Up to $100,000 is available from the Small Business Development Fund to help small business grow and create jobs in the north.
Small Business Development Fund
The Small Business Development Fund has been established to help small businesses in northern Adelaide to grow and create sustainable jobs.
The Fund will give small businesses and start-ups exclusively in the Playford, Port Adelaide Enfield and Salisbury council areas with the opportunity to apply for financial support through two dedicated Grant programs over three years.
The Small Business Development Fund (SBDF) aims to create jobs in northern Adelaide by helping to fund the growth plans of small businesses.
The Small Business Development Fund (SBDF) has two components:
Start Up Business Grant Program – $4 million allocated over three years to 30 June 2019 to support the creation of up to 400 new small businesses in northern Adelaide. Grants of up to $20,000 are available on a competitive basis to people starting a new business or purchasing an existing business in northern Adelaide, where the person:
- has not operated a business in the past 12 months;
- can contribute 1:1 matching funds towards the start up costs or purchase price
- completes an approved business fundamentals training course.
Business Expansion Grant Program – $6 million allocated over three years to 30 June 2019 to support business expansion and job creation in northern Adelaide. Grants between $10,000 and $100,000 are available on a competitive basis to help fund business expansion that will create multiple direct ongoing jobs, on a 1:1 matched funding basis.
The SBDF will be delivered by the Department of State Development. Funding for this program commences on 1 July 2016. The Department of State Development may reallocate some or all of the funding between the programs within the SBDF at its discretion, at any time during the program’s operation
To be eligible to apply for assistance under all SBDF programs, an applicant must:
- Be a small business, defined as employing less than 20 full-time equivalent staff
- Not be majority owned by a business entity which employs more than 20 full-time equivalent staf
- Carry on the majority of its trading activity and have its trading premises located in the local government areas of City of Playford, City of Salisbury or City of Port Adelaide Enfield
- Be able to enter into a legally binding funding agreement with the South Australian Government
- Be willing to provide information and data, including financial information as required
- Commit to the required financial co-contribution.
In addition, to be eligible for Business Expansion Grants, an applicant must also:
- Have been in operation for more than one full financial year
- Have an ABN and be registered for GST.
Applications close 30 June 2019.