Aussie SMEs leaving billions of dollars in grants on the table

Far too many Australian businesses overlook opportunities associated with government grant funding, with only 35% of businesses accessing the huge pool of available funds released every year by local state and federal governments.

For example, there are currently 7609 grants worth $89.1bn on offer and more specifically for the food and beverage industry there are 79 grants worth $15.3bn.

In order to help the food and beverage sector grow, innovate and boost skills, not only in Australia but overseas, there is a mix of programs, small business grants, and federal and state government business grants.

The billion-dollar food and beverage sector includes small, medium and large businesses, including corporates and startups involved in food processing, packaging and distribution. Grants in this sector include, for example, loans, tax incentives and wage subsidies to restaurants, pubs, food manufacturing operations, catering businesses and food transportation services. Funding can support myriad directions around innovation and research and development in areas such as food manufacturing, packaging and distribution that will promote efficiency and modernisation in the sector.

Grants can include funding for specific projects that grow new or existing export markets for food brands or accelerate existing businesses including startups. Grants can range from thousands to millions of dollars, and eligibility can depend on business turnover, type of business and project.

The below prospects are certainly worth having on your radar as preparing a grant strategy that aligns with your business and marketing plan is key to success.

• Advanced Manufacturing Ecosystem (AME) Fund: Pool $7.5m (Northern Territory)
• AgriFutures Australia – Agritech Event Sponsorship Program: Pool $1.5m (National)
• AgriFutures Australia – Catalyst Program (National + NZ)
• ATSE – ICM Agrifood Award: Max $5000 (National)
• Breakthrough Victoria Fund: Max $30m (Victoria)
• City of Adelaide Council – Energy Assessment Program for Small Business (South Australia, local)

Manufacturing sector

There are currently 145 grants worth $28.8bn specifically for manufacturing projects.

Companies manufacturing offshore can face challenges in bringing production back to Australia including cost, skills shortages and equipment. Grants, subsidies, tax incentives and venture capital provide the investment and incentives to boost manufacturing and modernise activities in Australia and are worth billions. Major manufacturing industries including food and beverage, for small, medium and large businesses, and startups can apply for manufacturing grants that are worth billions of dollars annually.

Grants in this sector include loans and tax incentives to businesses to help them innovate, research and develop systems and products. Grants vary from thousands to millions of dollars, and eligibility can depend on business turnover, type of business and project.

Included below is a snippet of what is available:

• Access Asia Business Grants: Pool $325K (Western Australia)
• Adelaide Great Wine Capitals – Outbound Knowledge Exchange Bursary Program: Max $6000 (South Australia)
• Advance Queensland – Backing Female Founders Program: Accelerating Female Founders Program (Founders) (Queensland)
• Advanced Manufacturing Ecosystem (AME) Fund: Open Pool $7.5m (Northern Territory)
• Advanced Manufacturing Quality Assurance Program: Pool $450K (Tasmania)
• Advanced Manufacturing Skills 2 Manufacturing Program: Pool $600K (Tasmania)

There are so many related industries and activities that are funded and should be considered when putting together a grant strategy and plan.

Have you considered agriculture, tourism, sustainability, innovation, infrastructure and equipment?

To really understand and best navigate the grant landscape, you should always consult a professional in the field to best maximise your success in this competitive arena of grant funding,

*With specialist teams in the Research and Development Tax Incentive and the Export Marketing and Development Grant along with access to competitive grants, Melrose International has experience in working with food technology and manufacturing industries. Some examples include: Four Pillars Gin, Meredith Dairy, Pana Organics, General Foods, Ryan Farming Machinery, Mercedes Packaging Group, Life H2o, Turbo Heat, AquaBUBBLER, Mobility Access Modifications and Airora.

Image credit: iStock.com/Kiwis