Here are some Frequently Asked Questions and answers that will help you on your search to find a Government Grant:
What benefits do R&D tax consultants provide?
Answer – see R&D Tax consultants page
I am thinking of starting up a small business. Are there any Government Grants that I can apply for?
Yes, there are. The most common grant for people who are new to running a business is the NEIS program run by the Federal Government. This provides new starters with a fall back payment and some essential training. There are also many great resources to read at http://www.business.gov.au to help guide you through the startup process and most state governments will also have a small business site. At a more local level there are local council grants available – refer to your local council web site.
In 2014, a new Entrepreneurs Infrastructure Programme with $484m in funding kicked off to offers assistance to Australia’s talented researchers, entrepreneurs and innovative firms to convert innovative ideas into commercial ventures.
I have a great product but what else can I do if there aren't any Government Grants to help me start up my businesses?
There wouldn’t be many businesses if no-one was prepared to go forward without grant assistance. There are a number of basic approaches that product or IP owners need to decide when moving forward. You can do it all yourself, you can license your IP to someone or you can do some and outsource as much as possible. Your choice needs to suit your personal goals and abilities. If you are going to build your business and not license your IP and need money to get started, then you have the choices of using your own cash, investment from friends, family or fools (FFF), take pre-orders, bank or debt finance and finally professional investors. In any one of these situations a business plan is essential.
Can I apply for more than one Government Grant?
Yes, but read the fine print. Some grants are sequential, meaning that you can get the funding for Entrepreneurs Infrastructure Programme and still be eligible for EMDG and R&D Tax rebates. Some are mutually exclusive. The general rule is no double dipping.
Does Treadstone work with community grants?
No. Community grants and fund raising for charities are not our areas of expertise. However many not-for-profit businesses or organisations are still eligible for business grants. There are some good sized grants for associations, organisations and collaborative groups.
What Government Grants are there for businesses that have already started up and need a little extra help?
There are a number of grants that help businesses on their way to the next level, but in most situations the government only “backs a winner”. That is to say if you are not making a profit and have not demonstrated a solid track record then you are unlikely to receive additional funding. The general approach is for Government to provide funding to third party consultants and services to help you grow your business. Depending on your revenue size Entrepreneurs Infrastructure Programme and the Victorian State Government’s Grow Your Business are two good examples of programs available that may assist.
If I get a Government Grant do I need to pay it back?
Not unless you breach the contract conditions. For example, some grants stipulate that if you sell your intellectual property in a certain time period after receiving the grant funds then you may have to pay it back. Treadstone can help you navigate through the conditions associated with various grants.
Are there any Green Grants?
Green projects within existing businesses can also be subsidised by grants. The Clean Technology Investment Program closed in late 2013 however some individual state funding programs exists supporting energy saving and green projects.