New opportunities and funding are available for WA’s Aboriginal businesses as a result of the COVID-19 crisis.
Indigenous Business Australia (IBA) is offering a support package to Aboriginal companies impacted by COVID-19.
IBA is offering specialist advice to help Indigenous businesses navigate the COVID-19 crisis, including a rapid assessment of business positioning, cashflow management and assistance to access available stimulus measures.
The package also includes working capital assistance. Where an Indigenous business is not eligible for other government stimulus packages, it can apply for working capital assistance of up to $100,000 via a loan/grant package (assessed on a needs basis), which will consist of:
- A grant of up to 50% of the package amount; and
- for the loan component, up to 36 months loan term, zero repayments for the first 12 months, and preferential interest rates thereafter.
Up to $50 million in assistance is being provided through these initiatives.
The support package is part of a $123 million Federal Government funding boost to help bolster Indigenous communities and businesses through the COVID-19 crisis, and aid in their recovery.
The funding will be made available over the next two years.
The Department of Finance is currently developing a list of Aboriginal businesses who are capable of providing COVID-19-related products or services to the WA Government.
Some example categories include:
- cleaning products;
- commercial cleaning;
- health and wellbeing;
- human resources;
- medical equipment
- office equipment;
- PPE and safety; and
- personal hygiene.
Businesses with relevant capability and experience and are invited to complete a survey providing their information and contact details.
There are also new opportunities for WA businesses with the ability to supply urgently-needed medical goods.
The Industry Capability Network WA is helping State Government find local businesses that can retool and scale up to manufacture personal protective equipment (PPE) and other priority health equipment.
Businesses can register their interest via the ICN Gateway.