Currently, small and medium sized enterprises or SME's, businesses that employ less than 200 employees account for 99.7% of all of Australia's actively trading businesses, this translates to roughly 2,045,000 SME's. SME's in Australia also employee approximately 70% of the Australian workforce and contribute approximately 55% to Australia's economic business output.
There are many government funding programs that are currently in place to assist these and new emerging small businesses to establish themselves and thrive in the Australian Economy. There are available government funding programs across all three levels of government; Federal, State &Territory and Local.
Federal Government funding programs are available to all small business owners across Australia. Eligibility for these programs is dependent upon many factors which differ depending on the particular program you are applying for. It is important to note that Federal funding programs are usually the most competitive, simply due to the fact that applicants are much less restricted by location, therefore these programs are usually harder to attain and the application process for these programs usually takes longer.
State & Territory Government funding programs on the other hand are allocated to small businesses within states or territories in Australia. This means less competition since you are competing within a smaller region.
Local Government funding is often the most specialized, only eligible business owners within a specific locality, city town etc. are able to apply for these funding programs. Although there are usually less local funding programs available, there is also much less competition for these programs since they are so location specific.
If you are an entrepreneur seeking business funding in Australia it is important to note that you are potentially eligible to receive government funding from all three levels of government. The more government funding programs you apply for the higher your chances of receiving funding. To find out exactly which government programs your small business may be eligible for, simply try our Grant Finder Tool , or speak to an agent directly at 1800 813 863 toll free.How much funding is your small business eligible for?
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