A new state government grants recognises that whilst many small businesses have survived covid lockdowns they still have lingering needs and require further assistance to ensure:-

• Profitability
• Sufficient cash flow
• Have greater insight over their business
• Better plan for the future (and do so in light of new business norms and changing customer behaviour).

To enable and encourage this, a Specialist Advice Pathways Program grant of $2,000 will be paid to enable the receipt of qualified professional support.

So what are the qualifying criteria to receive the grant?

• Be a company, trust (with a corporate trustee), partnership or individual.
• Have held an ABN at 1^st July 2020.
• Being registered as an employer with Worksafe Victoria – that is have a WorkCover policy.
• Have between 1 and 19 full time equivalent employees (presumably at the time of application).

Sole traders and partnerships that don’t employ anyone are not eligible nor are trusts where an individual or individuals are trustees.

Isn’t this great – your business might qualify to receive $2,000 of funding for one or more of these fundamentally key activities:-

1. Advice and analysis regarding the management of cash flow, preparation or cash flow budgets and projections
2. Profitability analysis and formulation of financial management and/or operational business strategies
3. Strategic analysis to revise business planning and/or governance arrangements
4. Advice regarding the management of debts and liabilities
5. Advice and/or representation regarding commercial agreement contract terms (i.e. commercial leases or commercial supply contracts).

So who can provide these services?

We can (except the last which is legal)!  A service provider needs to be a registered:-

• Accountant / tax agent
• Book-keeper
• Lawyer

As such, business coaches are excluded.

So how do you apply for the grant?

Unlike past government grants, we, as the qualified service provider, can’t apply on your behalf.

One must apply by 30^th September – but like with past grants, applications will close earlier if the allocated funds are exhausted before then.

Applications will be assessed with a confirming approval email to be sent by the end of October.

It is important that we be involved with this process as:-

• It requires the ABN Registry to be correct for which we will need to check and possibly update (noting that with the ABN system being introduced in 2000, the registry appeared somewhere in the late 2000’s and many not have been updated)
• As the Qualified Service Provider, we need to prepare a service agreement. That agreement either needs to be attached to the application or its key contents set out in the application.

You will need to upload at least one identifying document.  You will also need to include my professional membership details.

Other matters of note

• The services must be delivered by the end of January 2023.
• You will need to complete a statutory declaration as to the services provided.
• Payment is made in 2 lots – $1,000 within 20 days of acknowledging the successful application email and within 20 days of completing the final claim form.
• You will also be requested to complete a short survey.
• You will also be required to attest that all industrial relations obligations are being met – which include having evidence of having supplied all employers with the 11 national employment standards.

So what will be the cost of the services I require?

Well that will depend on:-

• How many of the first 4 stated services you require and
• The complexity of your business and
• The quality of your financial information.

We are building a matrix to determine the investment into attending to any of the qualifying services and provide you with the required service agreement.

Where do I register?

https://businessvic.secure.force.com/GrantsPortalLogin

Next steps

Alex Stewart is contacting existing clients to discuss their situation and how they will benefit from this grant.  Unlike past state grants, Sam Della Bosca can’t apply on your behalf but she will guide applicants through the process.

By way of closing comment, please don’t let this opportunity slip by.  Every small business should undertake these qualifying activities.  And now that the troubling days of 2020 and 2021 are behind us, this gives you the chance to undertake proper planning for the future.