Importance of Australian Grants
Grants, as the name suggests, it involves the options of getting the necessary funds or means from the government for any government aided firms. Many types of funding ways are available for the entrepreneur in today’s world. The funding is not limited only to the government aided firms, it expands into various other streams such as venture capitalist, angel investors and crowd funding. These options give a variety to the level of funds to be invoked by the individual or company. Angel investors assist a new and small business where as the venture capitalist is more focused on the expansion of an existing big firm. But all this options are only second to the grants that are given by the government itself. This is because the interest which the government gives the funds at
is very low and it is also a secured mode. Let us venture in to the Australian grants and look a little in depth of few of its features.
Australian grants are those which are provided for the business by the federal state itself. But one major draw back of the Australian grants is that they favor the funding of already existing business rather than investing more on new and up coming business. This inhibits the growth of the budding entrepreneurs. It makes them seek different ways to initiate the business by finding alternate funding source. Each of the grants available by the federal state would clearly show the limit of funds available for the particular genre and the resources that are up for grabs in the same field.Grant programs are available for almost all categories of the business.
The nature of the project would finally act as a factor to the amount of funds received. The range of funds could be right from 1500 dollars to 10 million dollars. Let us now have a peep into few of the categories that is available for grants and its requirements. One of the major grants
would be the relocation funds. This is a grant that is given to the business which is ready to relocate its location and expands its roots in other areas. The requirement for the grant would be based on certain factors such as the amount of employment given and the salary at a specified time limit.
Another major Australian grant given by the government would be the access to the resources required. Any business would face a situation where in they are not in a position to avail the latest technology to test or enhance the product quality due to lack of funds. The grant ensures that the state of the art facilities are available for the business to test and enhance the product. It also gives grants to ensure proper marketing and advertising is done to initiate the success of the product.
Australian grants are also available at a no pay back form as well. These grants are given to those business which creates a new product in to the Australian and international markets. Thus millions of dollars are spent on the products innovation. Small business availing these grants could invoke continuous funding as well. Grants in Australia are available in plenty, it is up to the entrepreneur to chose correctly and avail it.