In Australia, most of us live less than 50 km from a coastline. Not only do we get to wake up to beach sights and sounds of breaking waves but as Australian women, we have opportunities to grow our businesses to the next level. And let’s not forget, we live in the same country where the richest woman, Gina Rinehart, earns $1 million every two hours.
Even so, some days, business growth seems impossible because women encounter competition from their male counterparts.
However, the future is bright for women business owners who need to invest in their businesses. There are financial institutions that focus on supporting female small business owners through grants and small business loans for women.
Having access to financial products tailored exclusively for women gives female entrepreneurs hope for continued success. And while there are many business loans they can apply for, it’s always better to get a grant, as it’s free money that doesn’t involve a loan payment or interest.
Business grants available for women in Australia
Compare these grants to learn what each one offers, how much money you can get and information on how to apply:
1. Investing in Women Funding Program
This program is geared to benefit individuals, families, and communities by enhancing women’s economic opportunities and leadership.
The New South Wales government women’s funding program supports projects based on business stages of growth. Up to $25,000 can be used by organizations to explore and develop a project, $50,000 for testing and growing, and $100,000 for self-sustained projects that are ongoing.
Applicants include not-for-profit, local councils and shires, and private sector industries that directly support women and girls. For information on how to apply, contact Women NSW.
2. Australia Startups
Australia’s small business grants for women help women pursue their business dreams and get help with startup costs. These grants can also be used to help existing businesses expand.
Along with filling out an application and submitting other required forms, you’ll need to send in a business plan summarizing your business and financial objectives. Grants range from $5,000 to $50,000, while some applicants may receive additional funding.
You can contact Australia Startups to register as a member and search for specific funding to match your business needs. In some instances, private investors are willing to invest their time and money into your business.
3. Grants for Business Women
Small business grants are available for women through state, local, or federal government programs.
Money can be used for business growth and development to purchase equipment, hire employees, mentoring, to relocate your business and for other business purposes. There are over one thousand women-focused business funding programs designed to help businesswomen start, develop or grow their businesses.
Applicants also gain access to business mentoring, professional advice, workshops, and other benefits. You can speak with a consultant to find out more information about the business grants including what amounts your business may qualify for.
Now could be the perfect time to get a business grant
As a female entrepreneur, growing your business is a top priority.
Gaining access to money that you aren’t required to repay is a sound financial decision. Make sure you’re prepared before you apply because business grants come with deadlines. It’s important to be able to clearly state your goals and objectives and how you’d go about completing those tasks.
After you review the grants, decide which ones are suitable for your business, and submit applications. If you don’t fulfil the requirements, don’t worry, you should get a small business loan that can help you thrive and grow.
Then, you can enjoy drinking Australia’s tasty wines or visit Fraser Island to celebrate. Your business is headed in the right direction because you’ve taken confident steps forward.