Healthcare Grants
It is common knowledge that the healthcare sector is extremely vital to the overall wellbeing of our population. This is why the Australian government has allocated billions of dollars to support contributors in the healthcare industry. A wide range of assistance programs are offered by means of grants, funding programs, incentives, awards, and subsidies.
Healthcare grants are not necessarily restricted to businesses, other providers such as doctors, surgeons, nurses and associated professionals in the industry who are able to promote knowledge, skills and experience within the sector are also in a position to utilise these assistance programs. In this section, we will discuss some of these grants and businesses that are eligible to apply.
One of the Federal Government-funded grants provides researchers in the medical field with a funding of up to $1 million to handle medical projects that have the potential to create a positive impact on health care. To be eligible for this grant a business must:
- have an ABN
- be incorporated in Australia
- be a medical institute/university/commonwealth entity/a corporation (both businesses and not-for-profit organisations are eligible)
The minimum funding that can be claimed under this grant is $250,000 and the maximum is $1 million. The grant is designed to cover, up to 100% of the costs involved within the project and can be extended up to 1 year for execution from the grant agreement date.
Grants for Healthcare sector
Another grant funded by the Australian Government provides GPs (General Practitioners) with appropriate funding to continuously improve their practice and to provide quality health care to the people. To be eligible for this grant GPs must:
- meet the guidelines of ‘open practice’
- be registered or have applied for accreditation from the Royal Australian College of General Practitioners Standards
- maintain full liability insurance
The grant is aimed at supporting GPs to provide quality care and improve medical access to the patients.
There is one more grant provided by the Federal Government that provides eligible businesses with appropriate funding to nurture early health care and conduct research to create ready to implement plans capable of attracting further funds. To be able to apply for this grant, businesses must:
- have an ABN
- be registered for GST
- be incorporated in Australia
- be a medical institute/university/commonwealth entity/a corporation (both businesses and not-for-profit organisations are eligible)
Apart from the Federal Government, many State Governments also provide eligible medical businesses with appropriate grants to improve the quality of their services. One such State Government funded grant provides SMEs with $500 rebate to maintain workplace health and safety. To be eligible for this grant, businesses must be located in the state providing the grant and have no more than 20 employees.
Above mentioned are only some of the many grants that the federal and state governments are providing to support the growth of SMEs in the health care sector. If you wish to have more information about the grants that can help your business grow, call 1300-005-999 to speak to one of our advisors.
