It’s our business to know the ins and outs of grants available to the fashion business, and how to write a successful application. In 12 years of operation, we have fielded plenty of questions. Here are the answers to the top 10 most frequently asked. We hope it helps make the funding options available to you, a little easier to access.
1: How likely am I to get a grant?
The government was serious about supporting the textiles, clothing and footwear industry in Australia so they earmarked special funding over a 10 year period. The TCF Small Business Program aims to transform business enterprise culture and still has two rounds of funding to go. If you can answer “Yes” to the following questions it may be worth your while to follow up and apply.
- Are you an Australian TCF designer or manufacturer?
- Do you have over $100,000 in turnover?
- Have you been in business for at least
- 12 months?
- Do you employ less than 20 people?
- Are most of your TCF goods made in Australia?
- Can you contribute at least 25% of
- the cost of your project?
- Have you NOT received funding from the TCF SIP or BIC schemes?
The government also supports SME businesses that want to export. The question to ask is: Are you marketing or promoting your TCF products, designs or trademark overseas?
Special grants for creative activities are available to fund productivity improvements through business planning, marketing, computer systems, business restructuring and other worthwhile projects, that you consider to be important.
2: What sort of projects are funded?
In the past; the TCF program has funded things like: marketing, enterprise management systems, CAD systems, new equipment and e-commerce systems. In the last round one of our clients received $27,810 for marketing and e-commerce, another received $23,000 to install a computer aided design system and another received the maximum grant of $50,000 for a computerized business system. You can check out the other projects funded on the government website. Search on: “TCF Grant Recipients, Round 8”.
3: How much and when do we receive it?
A maximum of $50,000 is available for each particular project. The applicant must make a contribution to the project of no less than 25%. Ausindustry releases TCF grant money in two stages: 80% shortly after the grant is approved with the balance paid after the final report is submitted at the end of your project.
4: How much will it cost to apply?
There is no application fee. You will need to spend time planning your project and writing the merit based application. Time and frustration can be saved if you engage a grant consultant however they might;
- Charge a fixed fee
- Require a minimum amount upfront
- Expect to get the work that the grant is funding
5: Can I do the application myself?
Yes, but keep in mind that many applicants need support in order to obtain it, simply because a high quality, well targeted, application has a greater probability of success.
Consultants will conduct interviews and process data for you so that your day to day operations can roll on as normal. In the end; the choice will be determined by your employee skill base and how much time you have up your sleeve to prepare a good application. A little patience is an advantage.
6: How long will the application take?
To do it yourself, expect to spend at least a week planning, writing and filling out the application; maybe less if you have previous experience or a natural talent for handling red tape. Consultants time will vary.
7: Is there a deadline for applications?
Yes. Round 9 of funding will open in early December 2013 and will close towards the last week of February 2014. Check the government website for updates.
8: Can I change my application?
No, you cannot change the application after the deadline but can make small modifications to your project, after approval, as long as it follows your project objectives. The supplier can be changed even after you have been given approval.
9: How long can I take to do my project?
You can take up to 12 months to do the work. If approved; the funding starts from the start of the next financial year. Round 9 funds will be available in July 2014.
10: Can I apply more than once?
Yes – this is possible if the applications are for different purposes and projects.
In fact, many of our TCF grant recipients have received multiple grants over the last eight years.
There are two key touchpoints for more information on grants programs.
One is business.gov.au, which has a Grants and Assistance Finder providing a listing of Australian, state and territory grants and assistance. Search by industry, or type of assistance being sought. http://www.business.gov.au/Grantfinder/Grantfinder.aspx.
The other is the Australian Government’s trade and investment development agency. This offers a range of programs and services to help new and established exporters with the export journey, including Export Market Development Grants (EMDG). http://www.austrade.gov.au/Assistance.
Stuart Smith and Robert Jones are senior grants consultants at Vebiz.