Under the Federal Government’s Entrepreneurs’ Program, eligible businesses can gain access to a business evaluation action plan written by an independent and skilled business advisor. The action plans are tailored to a business’ specific needs and informs business leaders about recommended strategies for improving business growth.
How does it work?
Once you have applied and your application has been approved, a skilled and experienced business advisor will attend your business to review and gather information about your operations. The business advisor then undertakes further research and analyses the information off-site including conducting a review of your financial statements for the previous three years. The business advisor then prepares a detailed action plan for your business.
The program also includes up to 12 months access to that business advisor who can assist you in implementing your tailored action plan. You may also be eligible for a business growth grant which provides financial assistance to your business to assist in implementation of the action plan.
Who is eligible?
Your business must:
1. Satisfy one of the following:
a) Be operating in one or more of the growth sectors which are:
- Advanced manufacturing;
Food and agribusiness;
Medical technologies and pharmaceuticals;
Mining equipment, technology and services; or
Oil, gas and energy resource.
b) Provide enabling technologies and services to one or more of the growth sectors;
c) Have the skills, ability, expertise or intellectual property to work in or with one or more of the growth sectors in the future; or
d) Be a tourism business operating in northern Australia.
2. Be solvent;
3. Have filed business activity statements in Australia showing ongoing trading in at least three successive years;
4. Have an annual turnover (or operating expenditure) within the current, or one of the last two financial years:
Between $1.5 million and $100 million, or
Between $750,000 and $100 million for applicants from remote Australia or northern Australia.
5. Not have received a business evaluation report, business evaluation action plan or a business review report in the last five years; and
6. Not be an individual, partnership, trust or commonwealth or state agency.
How Do I Apply?
You can lodge your application online and you will receive a response within four working days. The application takes approximately 15 minutes to complete. Click here to access the application online.
Our team at Burke & Associates Lawyers would be happy to assess your business’ eligibility and can assist in the application and, if successful, implementation process. Please contact Meghan Warren, Rosy Roberts or Stewart Davis of our office for more information.