Finally a Break for Small Businesses

Have you ever felt frustrated at the thought that Google and Apple don’t pay tax? Alas it is a waste of energy lamenting about what could be. As small businesses we need to focus on developing our brands and growing our businesses so that we are profitable and viable.

We are very excited to announce that there is currently a break for small businesses. Friday afternoon we held an information session for individuals and small businesses to find out if they are eligible for a new stream of funding. This funding is called ‘Industry Skills Fund’. The Industry Skills Fund assists businesses to invest in training and support services, and to develop innovative training solutions. The fund will help build a highly skilled workforce that can take advantage of new business growth opportunities and adapt to rapid technological change.

To be eligible for assistance your business must be a solvent Australian enterprise that:

  • Is non tax-exempt or is a Trust with a trustee that is non tax-exempt;
  • Has an Australian Business Number (ABN);
  • Is registered for GST;
  • Has a demonstrated trading history; and
  • Is not named by the Workplace Gender Equality Act 2012 (Cth). Companies on the current list of non-compliant organisations are not eligible to apply.

The types of assistance available under the fund are Skills Advice and Training Grants:

Skills Advice

Identification of skills opportunities to maximise training outcomes.

Experienced skills advisers dedicated to solely to providing advice under the fund will work with you to:

  • Understand your growth opportunities
  • Identify the skills needed to help increase competitiveness and achieve the growth opportunity.

Training Grant

Co-investment with your business to improve the skills of your workforce for an identified growth opportunity.

Financial co-contribution

The fund operates a co-contribution model where your business is awarded funding must financially contribute to the proposed project. The required contribution amount (percentage of the total project cost) is dependent on the size of your business  and determined by full time equivalent (FTE) staff levels:

Micro business (0-4 FTE) – 25{6eb5b285719c38b98d296534bb2d1af2b6691e599bbd1b576d3e171c55ea7707}

Small business (5-19 FTE) – 34{6eb5b285719c38b98d296534bb2d1af2b6691e599bbd1b576d3e171c55ea7707}

Medium business (20-199) – 50{6eb5b285719c38b98d296534bb2d1af2b6691e599bbd1b576d3e171c55ea7707}

Large business (200+ FTE) – 75{6eb5b285719c38b98d296534bb2d1af2b6691e599bbd1b576d3e171c55ea7707}

We are holding more information sessions in the coming weeks presented by our Industry Skills Fund representative. One for Fitness Professionals and one for Small Businesses, where you can find out more information about the fund, talk to our Industry Skills Fund representative, find out if you are eligible and assist you in putting through your application.

If you are interested in attending one of these sessions, please email chantel.marchesani@fireup.com.au and she will let you know when the next session is.

Like this article? Share it!