Why would the Australian Government invest in your business?
The Australian government has several agencies specialised in funding programmes for existing businesses across the country. If you wonder why the Australian government would invest in your business, the answer is a simple one. Small businesses are considered to be the backbone of the economy and as they contribute to the economy of the country by paying their taxes and contributions, the government is directly interested in their prosperity. Moreover, prosper businesses with a good potential of further development offer jobs and they thus benefit the local community.
These are the main reasons the government is interested in investing in your business. In order to do this, several agencies have been created to offer small business grants for a variety of industries. You should be aware of the fact that not all businesses are eligible for such grants, so you should first check this for your business before applying.
Government grants are generally offered to businesses that are involved in innovative research and development in their specific industries. The money are destined to expanding your business and the good news is that you will not need to pay them back, as it is the case with loans from private institutions.
Getting free money from the government for developing your business is a rather long process and there are several steps you need to complete in order to access the money. If you have determined you are eligible for getting funding, the next thing to do is come up with a business plan. The panel review will want accurate descriptions about your existing business as well as all your business plans for future. As there is plenty of paperwork to sort out when applying for government grants, a good idea would be getting some specialised help.