Government Grants For Businesses | Matthews Steer
The federal and state governments make a wide range of government grants and financial assistance programs available to small and medium businesses located in Victoria, and Australia-wide.
Government grants for small businesses and medium businesses are designed to support the advancement of small and medium enterprises (SMEs), and assist business owners to start, grow and expand their operations, develop and launch new products and services, and enter new markets.
Contact Richard Wraith to discuss your business planning and funding requirements
Government grants are designed to support Australian businesses, and are not always restricted to a particular industry or sector. Some programs, like the AusIndustry Entrepreneurs Programme, are ongoing and eligible businesses can apply when an opportunity arises for business growth or innovation. Other programs, including those focussed on supporting the purchase of capital equipment to expand and advance the capacity and efficiency of growth-focussed manufacturers, are announced periodically.
These are just two examples of the types of programs, grants and assistance the government has made available to encourage growth of the startup, small and medium enterprises. You can find links to details of Victorian and Australian business grants at the bottom of this page.
Applying for grants
At Matthews Steer we see these growth grants as vital support for clients looking to take the next steps in their business journey, and a much-needed chance for busy business owners to source capital at a time when banks’ lending criteria is getting tougher.
Business grants mean our clients don’t have to rely solely on their sweat equity to get their businesses where they want them to go.
The key to successfully obtaining business grants is knowing when funding is going to be allocated and submitting a compelling application promptly.
At Matthews Steer, we have a dedicated, specialist government grants team available to help our clients to maximise their chances of receiving funding under a wide-range of government grant programs. Our team is resourced to manage government grant applications, reporting and assessment requirements throughout the application period.
The following government grant programs may be available to support your business
AusIndustry R&D Tax Incentive Program
The R&D Tax Incentive is a broad-based, market-driven program accessible to all industry sectors. It provides a targeted tax offset to encourage more companies to engage in research and development (R&D).
Available tax offsets based on annual turnover:
- Turnover < $20m - 43.5% refundable tax offset.
- Turnover > $20m - 38.5% non-refundable tax offset.
NB: Applicants must be Australian registered companies (not trusts) and must control the IP being developed.
Learn more about the AusIndustry R&D Tax Incentive Program
AusIndustry Industry Growth Program
The Industry Growth Program helps Australian entrepreneurs, researchers, inventors, start-ups, commercialisation offices, and small and medium enterprises address the challenges associated with commercialising novel intellectual property, where R&D has been completed but no commercial sales have occurred.
- Applicants can seek, on a 50:50 matched funding basis, between $50,000 to $250,000 for early-stage commercialisation projects and $100,000 to $5 million in grant funding for commercialization and growth projects.
Austrade Export Market Development Grant Program
The Export Market Development Grants (EMDG) scheme is the Australian Government's key financial assistance program for aspiring and current exporters. Administered by Austrade, the purpose of the scheme is to encourage SMEs to develop export markets.
- EMDG reimburses up to 50% of eligible export promotion expenses for up-to eight years in a three tier program depending the stage a company is in its export program.
Important updates to the EMDG program for 2024/25 - Round 4 onward
Opening dates for Round 4 EMDG applications:
- Tier 1,2 & 3: 10am (AEST) Tuesday 12th November 2024
- Representative Body: 10am (AEST) Wednesday 6th November 2024
Grants will be assessed and offered in the order they are received.
What does this mean?
- There will be a very high volume of Grant applications for Round 4 being submitted at the time of applications opening, increaseing the likelihood of the Austrade portal crashing during this time.
- Applications for each Tier will close on the portal as soon as the maximum allocated funding has been met.
Eligibility requirements have changed.
- Previous recipients may no longer qualify
We will work with you to ensure you meet eligibility criteria and have all necessary information and documents ready for your Round 4 application on time.
Contact our Innovation & Grants team today on 03 9325 6300 or info@matsteer.com.au so we can can help you access the funds you're eligible for.