Small Business Professional Services Grant
Until 31 December 2022, funding of up to $5,000 is available to help Small Business clients gain access to specialist third-party advice.
Rural West administer a Professional Services Fund available to Small Business clients that meet the eligibility requirements below.
These funds are intended to assist small business clients to access specialist third party advice (eligible professional services) when the inability to afford specialist advice is a barrier to recovery, or to resolve an issue that has been identified through the case management process.
Expenditure under the grant is capped at $5,000 plus GST per eligible client.
Eligible Client(s) includes the following:
- small business owners in drought-affected regional and rural areas facing financial hardship
- small regional business facing financial hardship due to COVID-19
- small regional business facing financial hardship due to bushfires
To be eligible to receive counselling, a small business must:
- employ 19 or fewer people
- be, in the opinion of the financial counsellor, experiencing, or at imminent risk of, financial hardship
- for drought affected clients – be located in a drought-affected rural area that is also defined as ‘MM3’ to ‘MM7’ on the Department of Health’s Modified Monash Model rurality classification
- be ineligible to access services under the existing RFCS program
Eligible professional services
Eligible professional services are defined as advice, services and activities directly related to business recovery and the long-term viability of the small business, including:
- financial advice (financial planning, credit advice, financial product advice etc.)—typically requiring the provider to hold an Australian Financial Services Licence or Australian Credit Licence
- specialist taxation, accounting, legal and business planning advice about:
- business structures and relationships, and business plans
- monitoring and reviewing business performance
- managing risk
- succession planning
- preparing for drought and natural disasters
- diversifying the business enterprise
- adding value to products and services produced by the business enterprise
- strategic marketing and communication advice
- workforce planning and work health and safety advice
- specialist training and study directly related to the core functions of the business.
Ineligible professional services
Ineligible professional services include advice, services and activities that form part of routine business management and operations, or advice, services and activities that sit outside of a commercial business operating environment (i.e. personal financial matters), including:
- servicing creditors or personal debts
- annual business tax or accounting services
- the purchase, hire or lease of physical goods and equipment
- travel costs and incidentals incurred by the client in the process of obtaining professional services
- the cost of marketing activities, advertising placements and marketing and communication production costs (i.e. graphic design, printing etc.).
Don’t wait until it is too late. Contact us today on 1800 612 004 or email [email protected].
This program is supported by the National Recovery and Resilience Agency, an Australian Government initiative.