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Business Development Plan- Mentoring

Assistance up to $7,500 to engage a mentor to help implement a strategic business plan.

Program Overview

The Business Development Plan - Mentoring aims to provide experienced strategic advice to a board and/or CEO. Primarily, mentoring assists businesses in the implementation of a complex business plan.


Potential grant funding

50 per cent of total project cost up to $7,500  

Eligibility

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.

More eligibility criteria

To see if your program is eligible, contact a Business Development Manager through your local Victorian Government Business Office.

Program Guidelines

Eligible individual businesses can apply for a grant of 50 per cent of total project cost up to a maximum of $7,500.

A specialist consultant or appropriately qualified professional acts as a business mentor. The mentor will provide advice and guidance to help focus on strategic and management transition issues, including:

  • developing and implementing business goals
  • broadening the firm’s network, and
  • improving management skills and expertise at the management and/or board level.

Note: The mentoring process may require the mentor to be involved with the firm for a period of up to 12 months.  

Am I Eligible?

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 in 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:

  • retailers
  • 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.

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