The Business Development Plan provides businesses with an opportunity to undertake a comprehensive strategic plan for future growth.
The Business Strategic Review helps individual businesses to identify operational goals.
Potential grant funding
Business Development Plan - 50 per cent of total project cost up to $7,500
Business Strategic Review - 75 per cent of total project cost up to $4,000
Applicants can apply for either one or both program streams.
To be considered for funding, applicants must be Victoria-based businesses, with at least two years' of trading history, be financially viable and be a tradable service.
To see if your program is eligible, contact a Business Development Manager through your local Victorian Government Business Office.
Business Development Plan
Eligible individual businesses can apply for a grant of 50 per cent of total project cost up to a maximum of $7,500.
The Business Development Plan will assist organisations to pinpoint where they want to go and how they are going to get there. The strategic nature of this assistance allows businesses to:
- identify and develop processes that will assist in reaching objectives
- identify further opportunities and plan for the future.
The Business Development Plan can be used by businesses wanting to develop their overall business strategy, or specific areas such as, but not limited to:
- environmental strategies
- export and marketing
- eBusiness development
- supply chain
- human resources and training strategies
- business mentoring.
Business Strategic Review
Eligible businesses can apply for a grant of 75 per cent of total project cost up to a maximum of $4,000.
The Business Strategic Review provides businesses with valuable insights into areas of their operations and is designed to:
- identify the immediate past and present position of a business
- illustrate strengths, weaknesses, opportunities and threats
- identify and prioritise areas that require attention or change.
This situational analysis can also be directed toward specific issues such as:
- export and marketing
- human resources
- training strategies
Outcomes can form the basis of a comprehensive Business Development Plan.
Note: Grow Your Business applicants may apply for a Business Strategic Review and a Business Development Plan in one application.
To be eligible for individual funding businesses should:
- be financially viable*
- be a tradeable service**
- be based in Victoria
- have two years trading history
- have a commitment to innovation and/or potential for export/import replacement
- have management strengths
- be committed to strategic planning and growth.
* Financial Viability
Grow Your Business guidelines state applicants should have turnover (sales) in excess of $500,000 to be eligible for Grow Your Business. If your business does not meet this criteria you must contact a Business Development Manager or the Grow Your Business program team who will determine if an application should proceed.
All information provided pertaining to a Grow Your Business application is treated as Commercial-in-Confidence.
** Tradeable Services
A business that falls under the definition of tradeable services include manufacturers (as indicated by the ANZSIC classification system) and service firms, showing they face import competition, are exporting or have the potential to export or internationalise their business operations in other ways.
Businesses that are not considered to be a Tradeable Service include but are not limited to:
- sporting clubs
- professional associations
- business/trader associations
- charities or not-for-profit groups
- registered training organisations (RTOs)
What you need to have before applying check list:Grow Your Business applicants are required to attach the following documentation to the application form as part of their submission:
- a copy of the successful consultant’s proposal
- correspondence from the applicant engaging the consultant to undertake the proposed work.
How to apply
Applications are submitted online. You can apply for one or both programs in the same application form.