In a significant boost for small enterprises in Tasmania, the state government has announced the second round of its Enabling Business Grant Program. This initiative aims to help local businesses access crucial capital to enhance productivity and overall operational effectiveness.
Michael Ferguson, Minister for Small Business and Consumer Affairs, emphasized the vital role small businesses play in driving the Tasmanian economy. He reiterated the government’s commitment to supporting these enterprises through financial assistance.
“The $1 million Enabling Business Grant Program will provide grants ranging from $2,500 to $10,000 for essential capital purchases, including machinery, electronic payment systems, and computers,” Minister Ferguson stated.
This new funding opportunity builds upon the success of the previous Small Business Growth Strategy Grant Program, which garnered strong interest from the business community.
Highlighting the positive impact of such initiatives, Mr. Ferguson noted, “By collaborating with our local businesses to invest in their growth, Tasmania has achieved one of the highest small business survival rates in Australia. Currently, 66.6% of the businesses that were operational in June 2020 are still active as of June 2024.”
The second round of the Enabling Business Grant Program is an integral component of the 2030 Strong Plan for Tasmania’s Future. It aims to foster growth, adaptability, and innovation among small businesses across the state.
“We acknowledge the essential contributions of our small businesses to the economy, which is why we are committed to launching this vital second round of funding,” Ferguson added.
The Tasmanian Liberal Government plans to continue supporting local enterprises, striving to create an environment conducive to starting, operating, and expanding businesses in Tasmania.
The Enabling Business Grant Program is set to open for applications on October 22, 2024. Interested businesses can find the guidelines for the program on the Business Tasmania website.
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