Supporting jobs and the economy

Small Business Financial Fitness Fund

This program helps businesses to build a greater understanding of their financial position and develop strategies to improve sustainability.

Noting the challenge of Territory small businesses being able to work both in and on their business, peak bodies will also be invited to submit a business case to deliver relevant financial training programs for small business as part of a competitive assessment process.

This may include accredited and non-accredited programs that target industries in need.

There are two components to this competitive grant program:

$1 million for peak industry bodies

Peak industry bodies were able to apply for grants of up to $250,000 to deliver a training program specific to their sector, with support from the Department of Industry, Tourism and Trade.

$1 million for individual Territory small businesses

  • Training providers were able to register to deliver financial and business sustainability training for small businesses.
  • Individual businesses will be able to directly apply to attend this training to improve their financial and business sustainability from 1 March 2021.
  • This may include accredited and non-accredited programs that target industries in need.
  • In addition, certain sectors may also attend training which may be delivered as part of the new peak industry body initiatives that will be developed through this program.
  • Open to all Territory small businesses defined as an actively trading business with an annual turnover of less than $10 million.

The Department of Industry, Tourism and Trade will send letters to those businesses pre-approved for this grant, noting the Territory small business will still need to make an application to receive the funding.

Read the terms and conditions.

How to apply

Applications have now closed for peak industry bodies and training providers to deliver training. The assessment panel will review applications and all applicants will be notified of the outcomes in late February.

Applications for individual businesses (individual grants) to attend training open on 1 March 2021.

Timeframes

DateActivity
Early December 2020 Publication of the terms and conditions
Training providers can register interest to carry out financial and business sustainability training.
Peak industry bodies submit EOI to deliver a training program specific to their sector (competitive grant round).
21 January 2021 Application close for peak bodies groups and training providers.
February 2021 Outcomes communicated to training providers and peak industry bodies.
1 March 2021 Applications open for individual businesses (individual grants) to attend training and can continue to be lodged on an ongoing basis.
Peak industry groups start delivering training program specific to their sector.

Contact

For more information, contact the Business Recovery team.