Small and medium manufacturing units and retail businesses are the backbone of the Australian economy. Government realizes this fact and provides monetary support to eligible businesses in diverse industries to help them survive and grow. There are a lots of grants available amounting to billions of dollars at federal, state, and local levels for a wide range of industries. Let us find out about some of such industries supported by the government right now.
Tourism is a huge industry in Australia providing direct or indirect employment to millions of Australians. It has been badly affected in the recent past because of the bush-fire and later, due to the Coronavirus pandemic. Lockdowns and the restrictions imposed by the authorities in the country have caused great losses to those involved with tourism industry. The Australian government is helping such individuals and businesses through grants and other kinds of assistance to bring tourism industry back on its feet.
Manufacturing industry is the backbone of the Australian economy as it helps in generating billions of dollars in revenue for the government. The government provides help and assistance to manufacturing industry by reducing tariffs on imported goods, awarding tax concessions to domestic manufacturers, as well as in form of grants for eligible manufacturers. According to an estimate, manufacturing industry receives nearly 77% of the total government support in terms of grants and financial assistance.
One industry that has been adversely affected by Coronavirus pandemic is the aviation industry in Australia. With severe restrictions in place because of Covid-19, nearly all airlines in Australia have suffered huge monetary losses. It has become nearly impossible for these companies to survive. This is the reason why Government is now providing the financial support needed for the aviation industry to maintain minimum connectivity necessary to help people travel across the country and outside as well. This support has been critical in ensuring the survival of the aviation industry.
Retail and small businesses
Retail and small businesses is another industry that is heavily supported by the government in Australia. Small businesses generate employment and also contribute strongly in the GDP of the country. This is the reason why the government supports retail and small businesses through its various grant schemes. Government also makes available training and advice for eligible businesses to help them grow and tap their potential in overseas markets.
Entrepreneur support programs
Realizing the importance of startups and their potential in contributing to the economy, the Australian government stands solidly behind entrepreneurs. There is help and support available to start a new business and also to grow and take your business to the market place. Help for an entrepreneur is available in many different ways including grants to expert advice to training programs in an attempt to help increase their chances of success.
If you have any queries or want to know whether there is help available for your industry, please feel free to contact any of our advisors at the number mentioned below.