Not-for-profit organisations that provide advice to small businesses will be able to apply for funding of $600,000 over three years through the Australian Small Business Advisory Services programme.
Successful applicants will receive funding of up to $200,000 per year over the three-year period through the ASBAS programme so small business owners have access to low cost, high quality advice.
The initiative is being framed as part of the government’s broader economic action strategy.
The funding is to be used to deliver advice around five key themes: funding avenues and financial analysis; building a business; making the most of talent and team; management capabilities; and digital engagement implementation.
The announcement from Small Business Minister Bruce Billson was made one day after the release of the government’s national industry, innovation and competitiveness agenda.
“Under the previous Labor government, 519,000 jobs were lost in small business,” Mr Billson said. “This is a statistic we’re keen to arrest through targeted programmes like ASBAS to improve the prospects of our small businesses and to help them innovate and become more productive.”
“Ensuring small businesses – whatever their stage of start-up or expansion – have access to professional and low cost advice is an important way to ensure success.”
Applications for the program close on November 12.