You may be eligible for one of the many sources of funding available for businesses in Victoria if you:
- Need to kick start your business to get it up and running
- Require extra funds to grow your business
- Want to undertake research and development
- Are currently exporting or planning to export
Financial assistance for your business may come in the form of a grant from government or from private industry, such as the Melbourne City Mission's Slingshot program (new window).
The three main categories under which you can find government grants and financial assistance include
- Starting a new business or business expansion
Exporting
Research and development
Starting a new business and business expansion
Business Victoria
The Victorian Government, through Business Victoria, offer services and advice to help Victorian businesses to become internationally competitive.
You can search for a Program or grant (new window) through the interactive wizard.
New Enterprise Initiative Scheme (NEIS)
If you're 18 years or older, receiving payments from Centrelink and have a viable business idea, you may be eligible for the New Enterprise Initiative Scheme (NEIS) (new window).
Through this program you'll:
- Receive a nationally accredited Certificate IV in Small Business Management
- Undertake an intensive training course and develop a business plan
- Receive ongoing financial assistance for up to 12 months if the NEIS panel approves your business plan
Exporting
Vic Export
The Business Victoria site lists export Programs, grants and assistance (new window).
Austrade
These federal Victorian government programs assist Australian exporters:
- New Export Development Program (NEDP) (new window)
Free export services and assistance to help small to medium-sized business make their first export sale - Export Market Development Grants Scheme (EMDG) (new window)
Provides assistance to small and medium Australian businesses to develop export markets by reimbursing part of their export promotional expenses
Research and development (R&D)
The Business Victoria site outlines funding opportunities for:
- Developing Products and Services (new window)
- Science, Technology and Innovation (new window)
Where else can I find funding assistance?
Local councils
Check with your local Council (new window) to find out what kind of business grants they offer. For example the City of Melbourne gives grants of up to $50,000 to small businesses through its Small Business Development Program (new window).
Competitions
INNOVIC run the Next Big Thing (new window) competition to find and promote innovative products. Applications close 14 March 2008.
Links for grants and assistance
Business Victoria - Finance Grants and Assistance
Programs and financial support for Victorian businesses.
Business Victoria - Regional Victoria Grants Opportunities
A comprehensive list of grant opportunities in regional and rural Victoria.
GrantsLink
Federal Government grant site where you can search for business grants.
AusIndustry
Supports industry, research and innovation, in particular, growing small businesses, commercialising new technologies and applying for tax and duty concessions.
