City of Perth Matched Funding Grants

Transcription

1 1 City of Perth Matched Funding Grants

2 Grant objectives What are the Matched Funding Business Grants? The City of Perth recognises that small business makes a large contribution to the vibrancy and energy of a city. The ability to generate new ideas and turn those ideas in to profitable business ventures is a critical source of competitive advantage for Perth. In recognition of that, these Matched Funding Business Grants aim to stimulate and encourage diverse inner city commerce by supporting and rewarding local businesses. These grants may be provided up to a maximum of $20,000 on a dollar for dollar basis. The recipient business must demonstrate at least an equal financial investment for the specific business project. What are the objectives of this program? > Support effective implementation of the City s Economic Development Strategy. > Encourage and promote diverse business projects that improve Perth s competitive advantage and provide direct benefits to the community. > Activate underutilised areas of the city. > Support local businesses that demonstrate strong market potential and a sound business model. > Build, attract and retain a wide range of innovative businesses from key industries in the city. > Provide aesthetic improvements to the private realm to improve the streetscape and the overall desirability of the locality for commerce. What kinds of business projects are supported? Some Examples: > Activation of underutilised spaces such as within vacant upper floors, basements or laneways. > Capital investment on building fit out costs including restoration and/or compliance with building codes, regulations, safety and accessibility. > Aesthetic improvements such as facade upgrades to improve the streetscape. > Businesses may apply for a Matched Funding Business Grant for a combination of these items, or for other items that help to meet the objectives of the program

3 Eligibility What businesses are eligible to apply? The City of Perth is welcoming applications from any small business that is located within the City of Perth Local Government Area (LGA). To be considered for a grant, the applicant must: > Own or operate a small business (as defined by the Australian Taxation Office and the Australian Bureau of Statistics) that is based within the City of Perth; > Have a valid Australian Business Number; > Have the appropriate insurances and licences for business operation; and > Have a lease agreement for a space within the City of Perth Local Government Area, which extends at least two years from the time the application is submitted. City of Perth Local Government Area (LGA) Your business must be located within the City of Perth Local Government Area (Northbridge, West Perth, East Perth, CBD, or Crawley).

4 Not supported The City of Perth will not consider applications from: > Businesses that operate outside of the City of Perth Local Government Area; > Government departments or agencies; > Unincorporated associations; > Branches, franchisees or subsidiaries of larger companies; > Not-for-profit groups; > Online businesses or businesses operating from virtual/serviced offices; > Businesses operating from home; > Businesses that have an adverse effect on public health, safety, the environment, or heritage; > One-off events or annual projects such as recurring events, temporary or short-term projects; > Businesses proposing to purchase general operational equipment, consumables and/or standard office equipment; or > Any business which has received a City of Perth Matched Funding Business Grant over the past five (5) financial years. Note: Businesses that are receiving funding from the State and/or Federal Government are still eligible under this grants policy. Items not supported for grant funding: Grants will be provided for specific business projects and not to fund business overheads, general operating costs, staff wages, loan repayments or general operating equipment. Businesses may not claim the working time of staff employed by the business as a financial investment. Financial Viability: The financial viability of the business should not be dependent on approval of a grant application and the business must demonstrate the financial viability of the specific business project.

5 Payment terms Payment terms In order to receive the grant, all successful businesses must sign a letter of agreement that clearly details each of the approved expenditure items that are covered by the grant and agree to the following conditions: > All grant money must be spent between the date of the grant approval and 30 June > All successful businesses will be required to provide proof that the grant money was spent on approved items and that their own expenditure at least matches the grant funding provided by the City of Perth. > All successful businesses will be required to provide proof that the grant money was spent after the grant application was approved (not before). > All successful businesses will be required to meet the reporting requirements set out by the City of Perth (no more than three reports per project). > All successful businesses will be required to be available to meet with the City of Perth, with reasonable notice, to provide updates on the use of the grant money and the development of their business project. > Each successful business must acknowledge and promote the City of Perth s funding support for their business project. This may include the placement of City of Perth s corporate logo on promotional materials for the business project. > All successful businesses must allow the City of Perth to publicise information about their business in promotion of the grants, including photographs. Note: Reporting requirements and payment terms are to be negotiated with each successful applicant. In most cases grant funding should be provided in two installments of equal amount.

