How does the Economic Development Plan help Tasmanian businesses access finance?
The Economic Development Plan recognises that access to affordable finance continues to be an issue for Tasmanian businesses. It also recognises that Australia has well-developed financial institutions. The government’s business development services will improve the capacity of business, particularly small business, to successfully apply for finance. For more information on future business development services please click here.
The business development services will be complemented by a targeted grant program, Business Investment Boost (BIB). BIB will combine mentoring and investment facilitation services and cater for matching funds from participating businesses. Priority will be given to businesses in communities vulnerable to external shocks and industry restructuring.
The government will continue to consider direct assistance to lead projects or businesses that have the capacity to significantly impact on supply chains, investment and jobs in industries with a sustainable future or to smooth out the impact of crises. This function will continue to be provided by Tasmanian Development Board and will be governed by new Financial Assistance to Business Enterprises principles within the framework of the Economic Development Plan.
If you want more information, please contact Business Tasmania 1800 440 026 22 Elizabeth Street, Hobart TAS 7000;