On 1 July 2015, an Entrepreneurs’ Infrastructure Programme was launched by the Federal Government with the aim of driving business growth and competitiveness by supporting business improvement and research connections. The Programme hopes to achieve these goals through providing small businesses with advice and guidance from experienced Business Advisers. In addition, there is also $20,000 available on a matched funding basis for building firm capabilities.
Please click here to read the Programme guidelines.
- Federal Government Programme offering free review of your business
- Review conducted by a Business Adviser with over 20 years’ experience in the private sector running or building businesses
- Funding available – $20,000 on a matched funding basis for building firm capabilities
- Eligibility – simple, straightforward criteria
- Application process – 15 minutes with approval usually within a week
The Entrepreneurs’ Infrastructure Programme assists small and medium size businesses in all technologies including the Medical Technologies and Pharmaceuticals Growth Sector, Engineering and IT to improve their productivity and competitiveness by providing professional business advisory and development services.
The Programme provides a Business Adviser to conduct a comprehensive Business Evaluation of an eligible firm that identifies its strengths and weaknesses, strategic business issues, potential areas for business improvement and potential areas for growth. This review is conducted without charge.
For business improvement or change recommendations from the business review which require the assistance of an external service provider, the Programme will reimburse a firm for 50% of the costs of engaging the service provider to a maximum reimbursement of $20,000.
Eligible companies must:
- Be a firm operating in a technology area including the Medical Technologies and Pharmaceuticals Growth Sector (see below for example)
- have an Australian Company Number (ACN)
- have turnover or expenditure of between $1.5 million and $100 million in the current or previous two financial years
- be solvent
- have been trading for the past three years (i.e. have filed Business Activity Statements for the last three consecutive years)
- not have received a Business Evaluation or Business Review previously
Medical Technologies and Pharmaceuticals Growth Sector
- Businesses that develop or produce therapeutic, medical or pharmaceutical products or technologies, including complementary medicines.
- Businesses that provide integral services, technologies or inputs to the development and production of therapeutic, medical or pharmaceutical products or technologies.
- This definition excludes businesses that are hospitals, medical and other health care services, residential care services, social assistance services and retailers of medical and pharmaceutical goods, except where they can demonstrate they also substantially undertake the above activities.
All business advisers have extensive experience in private enterprise, generally in senior management positions.
To find out more about the Programme, please click here.