There is a wide range of grants and financial help available for small businesses.
Applying for grants and financial help can be a competitive process.
Use this page to help you decide what form of assistance might suit you and your business.
What is a grant?
Government grants assist with the funding and support of specific projects in a business. Each grant has a certain purpose so it's important that it aligns with your business needs.
To receive a grant you have to go through an application process. Generally you'll need to:
- ensure you meet the eligibility criteria
- know exactly what you're applying for and why
- complete the grant application. This process varies in time and detail depending on what you're applying for.
If your application is successful, an assessment panel will decide how the grant is to be administered.
To check what opportunities are available, go to:
- Business.gov.au for a variety of grants and small business help
- Grant Connect for businesses mainly in the entrepreneurial, medical, environment, and community space
- the local council where your business is located for community grants and sponsorships.
Tax deductions for small business
You can claim a tax deduction for most business-related expenses. Keep a record of all your expenses and income throughout the financial year.
Expenses may include:
- business travel
- business equipment
- business repairs
- business maintenance
- staff wages
- rent for your business premises.
Tax offsets for small business
You may be eligible for a small business income tax offset if you're carrying on a small business as a sole trader, or you have a share of net small business income from a partnership or trust.
The small business income tax offset can reduce your tax bill by up to $1,000 each year.
If you're eligible, use the Small business income tax calculator to check:
- which portion of your income can be used for tax offset
- where to include the tax offset amounts in your tax return.
The calculator does not tell you how much tax offset you can claim. The Australian Tax Office will work this out when you submit your tax return.
Financial help is often targeted towards a particular purpose. For example, to support business expansion or develop employees’ skills.
Before applying for financial help it's important to check that:
- you meet the eligibility criteria
- the support will truly benefit your business.
Find the financial rebates, discounts and incentives you may be able to apply for.
Important things to remember
If you receive a grant or financial help, the funds should be spent as you outlined in your application. You need to be sure:
- you meet the eligibility requirements for the help you're applying for
- you know what the funds will be used for and how they'll be used
- a grant or financial help is the most appropriate solution for your business.