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New Infrastructure and Project Financing Agency

The Infrastructure and Project Financing Agency (IPFA) is being established as a small executive agency within the Prime Minister’s portfolio. It will assist ministers and agencies to develop and assess financing options and to broker financing arrangements for transformative infrastructure projects. By engaging early on project development and exploring all innovative funding and financing options available, the IPFA will improve project outcomes for end users and maximise the value for money for Australian tax payers.

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Small Business Week Free Webinars

Your first couple of years as a business owner are the hardest. Even when your passion for what your business is about seems unstoppable, if you’ve never run a business before or haven’t had to deal with staff, budgets, insurances, etc., the learning curve can flip you right upside down.

During 2017 Queensland Small Business Week the Queensland Government’s Office of Small Business will be hosting a series of webinars designed to boost your confidence and capability for success. You can register to attend all or just one of the sessions – whatever suits your interest and schedule!

Monday, 15 May 12:00pm William Gooderson, Crowe Horwath Business Basics REGISTER
Tuesday, 16 May 12:00pm Cathryn Warburton, Acacia Law IP for Small Business REGISTER
Wednesday, 17 May 12:00pm John Mathew, Impact Innovation Group Crowdfunding – Understand the Process REGISTER
Thursday, 18 May 12:00pm Megan Taylor, Kapow Marketing Interactive Marketing for Small Business REGISTER
Friday, 19 May 12:00pm Maree Franettovich, Central Queensland University Business Models and Testing your Ideas REGISTER

 

Supporting small business set-up

STARTING a small business in Australia is about to get even simpler, Small Business Minister Michael McCormack says, today releasing the Government’s response to the final report of the Productivity Commission’s inquiry into Business Set-up, Transfer and Closure.

The Government supported the vast majority of the report’s recommendations which were designed to address barriers to business entries and exits to drive efficiency and economic growth.

“The Productivity Commission report says it is simple to start a business in Australia and our rate of start-ups compares favourably by world standards – this is fantastic news,” Mr McCormack said.

Mr McCormack said the Government has already initiated reforms in line with the Productivity Commission’s recommendations.

“The Government understands small business and we have already acted to implement reforms to help the sector grow and create jobs,” Mr McCormack said.

“Our FinTech statement and the response to the Financial System Inquiry highlight some of the work that is already underway.

“These programmes, as well as the Government’s cuts to company tax and our small business policy agenda, show the Turnbull-Joyce Government is the Government for small business.

“We are continuing that work to back Australia’s small businesses to grow, innovate and – most importantly – create more jobs.”

In responding to this Inquiry, the Government is committed to:

  • creating the framework for entrepreneurial activity to thrive, including through reducing the stigma of business failure; and
  • fostering agile, innovative businesses by eliminating unnecessary regulation and reducing regulatory complexity.

The report is available at the Productivity Commission website.

The full response is available at the Treasury website.

You can find out more about the Government’s small business policies by searching ‘small business’ or visiting the small business webpage.

2017 Priming Grants

The purpose of the Priming Grants is to enhance collaboration specifically between Australian small to medium sized enterprises (SMEs) and researchers with SMEs and researchers in 17 priority economies. Priming Grants encourage translational activities, end use development and commercialisation outcomes. They do not support research only projects.

The program only supports Researcher-SME collaborations and does not support SME-SME or Researcher-Researcher collaborations. Details here.

Priming Grants are intended to stimulate the formation of joint Australian-Partner research and innovation by reducing the financial risk on both sides to enter into a collaboration proposal. Priming Grants therefore should not be regarded as simply travel grants, they have specific intent and outcomes.

The grants will support Australian SMEs and researchers to:

  • enable initial exploratory partner meetings to take place
  • undertake consortium meetings (travel-related costs), assistance with minor project expenses; and /or costs associated with establishing formal relationships (legal agreements) or funding applications for joint activities.
  • support potential SME-researcher partnerships in exploring the viability of an intended research and development (R&D) collaboration or technology solution
  • explore avenues for follow-on project seed‑funding

Priming Grants are not designed to fund ongoing research costs, or to support existing collaborative activities.

Your proposed partner should not be part of an exisiting research or commercial relationship but a new opportunity you are seeking to explore.

Priming grants are not intended for use to support research projects on SMEs, commercialisation or entrepreneurial activities. They are solely intended to promote translational activities between entities which lead to new innovations in products or services.

A summary schematic of how Priming Grants operate is found here.

The Priming Grant funding may be matched by the overseas partners although this is not obligatory.

Priming Grants offer total funding of $7,000 AUD/applicant to eligible SME-researcher partnerships for activities preparing cooperative, international R&D projects or facilitating technology solutions. See the call timetable here.

Priming Grants are only open to Australian-based Researchers and Australian-based SMEs who must be the primary applicants. No applications will be received from international partners.

SME classifications for each priority economy are found here.

Full details of the conditions are contained within the Priming Grant Guidelines.

Visit the webpage directly here.

Western Queensland road upgrades to support tourism

The Queensland Government has approved almost $6 million will be spent improving transport and road access in Western Queensland to support drive tourism.

Some of the projects include:

  • Winton Shire Council Age of Dinosaur Road Pave and Seal (Stage 1 – 3.5km)
  • Winton Shire Council Age of Dinosaur Road Pave and Seal (Stage 2 – 3.7km)
  • Diamantina Shire Council Birdsville – Windorah Road Pave and Seal
  • Diamantina Shire Council Big Red Road – Overtaking Opportunity
  • Blackall – Tambo Regional Council Blackall Aquatic Centre Car Park
  • Blackall – Tambo Regional Council Qantas Crash Site Access Road Pave and Seal
  • Blackall – Tambo Regional Council Tambo Airfield Road Access Pave and Seal
  • Longreach Regional Council River Farms Road Pave and Seal
  • Barcaldine Regional Council Regional Tourism Signage
  • Barcaldine Regional Council Parking Improvements on Capricorn Highway (Alpha – Barcaldine) at Oak Street

The Projects include a 50/50 funding contribution from the respective Local Government.

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