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Federal Government funding programs
New initiatives in the 2014 Federal budget that support business
(Unless otherwise indicated dollar amount is over 4 years)
Department of Industry
Entrepreneurs' Infrastructure Program$466.3m
In the process of being designed – no detail at this stage.
You can register your interest in the program on the AusIndustry Website.
Alternatively you can call the AI Hotline on 13 28 46 and leave your details.
Minister’s comments: The EIP will offer market and industry information, business management advice and skills from experienced private sector providers, access to researchers and innovators to re-engineer business operations, products and services, connections with supply chains and potential markets, and commercialisation advice through specialist sector expertise. Will be delivered through the new Single Business Service.
Industry Skills Fund
Minister’s comments: will deliver close to 200,000 targeted training places and training support services over four years. High-quality accredited and targeted training will be delivered by Registered Training Organisations to businesses.
Will be administered through the Single Business Service.
Trade Support Loans
From 1 July 2014 the Government will offer loans of up to $20,000 over the life of an apprenticeship. These loans will ease the financial burden and help increase apprenticeship completion rates. Like HELP loans for tertiary students, the loans will be repayable once apprentices are earning a sustainable income: 20 per cent will be immediately deducted from the total, with the balance to be paid off once they are on the job and earning.
Australian Government Innovation and Investment Fund for Tasmania$11m/3yrs
No details at this stage
Manufacturing Transition Grants Program
Transitioning traditional manufacturing businesses to areas of growth. This Budget initiative will commence on 1 July 2014 and will assist manufacturers to shift to higher value and growth markets.
No other details at this stage.
Industry Portfolio (p31)
Exploration Development Initiative
The Incentive will target junior exploration companies, commence on 1 July 2014, and be capped at $100 million.
Tasmanian Major Projects Approval Agency
To speed up regulatory approval and encourage private investment in the Tasmanian economy.
To commence 1 July 2014 in Launceston.
Small Business Advisory Program
Details of program not yet known
Small Business Support Line
Portfolio budget statements 2014-15: Industry portfolio (p54) funded until 15/16
Small Business access to government procurement
A new unit will be set up to provide specialist advice on contracts and to ensure small businesses are not disadvantaged as part of Commonwealth Departments tendering and procurement processes.
Small Business and Family Ombudsman$8m
A one stop shop for small business into the Commonwealth, a single entry point to provide an easy way to find out about services ad programmes.
Small Business protection$1.4m
Small businesses will get the same protections as consumers when it comes to unfair contracts imposed by big business. It will extend unfair contract relief from consumers to small business to deal with unfair terms in standard form contracts , which are presented by big business on a 'take it or leave it' basis, with little or no ability to vary the terms. The legislative reforms will make unfair terms in standard form contracts with small businesses void. This will help to provide a level playing field for small businesses and enhance the welfare of Australians by increasing small business certainty, confidence and productivity.
Tourism Demand-Driver Infrastructure Program
Support the states and territories to develop key tourism infrastructure to stimulate tourism demand in their states, territories, cities and regions. Further details not available at this stage.
Budget affirms government support for tourism
Australia-China Approved Destination Status (ADS) scheme
To further improve the visitor experiences of Chinese tourists. China is Australia’s biggest tourism market worth more than $4 billion annually.
Australia Week in China (AWIC)
To support the staging of the successful initiative again in 2016, the promotion of our tourism brand is a key component of AWIC.
Provides partial reimbursement for expenditure on eligible export promotion activities
Will deliver $200 million in cash capital to the Export Finance and Insurance Corporation to support small and medium size businesses to successfully grow their exports. This will reverse the previous Government’s decision announced in the 2012-13 Budget.
Infrastructure and Regional Development
The National Stronger Regions Fund$200m/year
Will invest $200M each year over five years in local capital works projects to improve local communities, for a total investment of $1B. From 2015, the fund will enable councils and community groups to apply for grants between $20,000 and $10M, to meet half the cost of community building projects. Funding priority will be given to disadvantaged regions with a higher than average unemployment rate.
Commitment to Regional Development Australia committeesThese continue including our Regional Development Australia - Tasmania committee
Helping small exporters deal with the cost of export fees and charges
The Government is helping small exporters deal with the cost of export fees and charges. Small exporters in the meat, dairy, fish, horticulture and grain industries may be eligible for the rebate. A rebate will be available in 2014–15 to cover 50 per cent of export registration charges up to a maximum of $5,000. For the remainder of 2014-15, the export sectors will work with the Department of Agriculture to review the export certification fees and charges, through existing Government-industry consultative committees. These committees will need to report about the sustainability and equity of fees and charges, and recommend a new fees schedule to begin 2015 – a fee schedule that everyone can agree on and that doesn’t disproportionately discriminate against new or small exporters. Minister Joyce said he was expecting the industry committees to recommend projects that will help improve market access for small exporters in their field.
Rural Research and Development for Profit
To support continued innovation in our agriculture, fisheries and forestry sectors. The Rural R&D for Profit Policy Initiative will fund research activities that focus on enhancing the profitability of our agricultural industries. "This initiative is part of the Government's Economic Action Strategy to build a strong, prosperous economy and a safe, secure Australia. “We know there is a strong link between R&D and agricultural productivity growth and recognise that it is a key driver to industry and farm gate profitability," Minister Joyce said. This research will focus on delivering cutting edge technologies, with an emphasis on making research accessible for farmers. Research must be practical and support our farmers and producers.
This initiative will be delivered through a competitive grants process. No other specific details at this stage.
Stronger biosecurity and quarantine system
To build a stronger biosecurity and quarantine system, to build on our existing preparedness and response capabilities as part of a national approach to biosecurity "This includes funding for improving preparedness and ensuring there are resources immediately available to respond to and reduce the impact of pest and disease incursions on producers and their livelihoods.”
Source: Ministerial press releases and budget papers all openly available on the internet.