The Business Competitiveness Program is open for applications. The Program Manager has advised of an extension to the application deadline. Applications will now close on 4th July 2021 instead of 20th June 2021.
Overview of the grant
This program is open to Victorian businesses as part of the Manufacturing and Industry Development Fund. The Business Competitiveness Program will provide assistance to Victorian manufacturers seeking to expand their manufacturing operations and implement new manufacturing technologies and processes.
The program aims to create jobs, increase industry competitiveness, and help strengthen local supply chains in traditional and emerging manufacturing sectors where Victoria has competitive advantages.
Available funding
Grants of up to 33 per cent of eligible project expenditure are available on a competitive basis. Grants valued at between $50,000 and $500,000 are available.
What can the grant funds be used for?
Funding will support the purchase and commissioning of capital equipment and associated project expenditure related to manufacturing product and process improvements, prototyping, evaluation and testing of new products and processes, and supply chain capability development.
Eligibility
Small and medium sized businesses that are on a growth trajectory and require support to expand their manufacturing operations.
Applicants must meet the following criteria to be eligible for assistance under the program:
- Be a legally structured business registered in Victoria with an Australian Business Number (ABN).
- Agree to meet any co-contribution requirements with eligible cash expenditure.
- Agree to meet all industrial relations obligations as an employer in accordance with the National Employment Standards.
- Have an operating presence in Victoria.
- Be currently engaged in manufacturing or the manufacturing supply chain or demonstrate a genuine commercial connection to the manufacturing supply chain.
- Employ at least 20 FTE* (full-time equivalent) staff or have an annual turnover of greater than $1.5 million (preference will be given to applicants that employ less than 200 people)
- Agree to conduct the majority of proposed activities in Victoria.
- Provide financial reports for the last three financial years to enable the Department of Jobs, Precincts and Regions (the Department) to conduct a financial risk assessment (FRA).
- Agree to participate in future program evaluation activity.
Get in touch with the Saving Point Grants team if you are interested in learning more about the program, and how we can assist.
