0 Comments |  Business Grants |  PRINT | 

Federal budget 2013: SMEs to get $29.4 million boost to aid bids for government contracts

Tuesday, 14 May 2013 | By Cara Waters

Small and medium businesses vying for government services and tenders will receive $29.4 million in assistance under the budget.


In a budget which is mainly full of cuts, the assistance - dubbed the Enterprise Solutions Program - is aimed at helping “innovative” small and medium businesses.


The funding will be provided over five years with $2.3 million available next year, $7.7 million in 2014-2015, $10.2 million in 2015-2016 and $7.5 million in 2016-2017.


Under the program SMEs will be able to apply for grants of up to $100,000 for feasibility studies and up to $1 million for proof of concept.


The cash is targeted at helping SMEs overcome barriers and become more competitive in bids for government contracts.


“[It] will be provided to enterprises to develop innovative solutions for the future needs of government entities,” according to the budget papers.


The measure was prompted by recommendations by the non-government members of the Prime Minister’s Manufacturing Task Force.