Further grants helping Tasmania’s small businesses grow

A new round of grants for small businesses to make capital purchases that support their growth will be made available from next month under the Tasmanian Liberal Government’s 2030 Strong Plan for Tasmania’s Future. 

The Small Business Growth Strategy Grant Program supports our small businesses to grow, adapt and innovate through the purchasing of items. 

A second round of $1 million of funding has been made available following the success of the initial round. 

Round 2 of the Small Business Growth Strategy Grant Program will open in October 2024 and will provide grants of up to $10,000 to eligible small businesses for capital purchases such as new technology, small-scale manufacturing equipment, computers or electronic payment terminals.

Successful applicants will be required to contribute at least 30 per cent towards the total capital purchase cost.

Minister for Small Business and Consumer Affairs, Michael Ferguson, said the Tasmanian Liberal Government is backing our state’s small businesses, who are the backbone of our economy. 

“The resilience and perseverance of the small business community in Tasmania is truly a testament to their drive to succeed,” Minister Ferguson said. 

“Many Tasmanian businesses continue to experience cash-flow difficulties, as the result of working capital stress, or need assistance to diversify or change business operations. 

“We witnessed how successful Round One of this grant program was providing much-needed funding to 27 individual businesses and organisations such as chambers of commerce, peak industry bodies and regional tourism organisations.  

“All funded projects have commenced and as at 18 July 2024, $945,793 had been paid to the successful recipients. All of the funded 27 projects are due for completion by 30 September 2024.

“These grants demonstrate the benefits of our 2030 Strong Plan for Tasmania's Future, and are producing real and tangible outcomes for small businesses across Tasmania.”