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Grants of the Month – August 2024
Small Business Electricity Credit 2024 WA
This program provides energy bill relief for WA small businesses and charitable organisations operating in embedded networks.
What do you get?
One-off payment of $725.
Overview
Energy rebates are available to small businesses and charitable organisations that operate in embedded networks in WA.
Embedded networks include examples such as:
- shopping centres
- businesses operating from airports
- ports and industrial parks
- businesses that have a sub-meter linked to a master meter controlled by the landlord
- other circumstances where landlords purchase electricity from energy providers and on-sell the electricity to tenants.
Innovation Booster Grant WA
This program provides funding to WA start-ups and small businesses to help them commercialise innovative ideas or projects, and to expand to create jobs.
What do you get?
Matched funding of up to $40,000.
Overview
Funding is available for startups and small businesses to access professional skills, services or knowledge to help them advance an innovative idea, project or commercial activity.
The funding may be used to:
- help develop new or enhanced commercially-ready products or services
- establish a minimum viable product (MVP), prototype(s), processes or systems that might attract additional investment and/or customers
- address a particular technical problem that cannot be solved by the applicant, or for which the solution is not readily available.
Recipients will need to provide a net cash co-contribution at a rate of at least 20:80 applicant-to-state government funding.
NewAccess for Small Business Owners
This program provides free and confidential mental health support to small business owners.
What do you get?
Free and confidential mental health coaching.
Overview
This mental health coaching program has been developed by Beyond Blue to give small business owners support during challenging times.
Over 6 sessions, a NewAccess coach will work side by side with business owners to overcome difficult issues and provide practical skills to help them manage stress.
Small Business Skills and Training Boost
This initiative provides small businesses with a bonus tax deduction to help them train new staff and upskill existing staff.
What do you get?
Additional 20% tax deduction.
Overview
Small businesses with an aggregated annual turnover of less than $50 million will be allowed an additional 20% tax deduction for external training courses delivered to employees by registered training providers.
The boost applies to eligible expenditure incurred from 7:30 pm AEDT on 29 March 2022 until 30 June 2024.
The expenditure must be:
- for the provision of training to employees of your business, either in-person in Australia, or online
- charged, directly or indirectly, by a registered external training provider that is not you or an associate of yours
- already deductible for your business under taxation law
- incurred within a specified period (between 7:30 pm AEDT or by legal time in the ACT on 29 March 2022 and 30 June 2024).
Start-Up Finance Package
The Start-up Finance Package provides Aboriginal and Torres Strait Islander start-ups with access to loans to help new businesses get off the ground.
What do you get?
Finance package of up to $100,000.
Overview
The start-up finance package is up to $100,000 and includes:
- up to 30% of a new business loan as a grant to purchase assets for the business which does not need to be repaid
- flexible loan repayment options
- no application or line service fees
- loan term of 7 years
- minimum security requirements.
