A Guide to Australian Government Grants for Startups
The life of a startup inevitably begins with the need of funding. It’s important to know that the Australian government offers plenty of opportunities for small businesses and entrepreneurs at local and federal level – last year only over 40 billion dollars have been handed in the form of grants. This is a form of funding offered by almost all governments around the globe, but the current funding situation in Australia is an object of envy for most countries. The question is how to make sure your startup can take advantage of this vast pool of grant opportunities during the R&D stage?
More than 16 000 people applied for grants last year, so you need to make sure your business is eligible, properly registered and compliant with the grant’s terms and conditions to be able to plug in and fight the competition. Some people are being put off by the process – be prepared that it’s going to take a lot of time and efforts (and patience), but once you’re in this could mean a great leap forward for your venture.
You might be confused from the beginning as there are many types of assistance offered at any given moment and you have to select only those which fit your business’ purpose and goals. It would be a waste of time to apply to as many as possible hoping to be approved for at least one – if your startup doesn’t fit the purpose of a specific grant, you will simply be rejected right away. You can always search for assistance in finding the right one, as well as for the application process itself; sometimes the whole process is managed by an agency which makes it really difficult to find a centralized source of information. The time for approval varies between 3 and 12 weeks, and you should be available at any time if follow-ups are required. It’s important to know that the application process is guided by strict deadlines and you need to be well aware of them. So, better be prepared well for one or two, rather than wasting your resources on many!
Government grants are being offered in all spheres of business and industry – it’s an assistance every entrepreneur will find extremely useful during the R&D stage. There are also grants for those who want to expand their scope so that businesses at practically all levels of development can take advantage of government funding opportunities. They exist and they are ready to be used to good purpose – it’s up to you to take advantage of them!
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