Starting and sustaining a small business requires a significant amount of financial resources. While some entrepreneurs are fortunate enough to self-fund their ventures, most need to rely on external sources of funding to get their businesses off the ground. In New South Wales (NSW), small business owners have access to several grants that can help them secure vital funding. In this article, we will discuss the top 5 grants for small businesses in NSW.
1. Boosting Business Innovation Program
The Boosting Business Innovation Program is a grant program offered by the NSW government that helps small businesses innovate and grow. The grant offers up to $10,000 to eligible businesses to fund innovation projects that will unlock new markets and create jobs. To be eligible for the grant, your business must have fewer than 20 employees, have an annual turnover of less than $1.5 million, and have been operating for at least one year.
2. Business Connect Program
The Business Connect Program is a NSW government initiative that offers small businesses access to free business advice and coaching services. The program is designed to help small business owners improve their business skills and make informed decisions. Business Connect advisors provide advice on a range of topics, including marketing, finance, and legal issues. The program also offers access to free online workshops and other resources.
3. Export Assistance Grant
If your small business is looking to expand its customer base and reach new markets overseas, the Export Assistance Grant can provide up to $10,000 to help fund your international marketing activities. The grant is designed to help small businesses build their export capabilities, increase their presence in overseas markets, and promote their products and services to new customers.
4. Skilling for Recovery Initiative
The Skilling for Recovery initiative offers small businesses a financial incentive to employ new apprentices and trainees. The program provides up to $7,000 per employee to help cover the costs of training and upskilling new employees. The initiative is part of the NSW government’s response to the COVID-19 pandemic and is designed to support businesses that have been impacted by the economic fallout from the pandemic.
5. Regional Tourism Bushfire Recovery Grant
If your small business is in the tourism sector and has been impacted by the recent bushfires in NSW, the Regional Tourism Bushfire Recovery Grant can provide up to $10,000 to help fund your recovery efforts. The grant is available to businesses in the tourism industry located in eligible bushfire-affected regions, and can be used to cover costs such as marketing, product development, and business planning.
In conclusion, small businesses in NSW have access to a range of grants that can help them secure funding, improve their business skills, and expand their reach. The grants discussed in this article offer a variety of benefits to small businesses, including funding for innovation projects, access to free business advice, and financial support for international expansion, training, and recovery efforts. Small business owners in NSW should explore the options available to them and take advantage of the support that is on offer.
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