Best Government Grants for Small Businesses and Startups: Complete Guide

Small businesses are the heart of Australia. 

With more than 2.5 million small businesses supporting the nation’s economy, it’s no surprise that there is plenty of financial assistance available.

Small business grants are broken down by support types, such as funding, loans, sponsorships, tab benefits, subsidies and rebates, along with advice and mentoring. There are plenty of government grants for small businesses that assist a wide range of industries, but it’s tricky finding the right one alone.

In this complete guide, we’ll look at the best resources available for getting your small business the grant it needs for support, momentum and expansion.

Best federal government grants

Business Gov: designed to assist businesses in almost every stage possible, this platform by the Australian Government offers more than 500 active grants at any given time. 

 It supports a large range of industries including:

• Accommodation and food services
• Administration and support services
• Agriculture, forestry and fishing
• Arts and recreation services
• Construction
• Defence
• Education and training
• Electricity, gas, water and waste services
• Financial and insurance services
• Health care and social assistance
• Information media and telecommunications
• Manufacturing
• Mining
• Professional, scientific and technical services
• Public administration and safety
• Rental, hiring and real estate services
• Retail trade
• Transport, postal and warehousing
• Wholesale trade

Because the Australian government provides these grants, they’re accessible nationwide. The website has an easy-to-use filter setting that makes the navigation and application process streamlined.

• Austrade Landing Pad: Designed to support Australian technology companies to expand globally, these grants are for start-ups that are marker-ready and have the potential for rapid growth. There’s an opportunity to expand into London, San Francisco, New York, Singapore, Bengaluru, Shanghai and Tel Aviv.

Eligibility is set on four criteria that include vision, traction, scalability and differentiation.

• Accelerating Commercialisation: This grant helps small businesses develop their novel project into commercialised products or services. Novel projects must be genuine innovations that possess a strong value proposition with clear market demand.

The minimum grant amount is $50,000 and can reach up to $1 million. Naturally, there’s a strong assessment process, but products/services that show promise will be assisted by a facilitator to fill out the necessary paperwork.

• Regional Investment Activation Fund: With a grant amount from $1 million to $10 million, this ongoing grant focuses on supporting time-sensitive projects with strategic significance for priority industries or locations.

Applicants must be able to deliver significant economic, social or environmental benefits to be eligible. The funding is targeted at regional NSW and application information can be found on their website.

• Export Development Grant: Having assisted more than 51,000 small businesses to market their products/services in around 180 countries, this grant is targeted to help businesses grow their exports in international markets.

It supports three tiers, which include ready-to-export, exporting and expanding, along with exporting, expanding and strategic shift.

Best state small business grants

New South Wales

• SafeWork small business rebate: The ongoing grant funding is there to assist small businesses in purchasing safety items to improve work health and safety for workers. The program grants up to $1,000 and is an easy method for ensuring safety items don’t eat into your cash flow.
• Female Founders Program: Focusing on female-founded tech businesses, this program provides access to mentors and connections, along with an 8-week program to help test and launch ideas into the market.

South Australia

• SA Venture Capital Fund: This grant invests in early-stage businesses to accelerate their growth on a national and global scale. The fund is up to $50 million, ensuring plenty of room for many businesses with promising ideas to scale up.
• Research and Innovation Fund: Entrepreneurs and small businesses that are developing products that could have a broad benefit to the community are eligible for this funding. The program offers between $20,000 and $500,000, with the funding determined case-by-case.

Western Australia

• Small and Medium Business Recovery: If your business was affected by Ex-Tropical Cyclone Ellie and Tropical Cyclone Ilsa, this grant applies to you. The grant provides reimbursements of up to $50,000 for small businesses, with applications open till 30th June 2024.
• Farm Water Supply Planning Scheme: Water supply is integral to Western Australia, and this funding helps infrastructure projects related to farm water. Funding of up to $1,000 is provided, along with an auditor to help determine methods of improving your sustainability.

Australian Capital Territory

• Skilled to Succeed Innovation Grants Program: Catering toward priority sectors such as renewables, technology, constructions, the care sector, along with tourism and hospitality - this grant is a priority of the ACT Government. Businesses can apply for up to $90,000 to assist them.
• ICON: The Innovation Connect Grants offers matched-funded grants between $10,000 - $30,000. It supports early-stage innovative entrepreneurs to become market ready, assists in development, testing and with legal advice.

Northern Territory

• Business Growth Program: Small businesses with an annual turnover of over $75,000 but less than $10 million can apply for this grant. It provides access to professionals to improve your performance, sustainability and profitability.

Grants of up to $10,000 are offered based on a 50/50 co-contribution.

• Business Innovation Program: Start-ups or entrepreneurs in Norther Territory can apply for up to $30,000 in government funding to develop and commercialise their innovative concepts. There are also mentoring and networking opportunities, along with up to $2,600 in advisory services.

Queensland

• Small Business Grants Schedule: Although currently closed, this reoccurring grant offers between $50,000 to $75,000 for high-growth potential small businesses. This grant is highly competitive and not all ideas will be funded, hence it’s good to have a strong conceptual foundation that displays promise.
• Business Basics Grants Program: Similar to the programs grants above, the basics program provides funding of up to $5,000. 

The funds support -

• Business continuity and succession
• Strategic marketing 
• Business advice
• Website building/upgrades
• Coaching

Tasmania

• Business Growth Loan Scheme: For the purpose of development, expanding or undertaking new projects, this program offers loans from $100,000 to $3 million. It has concessional interest rates and the scheme is ready to provide an overarching funding of $60 million.
• CSIRO Kick-Start: Research and development is the theme of this funding for startups/small businesses. CSIRO will help provide matched funding of $10,000-$50,000 and aid throughout the research, development and testing periods.

Grants by Industry

There are plenty of financial assistance options for specific industries. Business grants for specific industries often have their own websites and many government grants are already segregated by industries.

• Manufacturing: The Manufacturing Modernisation grant is the biggest and most consistent initiative to support small to medium enterprises. The previous one offered grants between $100,000 and $1 million. It supports manufacturers to create jobs, become more productive, increase innovation and adopt new technologies.
• NSW Environmental Trust: Any innovation or concept that can benefit the environment and improve sustainability can find a suitable grant from the NSW Environmental Trust. With funding ranging from $60,000 to $3 million, there’s an opportunity for small businesses that show proven promise.

Other industries: Finding it difficult to locate grants for your specific industry or location? As mentioned earlier, using the Grants and Programs Finder by Business.gov.au is the easiest method. The simple filter system lets you select your industry, location, objective, business stage and the support type you need.

There’s Plenty of Options

Thanks to Australia’s comprehensive business support structures there are business grants no matter what industry of location you belong to. 

Whether you’re searching for funding, advice, loans, expanding business networks, finding methods for job creation or many other factors, there are grants to support it. But before you embark on completing applications, make sure to read any criteria or eligibility conditions to secure the likelihood of acquiring a grant.