Unlocking Opportunities: The Basics of Business Grants for Growth and Expansion in Australia

As a small business owner in Australia, you may have dreams of expanding your operations, investing in new technologies, or launching innovative projects. While funding can be a significant hurdle for many entrepreneurs, the good news is that there are business grants available to help you achieve your goals to grow and thrive. Here, we will explore the world of business grants and provide valuable insights on how you can leverage them to unlock growth and expansion opportunities for your business.

Business grants are financial resources provided by government bodies, non-profit organizations, or private entities to support the growth and development of businesses. These grants are typically awarded for specific purposes such as research and development, technology adoption, export promotion, workforce training, creating efficiencies, employing more staff, new programs, innovation and environmental sustainability.

Let’s go through the different types of business grants in Australia:

Government Grants: The Australian government (at three levels) offers a wide range of grants through different departments and agencies. The Federal Government grant programs, the State Government grant programs and your local Councils, all provide funding for various projects. Understanding the eligibility criteria and application process for these grants is crucial to maximise your chances of success. Signing up to their newsletter to be kept in the know for when their grant programs are released, is vital to ensure you kept informed of any grant opportunities that may be suitable for your business. 

Private Grant Programs: Many non-profit organisations and private entities also provide grants to support small businesses. These grants often focus on specific industries or social impact initiatives in a specific area or region. Researching and identifying relevant non-profit and private grants can provide additional funding options for your business. A way to be able to apply for these grants, is to partner or collaborate with another business or organization and deliver your project together for greater impact. 

We hear people talk about grants being available, and at any one time there can be more than 1500 grants available across Australia, but it’s important to remember that not all grants are created equal and not every business or organisation is eligible to apply. Every grant program is different and every business is different. 

Each grant program will have specific eligibility criteria that need to be met. While these criteria can vary, some common factors include business size, industry sector, geographical location, revenue, and project scope. Thoroughly reviewing the eligibility requirements of each grant will help you determine which ones align with your business goals. Ensure that you familiarise yourself and understand the guidelines early in the grant application process, so that you don’t waste your precious time on an application that doesn’t fit the eligibility criteria. 

You might be asking yourself, well where do I find these grants for my business? There are a number of free grant directories (as well as paid ones that you can subscribe to) that are worth subscribing to their updates, so that you’re kept in the know about grant programs being released. 

Using grant funding as a financial strategy for your business or organisation is a long-term strategy, it’s a marathon and not a sprint, which requires an investment of your time to maximise the opportunities and to find the right grant programs for you

The Australian government offers several resources to help you find suitable grants on websites such as business.gov.au, GrantConnect, and state-specific government portals provide comprehensive information on available grants, including eligibility criteria, application deadlines, and contact details. Google the State Government business website that is relevant to you and ‘bookmark’ the site on your web browser so you can easily find it. 

There are also a number of subscription-based grant databases and directories, where they have already done the hard work for you. These sites and directories aggregate grants from various sources, allowing you to easily search for the grants. Some examples of these are The Grants Hub (my favourite and where I’m listed as a Grant Writer),  GrantGuru, and GrantReady. These platforms allow you to filter your grants search based on your business's characteristics and objectives, saving you valuable time in the search process.

Many industry associations and business networks have their own grant programs or can provide guidance on relevant grants within your sector. Connecting with these organisations can give you access to specialised funding opportunities and valuable industry insights.

Now that you know how to find the grants, what’s next? Now we need to think about our grant application and I’ll step you through the process now.

Developing a Compelling Grant Application takes time and effort, and there’s a lot of preparation (what I refer to as being ‘grants-ready’) before we even start writing. 

Before even starting your grant application, you’ll need to thoroughly research the grant program's objectives and requirements in the Grant program Guidelines. 

This outlines what the grant funder is looking for and use it to align your proposal accordingly. It’s important to develop a clear project plan, including a timeline, budget, and anticipated outcomes.

Having a full understanding of your project, the reasons WHY you want to do it, what it will achieve and what impact it will have on your business or organisation is key here. Highlight how your project aligns with the grant's objectives and benefits both your business and the broader community or economy. This will allow you to clearly articulate the problem you aim to solve, the solution you propose, and the potential impact your project will have, while linking it back to the Grant Funder’s objectives and expected outcomes as listed in the Grant Program Guidelines.

Knowing your numbers will allow you to present a detailed financial projection for your project, including revenue forecasts, cost estimates, and expected return on investment, as well as the expected overall impact on your business. Outline how the grant funds will be utilised and how they will contribute to your business's growth and expansion. [On a side note - I’m a Chartered Accountant so I’m more than happy to help you with this financial piece (even before you have a grant application to apply for, as it’s a key success factor for any business, especially expanding and growing businesses). 

For any grant application, there will be a number of documents and supporting documents requested by the grant application, such as business plans, financial statements, quotes, budgets, proposed project plans, market research, risk management plans, and letters of support (and others, as each grant program has different requirements). It’s important that we are ‘grants-ready’ to ensure that all documents are accurate, up to date, and tailored to the grant's requirements to ensure we have a comprehensive application

My grant application tips include the following; start early, read and re-read the Grant Guidelines for the eligibility criteria (organisation AND project), plan properly and get someone to help you that has experience and expertise in writing successful grant applications and review properly. Grant writing is a unique skill in itself (and it’s not all about the writing!), so not all ‘writers’ are good grant writers. 

All grant applications often have strict deadlines, so it's important to start the process well in advance (start planning as soon as you hear about the grant program). This will give yourself ample time for thorough research, planning, and fine-tuning of your grant application. Ensure that you fully understand the guidelines and make a decision early if you’re going to proceed with the grant application (we offer 15-minute FREE sessions for this exact reason to SAVE you time!). If you're new to grant applications or require assistance, consider engaging a professional grant writer or business advisor. They can help you navigate the application process, increase your chances of success, and ensure your application is strong and compelling. Once your grant application is compiled, carefully review your application for any errors or omissions (or get someone else to read through it). Seek feedback from trusted individuals who can provide constructive criticism and help improve the quality of your application. Then you’ll be all ready to SUBMIT your grant application. 

Business grants present a valuable opportunity for small businesses in Australia to unlock growth and expansion. By understanding the types of grants available, conducting thorough research, and submitting compelling applications, you can increase your chances of securing funding for your business projects. Remember, grants are competitive, so invest time and effort into crafting a well-prepared application that clearly demonstrates the value and potential of your business. With the right grants, your business can thrive and achieve new heights of success.

If you’re still reading – WELL DONE (as I know that the grants space can be overwhelming at first!) and if this all seems way too hard, or not in your wheelhouse – I just want to say you’re not alone. This is the exact reason why I offer the services and support that I do in relation to grant applications and strategy. Just get in touch and we can chat about how The Grants Club team can get you sorted. Email us here

Or if you want to watch my Online Workshop about Writing Successful Grant Applications, check out my YouTube channel here

Get in Contact with Liz & The Grants Club team:

Email:  liz@grantsclub.com.au 

Website: www.grantsclub.com.au 

YouTube Channel: https://www.youtube.com/@thegrantsclub