To start a business is a tough job. Especially if you have an idea but you don’t have the money to make it reality. What most people do is to get a loan, but in the long run they realize that loans are just temporary solution of the problem. One of the things that you can actually do is to find funding from private investors or from government program. Here is one way to fun your startup if you are developing it in Australia.
Australian government offers starters a couple of options for funding. Depending on the area in which you want to make business there are different options for government grants: Entrepreneurs’ Infrastructure Programme, grants for defence industry, Growth Fund, Import and Export Assistance, Industry Skill Fund, Regional Innovation Funds, Innovation and R&D and many others.
These grants have different range according to the program itself. For example, Entrepreneurs’ Infrastructure Programme is a program that offers support through network of advisers in business management, research connections and accelerating commercialization. This program focuses rather on problems solving through advices and creating of connections than financial assistance.
Other options for business grants are:
- Enterprise connect
It offers business reviews for entrepreneurs for free. The Tailored Advisory Service grants allow you to engage consultants to help you with business improvements.
- Grow your business
It’s a program of the Victorian Government that offers to cover up to 75% of the costs you will make on a group project.
- Venture Capital Limited Partnerships
It helps you to find foreigner managers who want to invest in new companies with at least $10 million venture capital and assets of up to $250 million. All you need to do is to register in the site of the program. The only condition is your primer activity to be different from property development or finance.
- Export Market Development Grants
These are business funding grants that promote and allow Australian businesses to access overseas markets.
- iLab
Scheme funded by the government of Queensland especially for tech startups.
Except the government, there are also a lot of private investors that look for promising starting projects to invest their money. So if you can’t find a government program that fits you, maybe it’s time to search for private investors? Just search and you will find the right grant.