A guide to applying for small business grants
We are currently experiencing a high volume of calls as a result of COVID-19, but we are here to help. If you are concerned about your Home Loan repayments, please go to the home loans support page. If you are a Business customer and need help, please go to the business relief page.
While you might have always thought you'd do it alone, there are a lot of successful small businesses that have used grants to grow their operations. Grants are a useful solution if you've identified an area of your business that needs extra capital to grow but you don't have the cash to fund it.
If this sounds like something your business could benefit from, it’s worth exploring the options. Keep in mind that it takes time to pull together a proper application and there's no guarantee you'll be successful. Our checklist can help guide you through the essential information you'll need.
Your first step to applying for a grant is finding one that's suitable for your business and objectives.
The Australian government is one source of small business grants and offers a number of options for those that meet the criteria. Check the government's business website and use the search tool to find what’s available to you based on:
Deadlines are dependent on the grant.
If you're looking to rapidly grow in an overseas market, you might want to consider the federal government's Landing Pads program.
To successfully apply, you'll need to demonstrate:
Applications run in three cohorts each year: check the key dates.
It might also be worth exploring private funding grant programs. These tend to be for specific sectors and often come with very specific criteria.
Once you find the right grant for your business, you can use the checklist below as a guide to assist you in your application.
Before you start applying, you should ask yourself these questions:
Once you've answered these questions, you should be able to make a decision whether or not to proceed with your application.
Every program has its own guidelines and judging criteria, but there are some general pieces of information you should have ready to go:
You'll need to show a thorough understanding of what your business will do with the grant before you apply. Get prepared early to ensure you can put your best foot forward.
This information does not take into account your personal circumstances and is general. It is an overview only and should not be considered a comprehensive statement on any matter or relied upon. Consider obtaining personalised advice from a professional financial adviser and your accountant before making any financial decisions in relation to the matters discussed in this article, including when considering tax and finance options for your business.