologies and Services||Outside of these key enabling technologies and sectors, this definition includes other businesses that enable or support one of the five Growth Sectors through a direct commercial relationship, but excludes routine business operational activities such as legal advice, financial accounting/bookkeeping services, catering and insurance.|