Up to $55,000 is available from HSCTP to provide Hazelwood supply chain companies with intensive support to plan for their future.
Hazelwood Supply Chain Transition Program (HSCTP)
The Hazelwood Supply Chain Transition Program (HSCTP) is a fund that will provide intensive tailored support to businesses in the Hazelwood supply chain to guide them through the transition period as Hazelwood power station and mine closes.
The Hazelwood Supply Chain Transition Program offers two separate stages of assistance:
- Business Transition Plan
- Business Transition Services and Merger Advisory Services
Background
The Hazelwood Supply Chain Transition Program (HSCTP) is part of the Victorian Government’s $40 million Latrobe Valley Economic Development Program (LVEDP) which targets the needs of the region and intensifies the government’s efforts to support its economic diversification, growth and resilience.
The HSCTP is focused on retaining industry capability and jobs in the Latrobe Valley that might otherwise be lost due to the Hazelwood closure.
Objectives
The Hazelwood Supply Chain Transition Program (HSCTP) will provide Latrobe Valley based Hazelwood supply chain companies with the support they need to plan for their future, including access to new sectors and markets.
This will be achieved by:
- Providing intensive support to equip supply chain companies with options and strategies for transition
- Offering assistance to implement key recommendations identified in their transition plan.
Funding
Funding will depend on your business needs, and can include:
- up to $5000 to review an existing Business Transition Plan
- up to $16,000 to develop a Business Transition Plan
- up to $10,000 for Merger Advisory Services
- up to $55,000 for Business Transition Services.
Eligible Projects
Activities funded under Business Transition Services include (but is not limited to):
- new product development
- business matching
- assistance with management skills
- sales and marketing strategies
- financial management
- market access activities.
Activities funded under Merger Advisory Services include (but is not limited to):
- business valuations
- asset valuations and registers
- due diligence
- leasehold premise obligations.
Eligible Applicants
Hazelwood Energy Supply Chain Companies
Supply chain companies must meet all the following criteria to be eligible for assistance under the Hazelwood Supply Chain Transition Program:
- Have an Australian Business Number (ABN)
- Be incorporated in Victoria
- Have been trading continuously for the past four years
- Be a Victorian based business, with at least 20 per cent of revenue derived from the Hazelwood Energy and Mine and their supply chain. Applicants may be required to provide evidence that confirms their revenue sources.
- Be based in Latrobe Valley (Latrobe, Wellington and Baw Baw) with businesses located in the broader Gippsland region to be considered on an exceptions basis.
Business Specialists
To be considered to become a Hazelwood Supply Chain Transition Program Business Specialist, applicants must:
- Have an Australian Business Number (ABN)
- Be registered for GST
- Be a Victorian-based business with a high level understanding of the energy industry, and the Latrobe Valley energy supply chain in particular. Unless the services offered by the applicant are unique and cannot be delivered by a Victorian-based Business Specialist.
- Demonstrate experience providing strategic analysis (including diagnostics) and planning for businesses in Victoria
- Be financially viable. Applications to become a Business Specialist must include audited final accounts for the previous three (3) Financial Years, plus Interim accounts if the final accounts are over six (6) months.
Timing
Applications close 30 June 2018.
