Grants can help to get your business started

The City of Sydney Council is encouraging entrepreneurs to start up laneway businesses to revive the old style of business.   

The New Enterprise Incentive Scheme (NEIS) is available for job seekers wanting to start their own venture. 

NEIS business assistance is for people that fit the following criteria:
  • be new and not yet operating commercially
  • be independent, lawful and reputable;
  • be assessed as commercially viable;
  • not compete directly with existing businesses unless it can be demonstrated that there is an unsatisfied demand for the product or service, or the goods or services are to be provided in a new way; and
  • not involve the purchase or take-over of an existing business
  • Further information and application forms

For other ideas on funding, have a look at the link for Business Enterprise Centres (BECs), which have a range of grants and assistance available.

If you need to, ring someone at the BEC and ask them for help.
BEC’s are also a great way to get started and network with other small businesses.

Grants may also come with some mentoring assistance or resources from the organisation supplying the funding – a double bonus.

Another useful tip is to have someone read through your grant application and make any suggestions – it is good to get other people’s perspective.

Depending on how much money you need, you may still need to apply for a loan. But a grant may give you the funding boost you need.

Have you had success with a grant to start a business?



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About this Blog

Starting a new business can be financially difficult for anyone especially if you are giving up an existing job paying you a regular income.

You’ll have costs too, such as fitout, rent, and staff wages. Managing the cash flow right is one of the most important things in a start up business. This can amount to a large hole in your financial situation. If a grant is available to suit your needs, then this may be the go. Although you may need a loan, see if you can find a grant first. Also search for grants on Google as see if you can find samples of a grant to see how it is done.

 
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