Business Growth Grants

This month is about grants, where to find them, how to use them, and what you're eligible for. Today we're covering the Business Growth Grant, one of the services offered under the Entrepreneurs' Programme. Is your business eligible?

The Grant

Business Growth Grants are to reimburse a business for up to half of the cost paid for a service provider. The grant can be up to $20 000 (excluding GST). The funding is set aside for supporting projects undertaken to improve a business. This does not include everyday expenses of the business, but will include purchases and services that will improve the overall service and skill your business can provide.

Eligibility

An eligible business will:

• Have received a:
• Tourism Partnership Plan
• Supplier Improvement Plan
• Growth Plan, or
• Entrepreneurs' Programme Business Evaluation Action Plan
• Submit an application within six months of receiving above plan
• Be implementing action points included in above plan
• Be able to cover the entire cost of the project before receiving the Business Growth Grant

Services that Qualify You

The Business Growth Grant is only available to businesses who are employing a professional or paying for a service that will improve the quality of service they provide. This could include services such as hiring mentors for staff, or conducting intensive training or up-skilling. The service must directly improve the business, such as hiring a professional for Intellectual Property (IP) advice, or to bring on an advisory board. The grant could also cover equipment costs, for example, in order to grow the business to accommodate demand for a product. It may also cover advanced technological machines such as medical devices, or logistical systems.

For specific criteria, and for questions about the grant, check the Government document.