Funding, Legal

New funding round launched for small textile firms

StartupSmart /

Start-ups can secure grants of up to $50,000 under AusIndustry’s Textile, Clothing and Footwear Small Business Program, with the sixth round of funding now open for applications.

 

The program aims to improve the business enterprise culture of established TCF small businesses. Successful projects must be directed at transforming decision-making and production processes, and making the business more entrepreneurial.

 

According to an AusIndustry spokesperson, it is a competitive, merit-based grants program, open to any eligible TCF small business or to a consortium that includes an eligible TCF small business.

 

An eligible TCF small business must have fewer than 20 employees, and undertake eligible TCF activities as defined by the TCF Post-2005 Scheme.

 

For example, a TCF business that manufactures or designs for manufacture in Australia is eligible to apply for funding.

 

However, a business that solely imports products made overseas, or only undertakes retail activities, is not eligible.

 

“Applications that meet the eligibility criteria will compete on merit against all other applications, for that round, from across Australia,” the spokesperson says.

 

The criteria includes whether the project’s outcome will meet program objectives, the level of commitment demonstrated by the applicant and whether the project can be started and completed within a single financial year.

 

According to the spokesperson, the funding is made available to successful applicants in two grant installment payments.

 

“The initial payment is made on contract execution. The final payment is made once we have received a satisfactory final report and an audited statement verifying expenditure,” the spokesperson says.

 

“However, sometimes AusIndustry may choose to schedule payments over three installments rather than two.”

 

“Grants are only to be used for approved expenditure incurred during – not before – the project period.”

 

“Routine business expenses, such as salaries of ongoing employees, advertising or routine accounting, are not eligible for grant support.”

 

Grant applications close on February 25. AusIndustry is also hosting a series of national workshops to help applicants focus on what makes a competitive application.

 

The workshops are recommended for applicants who have reviewed eligibility, have a specific project in mind and have started writing their application.

 

For details, contact the AusIndustry hotline on 13 28 46 or email [email protected].

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