Small Business Development and Diversification Grants Program in Australia

Deadline: 31-Jan-23

Applications are now open for the Small Business Development and Diversification (SBDD) grants program.

Grants provided through the Small Business Development and Diversification (SBDD) program will help businesses remain open and invest in job creation by diversifying, expanding or being innovative.

Funding Information

• This $15 million Western Australian Government scheme will provide grants to eligible businesses, with the funds delivered through two grant rounds of $7.5 million each.

Eligibility Criteria

• The SBDD grant is not restricted to businesses in the designated native forest area. Any Western Australian business can apply as long as they meet the criteria.
  • Demonstrated reliance on the WA native forestry industry or reliance on native forestry or native forest products.
  • The accepted evidence is:
    • full financials for 2020-21 and/or 2021-22 financial years, and
    • a list of native forest suppliers and/or customers to evidence demonstrated reliance.
  • An eligible business must be able to prove that 50 per cent of its turnover is derived from native forestry or 50 per cent of a business model is focused on servicing the industry.
  • The Department of Jobs, Tourism, Science and Innovation (JTSI) and the South West Development Commission (SWDC) are working together to deliver this program.
  • The Native Forest Transition team can provide advice and some guidance, but to determine if your business meets the 50 per cent threshold, they recommend you work with your accountant. If you’d like to speak to a member of the team to discuss the threshold.
  • Your business must have an Australian Company Number (ACN) or an Australian Business Number (ABN).
    • Accepted evidence is:
      • a copy of your ACN or ABN.
  • Your business must be a valid legal entity that can enter into a legally binding funding agreement with the WA Government.
    • Accepted evidence is:
      • a copy of your ACN or ABN.
  • Your business must be a solvent Western Australian-based businesses or organisation.
  • Accepted Evidence is:
    • full financials for the 2021-2022 financial year, and
    • a third-party endorsement of business accounts from a certified accountant, certified financial advisor or certified tax expert or a statement of compliance.

Ineligible Criteria

• Local, state, or federal government authorities/agencies.
• Government Trading Enterprises (GTEs).
• Individuals (without an ABN).
• Trusts.
• Any business that has received a payment from the Native Forestry Transition – Business Transition Programs of less than $400,000 can apply to this program. If successful, the amount of the payment you have already received will be deducted from the approved allocation from the SBDD grant.

For more information, visit https://www.wa.gov.au/organisation/department-of-jobs-tourism-science-and-innovation/native-forest-transition-small-business-development-and-diversification-grants