SME grants on offer for securing government and private contracts
Grants up to $50,000 to support small to medium businesses to bid for government and private sector contracts have been announced by the State Government.
Under the Local Capability Fund (LCF), the Government is committing more than $3 million to help “recipients improve their capability, capacity and competitiveness to supply goods, services and works to the Government, major projects and other important markets”.
It includes four new LCF rounds worth $2.2m for 2023-24:
- Supplying Key Projects Round to assist businesses around the State to supply to projects in priority sector markets. Closes 31 October.
- Aboriginal Business Round to support businesses with majority Aboriginal ownership. Closes 31 October.
- National and International Standards Compliance Round to help with the costs of engaging external expertise to carry out implementation and third-party certification of seven specific national and international standards. Closes when funding is fully committed.
- A pilot Digital Transformation Round, providing initial support for eligible businesses to adopt and use digital technologies and data and further the Government's understanding of needs in this area. Closes 8 November 2023.
Additionally, nine regional LCF rounds worth $900,000, with grants up to $20,000, will be progressively launched in 2023-24.
The funding can be used for expenses such as:
- making improvements to internal infrastructure, plant and equipment;
- meeting pre-qualification requirements for supply chain entry;
- buying and upgrading essential equipment;
- engaging consultants to advise on matters including occupational health and safety, marketing, finance and cybersecurity; and
- planning improvements to internal infrastructure, plant and equipment and training.
Through the LCF, more than 600 businesses have accessed funding of $22.7m, helping secure more than $1.05 billion in contract awards.
"This [the LCF] has resulted in more than 2,000 employment opportunities and nearly 250 apprenticeships,” says Minister for State and Industry Development, Jobs and Trade Stephen Dawson.
"The Cook Government encourages businesses to apply for the grant, which will help them in their bids for both Government and private sector contracts."
CCIWA’s Industry Capability Network (ICNWA) can connect your business with suppliers with the right capabilities for your project. Contact the ICNWA team on (08) 9365 7623 or by email at [email protected].