When starting up a new business, one of the key issues is funding. How are you going to get enough money together to not only start your business, but ensure you have enough cash flow for the first year or two until it is profitable?
If you’re in New South Wales, there is support available to help high-potential new businesses and partnerships through the NSW Governments grants program.
NSW Grants and help for promising start-ups and small busines
There are many types of grants available for start-ups to help prove viability, access education or advance your small business.
Minimum Viable Product Grants are for promising start-ups that are not yet generating revenue. Grants of up to $25,000 are available to technology start-ups that are not yet generating revenue. The grants are designed to help achieve market validation of a scalable technology solution and start getting customers and sales.
Building Partnership Grants are for start-ups that are already revenue generating, or small to medium enterprises. A grant of up to $100,000 can be put towards expanding and innovative product or solution, acquiring a major customer, scaling up or building access to a new market.
Regional Start-ups that are recipients for the minimum viable product grants are also eligible to for a $2000 travel stipend to help with travel cost associated with innovation related purposes.
Women in Business NSW is a way for women living or working in New South Wales to access a fully subsidised online program to help them establish a new small business or consolidate an existing small business. You need to be female, living or working in NSW and own or be looking to start a business.
Other ways to get help for start-ups
Start-ups often need more than money. Success depends on good business modelling and a sound and tested product to meet a market gap. Getting the right guidance is critical.
That’s why there are also government supported places like the Sydney Start-up Hub, Local Innovation Network, and the Sydney School of Entrepreneurship.