Job opportunities in Adelaide’s northern suburbs received a $10 million boost today through special grants to start or expand local businesses.
Guidelines released today outline how the $10 million Small Business Development Fund will support small businesses to grow and create multiple, ongoing jobs in northern Adelaide.
An initiative under the State Government’s Northern Economic Plan, the Fund will provide small businesses with financial support through two Grant programs, over three years.
A total of $4 million in Start-Up Business Grants worth up to $20,000 will assist entrepreneurship and new business establishment, while $6 million in Business Expansion Grants worth between $10,000 and $100,000 will support activities that grow small, established businesses.
The Grants are exclusively for businesses based in the local government areas of Playford, Salisbury and Port Adelaide Enfield. Applications open on July 1.
The Small Business Development Fund is an initiative under the Northern Economic Plan, which has been developed by the State Government in partnership with the Playford, Salisbury, and Port Adelaide Enfield Councils, along with industries, businesses, and the community.
The Northern Economic Plan is a blueprint for a prosperous northern Adelaide, focused on creating jobs and empowering local communities. More information about the Northern Economic Plan is available at: www.looknorth.com.au
Feedback from key stakeholders including the three councils, industry associations and unions was incorporated into the guidelines, which can be found here.
Quotes attributable to Small Business Minister Martin Hamilton-Smith
As the Minister for Small Business I am determined to support this sector to grow and create employment opportunities that will boost the local economy.
The $10 million Small Business Development fund demonstrates the State Government’s commitment to promoting northern Adelaide as a positive place to do business.
Quotes attributable to Employment Minister Kyam Maher
Small businesses are a focus of the Northern Economic Plan – the Small Business Development Fund supports small businesses to expand and employ more people.
With upcoming job losses in automotive manufacturing, it’s crucial we grow other areas of our economy – one of those areas is small business, and that’s what the small business development fund is designed to do.