Government funding for SMEs
The Federal Government has introduced a number of initiatives to help businesses in today's tough economic climate. One such initiative, tailored to small to medium size enterprises (SME), is the Enterprise Connect program.
The Enterprise Connect program is a $251m initiative aimed at providing SMEs with access to new ideas, knowledge and technologies to enable them to become more productive, innovative and competitive. Services offered by Enterprise Connect include:
- Business Reviews which are delivered by skilled and experienced Business Advisers and
- Tailored Advisory Services - matching funding to implement changes identified through the Business Review.
The Business Review is a comprehensive analysis of your organisation. This includes looking at its strengths and weaknesses, the strategic issues confronting your business, the potential areas for improvements and areas for growth. The analysis is carried out on site by an experienced business advisor over a three to four day period. Best of all, the review is free.
The Tailored Advisory Service enables businesses to engage one or more specialist consultants to implement changes indentified in the Business Review. The business will be reimbursed half the cost of engaging the consultant(s) up to a maximum value of $20,000.
To be eligible for the above programs, the business must:
- Possess an Australian Company Number (“A.C.N.”)
- If located in Melbourne, Sydney, Adelaide, Perth or Brisbane – have a turnover of between $2m and $100m in the current or two preceding financial years
- If in a regional centre outside the above cities - have a turnover between $1.5m and $100m in the current or two preceding financial years
- Be solvent
- Have filed Business Activity Statements for the last three consecutive years.
- Be a manufacturing and / or a manufacturing related service firm.
- Not have been provided with a similar government funded service over the previous three years.
Further details regarding the Enterprise Connect program can be found at www.enterpriseconnect.gov.au or contact the Enterprise Connect Hotline on 131 791.