New and Better Ways of Wealth Creation

Government Funding

In Australia, there are literally thousands of government grants and programs available for a wide range of businesses both on a State and Federal level and finding the right one for your business and/or innovative idea is usually a time consuming task.

Funds for grants are set aside by the government to support individuals, businesses, community groups, associations and industries with a particular purpose. The purpose of each grant varies greatly and depending upon the grant can assist in a number of different activities.

Some examples of the type of activities grants can support:

• Commercialisation of an innovative product, process or service.
• Research and development activities leading to internationally competitive commercial products or processes.
• Adoption of new and innovative practices, processes and products in Australian farming, fishing and forestry businesses.
• Seeking out and developing export business.
• Development of business plans and marketing plans for small business.

There are many potential sources of funding for businesses through government grants. The best way to find grants is to surf the web or look in the newspapers.

Once you have found a grant that may be applicable to your business or project you need to get a copy of the guidelines and application forms and check the eligibility criteria carefully. It is important to read these thoroughly before starting the application as most grants are very competitive and unless you match the criteria of the grant there is not much chance of your application being approved.

Our Government Funding Assessment service has been designed to assist you find the grant(s) applicable to your business. To find out more about this service click here.

Writing an application for grant funding

There is an art to writing a successful grant application. Most grant applications require a significant amount of time to complete and can take weeks if not months to finalise.

Before starting your application you must make sure that your business or project is ready for the grant, that you are at the stage of development the grant covers. You will need to demonstrate this clearly in the application.

You need to make sure that each question in the application is answered clearly and precisely. Relate back to the program guidelines and keep in mind any criteria that has been set out in answering the questions.

Also, there is usually a contact person for each grant so if you don't fully understand a question it is best to ask for assistance rather than submitting an application that does not fully cover what they are asking. Remember grants are very competitive so you want to be sure your giving the right information.

The assessment process

Writing an impressive application does not ensure success. As mentioned before most grants are highly competitive and assessors will be reading many application forms. This is why it is very important to keep your application clear and accurate and directly relevant to the selection criteria.

The assessment process may take some time. Usually you will be advised on receipt of your application and given an indicative timeframe of when successful applicants will be announced.

It is always a good idea to keep a copy of your application in case you are contacted during the assessment process and make sure that you keep a record of any contact with the department and the key outcomes of the discussion.

Our Government Funding Assessment service can help you find the right grant for your business or idea. Click here for more …