6 Assessment What are the assessment criteria? Applications for Matched Funding Business Grants will be assessed against the following criteria: Essential > The extent to which the project may contribute towards the achievement of the objectives of the Matched Funding Business Grants policy; > The submission of a detailed project plan and comprehensive business plan that includes business finances, demonstrating the financial viability of the project and evidence that an equal financial contribution to the project can be made by the applicant (the funds of which cannot be derived from other grants or sponsorships); Additional criteria include demonstration of at least one of the following: > The applicant s prior business success; > The business is an innovator in creating or introducing a new product or activity to the city; > The business creates or passes on knowledge, skills and/or capabilities to other Western Australians; > The proposed project actively engages the community; > The project demonstrates an environmentally responsible approach to business; > The business attracts a significantly greater number of people to the city, or retains people in the city for longer; and > The business contributes positively in other ways to the City of Perth.

7 1 APPLICATION FORMS Matched Funding Grants

8 Application Please complete:

9 Application Please Answer: 1. What is your normal or core business activity? [500 words max] 2. Aside from your core business, what other activities is your business involved in (if any)? [250 words max] 3. Explain how your business has demonstrated business success and/or strong market potential. [500 words max] 4. Provide details about the specific business project that you intend to use the Matched Funding Business Grant to partially fund. [500 words max.] Business Plan and financial details 5. You must also attach a detailed business plan and project plan including financial details or cash flow projections with justifications. Meeting the program objectives 6. How does your business project support the objectives of the Matched Funding Business Grants (listed on page 2)? [500 words max] 7. Explain how your business meets at least one of the following [500 words max.]: > Prior business success. > The business is an innovator in creating or introducing a new product or activity to the city. > The business creates or passes on knowledge, skills and/or capabilities to other Western Australians. > The proposed project actively engages the community. > The project demonstrates an environmentally responsible approach to business. > The business attracts a significantly greater number of people to the city, or retains people in the city for longer. > The business contributes positively in other ways to the City of Perth.

10 Final Checklist Your business must meet all of the criteria below to be eligible for a grant. [ ] My business is located within the City of Perth Local Government Area (Northbridge, West Perth, East Perth, CBD, or Crawley). [ ] My business has secured a commercial lease agreement at a property within the City of Perth for at least two years from the time the application is submitted. [ ] My business has a valid Australian Business Number (ABN). [ ] My proposal isn't from a Government department and agency, an unincorporated association, a not-for-profit, or a branch, franchise or subsidiary of a larger company. [ ] My business will make at least an equal financial contribution to this business project. (as the grant funding amount provided by the City of Perth). [ ] My business is defined as a small business as per the Australian Taxation Office (ATO) and the Australian Bureau of Statistics (ABS), which is a business employing less than 20 people and with an aggregated turnover less than $2 million per year. [ ] My business has the appropriate insurances, permits and licenses by relevant authorities. [ ] If successful, my business will use the grant money before 30 June [ ] I have attached a detailed business and project plan including a financial assessment. [ ] My proposal does not include financing for operational costs (e.g. salaries, utilities). [ ] My business project will not jeopardise public safety or damage the environment. [ ] I understand that if shortlisted I may be required to meet with the City of Perth. [ ] I understand that if successful, I will be required to report to the City of Perth to discuss the ongoing expenditure of the grant money and the business project. I may also be required to provide brief written updates to the City of Perth. Applicant Declaration I certify to the best of my knowledge that the statements made in this application are true. I understand that should this application be accepted, I would be required to accept the conditions of the grant. I acknowledge that the City of Perth s acceptance or refusal of this grant application is final and is not subject to an appeal process. Name: Position: Signature: Date:

11 Submit Submit the completed application, marked Confidential to: Economic Development Unit City of Perth G.P.O. Box C120, Perth Western Australia 6839 or via to Businesses must also submit a copy of a business and project plan including financial assessment with their application. For templates and business planning tools visit Deadline: 5pm Friday 31 July, 2015 Contact Have a question or need more information? Please call the City of Perth Economic Development Unit on (08) or ecodev@cityofperth.wa.gov.au.