With the coronavirus pandemic continuing to hit hard in many countries worldwide, every government is doing its best to ensure its citizens survive the pandemic. Australia is one of the countries on the front line to ensure people have enough support for themselves and their families. In this case, the government has come up with various support programs to help people continue their lives amidst the pandemic. This article will learn about 3 main support programs of government grants introduced in Australia to help its citizens. Read on.
1. The Homebuilder
This is one of the largest schemes the government has introduced to assist people in building their houses or renovating their old ones. Every qualified applicant is getting a total of $25,000 as cash for home improvement tasks. However, only those qualified get it. The qualification procedure includes:
- Must be own or occupy a house-not as an investor.
- Must be an individual and not a company.
- Must be a citizen of Australia.
- Must be earning $125,000 a year as a single person and most $200,000 as a couple.
If you want to buy land in Wallan, Victoria from Fraser Property, you have a better chance of enjoying this grant. If anyone wants the grant for renovation, they must show the combination of kitchen renovation and bathroom renovation. The project must also be under the supervision of a licensed and registered builder.
You cannot be eligible for the Homebuilder if you want the money for other exclusive projects like building or renovating your swimming pool, building a spa, or others.
2. Entrepreneurs’ Program
This program came as a replacement for the commercialization grant in 2014. This program aims to assist small businesses to improve their production and survive the competitive market. It provides funds and networking to the facilitators and advisers in the private sector. The good news is that entrepreneurs get up to 50% of their project funds.
Apart from the funding, business people also can apply and get professional advice on how to run their ventures. This helps them cover the entrepreneurship gaps and accelerate their business growth. Anyone can apply for the program if;
- The company is registered and in operation in Australia
- They are an individual, partners, or trustees who come together to form the company
3. Business Growth Grants
Many entrepreneurs who start small fear that their business may not grow due to various situations lie employee burnout, lack of funds to support the business, the business rivals, and many more factors. The good thing is that these grants help in pushing businesses to the next level. By engaging a business expert and utilizing the growth grants, entrepreneurs can get expert advice to facilitate their growth.
Any person can apply for the Grants if;
- The business is for-profit, solvent, and registered and operating in Australia.
- The business has filed the BASs to indicate the progress in the last three years.
- The company’s major activity is trading
- The business is between $1.5million-$1000million
The government and other organizations provide many grants in all sectors. Today in Australia, many small business entrepreneurs are benefiting and getting another chance of accelerating their ventures.