Now, the above is a good question. I’ve covered most sources of capital and how to generate/save cash for your business in previous blogs.
One area that I haven’t spoken about much is government grants. Most state governments offer some form of assistance, ranging from workshops to cash grants. And the Federal Government has over 20 grant programs. Some are very specific, but you should be aware of what’s available.
In these times you want to access as much cash as you can.
Last week I was at a meeting of the COMET Committee in Canberra. Our chairman runs a company that manufactures mining equipment for the gold industry. Her company received a grant to further develop their technology. They have since made many millions in sales from that technology – a great result.
And there are lots of stories like that.
Let’s look at state governments first…
Some states have allocated sizeable budgets for “green” technology companies and research. There may be some opportunities there. If you can find any link to the “green revolution” then you have a better chance of accessing grants.
And don’t underestimate the value of getting to functions organised by various government departments. That’s often a good place to expand your networks and meet other companies that are looking for opportunities. Never know who you could link up with.
We all know that it’s tight and governments are cutting back. But, not everything has been cut, so get in touch with your state government and find out what’s on offer.
Make sure you are on the mailing lists that matter to you.
At the Federal government level…
Many of my clients have received small grants to grants of over $1 million from the Federal Government. That makes a real difference.
There are grants available right now. You can get grants for commercialising emerging technology (COMET), Climate Ready, R&D tax concessions, export grants, Green Building, and the list goes on.
Have a look at this site for details of the grants that are available.
How can you help?
If you have received a COMET grant or any other grant, then you can help.
The federal budget is in discussion right now. To make sure that ministers and parliamentarians understand how vital it is to continue assistance to SMEs, they need to hear from you.
If you have received any assistance then tell ministers and local members about your successes – the grant you received, how you used the grant and how it helped your company.
This is URGENT. The budget will be handed down in May. Take action today!
1. Email Senator Kim Carr: [email protected].
2. Or write:
62 Lygon Street
Carlton South Vic 3053
3. Write to your local member.
Till next time.
Gail Geronimos, is the founder of Achaeus, which helps entrepreneurs develop their businesses and she has just started a new site www.pitchingtoinvestors.com with tools and tips about how to develop killer presentations to raise capital.
To read more Gail Geronimos blogs, click here.