Page 10 - Metroid Mag - November 2016_Neat2

10 METROID MAG

GOVERNMENT

GRANTS & ASSISTANCE

for Small Business

Is your business taking advantage of the assistance being offered by Federal and State Governments?
Following are some of the most common grants available:

Federal Grants

Industry Skills Fund Business Evaluation Business Growth Grants
Financial contribution towards staff training in Independent (non-government) and skilled Business Growth Grants are available to fund
view of taking advantage of growth opportuni- Business Advisers can come to your business any strategies outlined in a Business
ties. For 1-4 FTE employees, funding will cover at no charge to do a detailed Business Evaluation (see above). Funding will cover half
75% of training cost, 5-19 employees 66% and Evaluation and prepare a tailored Business thecost of the projects, up to a maximum of
20-199 employees 50%. Evaluation Action Plan. A typical evaluation is $20,000 ex GST.
Examples of training covered under this grant: 40-60 pages, so provides a very detailed anal- You need to apply for a Business Growth Grant
engineering courses, professional develop- ysis of your business and further insight into within 6 months of receiving a Business Eval-
ment, technical training, specialised or tailored your industry. uation.
training courses. You need to provide evidence Strategies outlined in the Business Evaluation This is great for advisory services such as
that any training you undergo will enable you to Action Plan can then be eligible to be funded by strategic consulting and improvement project
grow your business, and isn’t training that any a Business Growth Grant (see below). management/consulting.
well-run business should provide staff anyway. Even if you don’t decide to take advantage of Find out more info and/or apply at:
Accredited training is much more likely to be the Business Growth Grant, the Business Eval- www.business.gov.au/assistance/business-
approved than non-accredite. No limit to uation (completely free) is excellent value. growth-grants
number of applications. Find out more info and/or apply at:
Find out more info and/or apply at: www.business.gov.au/assistance/business-evaluation
www.business.gov.au/assistance/industry-skills-fund
Efic Small Business Export Loan
AustrAliA Government Assists small businesses seeking to grow
Research & Development through exporting with loans of $50,000-
$250,00, to cover up to 80% of your export
Tax Incentive contract or purchase order.
The R&D Tax Incentive provides a target tax To be eligible, you need to have an annual
offset to encourage more companies to engage turnover of $250,000 – $5 million per year,
in R&D. For R&D expenditure up to $100 million been established for at least 2 years and have
a year companies can claim a: exported within the last 12 months.
-45% refundable tax offset for companies if Find out more info and/or apply at:
they have an annual turnover of less than $20 www.efic.gov.au/business-solutions/small-to-
million.This tax offset is available to companies medium-sized-business/small-business-export-loan/
that are not controlled by income tax exempt
entities.
-a non-refundable 40% tax offset for all oth-
er eligible companies. Unused non-refundable
offset amounts may be able to be carried for-
ward to future income years.
Find out more info and/or apply at:
www.business.gov.au/assistance/rsearch-and-
development-tax-incentive