Business Grants

Business Grants - OPENING 29 SEPTEMBER 2021. 

If you have any queries about the application process and requirements, check out the FAQs or contact the Town's Economic Development team on 9311 8111 or business@vicpark.wa.gov.au.  

 

2021/22 Category: Economic Development Grants

Economic Development Grants support projects, activities and initiatives developed by the local business community that will benefit the Town of Victoria Park local economy. Initiatives must provide a benefit to a group of businesses, an industry sector or the broader local economy.

Maximum value: $10,000 (including GST).  

 

There is one funding round planned for the 2020/21 financial year. To ensure applications can be processed fairly and efficiently, only complete submissions will be accepted for assessment.

If you have any queries about the application process and requirements, check out the FAQs below, speak with your local Place Leader, or contact the Town's Economic Development team on 9311 8111 or business@vicpark.wa.gov.au.

Apply here

 

Frequently Asked Questions

What kind of initiatives can I apply for?

Initiatives that might be suitable for an Economic Development Grant include:

  • Innovative projects that assist local businesses by improving the way they do business 
  • Networking or training events for local businesses
  • Activations that have a broader benefit to more than one business eg. parklet collaborations, shopfront activations (Please note, these can't just be of benefit to your business.)
  • Business collaborations to encourage visitation and engagement
  • Local tours or destination marketing initiatives that promote businesses

How will my application be assessed?

Economic Development Grants are assessed by a panel on a competitive basis. Firstly, you must meet all eligibility requirements to be considered. The panel members will then score your application against the assessment criteria and these scores will be weighted. It is not guaranteed that all complete applications will be successful due to limited funds being available. 

What are the eligibility criteria?

  • Must be a small business, medium business, incorporated association or individual/group under an auspice organisation (see Business Grants Management Practice for definition).
  • The principal place of trading or location of the initiative must be within the Town of Victoria Park.
  • Your initiative is not recurrent operational funding (see Policy 117 Business Grants for more details). 
  • Hold public liability insurance of minimum $10 million.
  • Own or have permission to use any intellectual property associated with the initiative.
  • Have no outstanding debt to the Town (this does not include payment plans or agreements).
  • Have satisfactorily acquitted any grants previously awarded by the Town of Victoria Park.

 

What are the assessment criteria?

1. The proposed project, activity or program occurs within, or substantially benefits economic development outcomes within, the Town of Victoria Park local government area

Criteria 1 is worth 20% 

2. The applicant can demonstrate the feasibility of the proposed project, activity or program and their capability to successfully deliver the proposed project, activity or program; and

The proposed project, activity or program is a discrete piece of work and is not, in the opinion of the Town of the Victoria Park, a standard operational expense.

Criteria 2 is worth 20%  

3. The proposed project, activity or program will deliver at least one substantial broad benefit to the local economy, including:

     a) Substantial improvements to the amenity of the public realm that will attract visitors to the area;

     b) Substantial activation of underutilised or vacant spaces that will attract visitors or investment to the area;

     c) Provide a unique and visible retail or service offering that will attract visitors to the Town of Victoria Park;

     d) Foster networking and collaboration between local businesses;

     e) Provide unique, regionally significant promotion, development or investment for the Town of Victoria Park’s local economy; and/or

     f) Foster innovation industries or innovative business practices in the Town of Victoria Park’s local economy. 

Criteria 3 is worth 60%

All three criteria must be satisfied for the application to be considered for assessment, however not all of 3a to 3f need to be satisfied (one is sufficient).

Do I have to address all of the broad benefits to the local economy listed in the assessment criteria?

No - some initiatives will provide a broad range of benefits and some will deliver significant outcomes for only one or two. Your application will not be penalised if it does not address all of the benefits. Focus on the ones that have the most relevance to your project goals and outcomes.

Can I apply for an initiative that has a value greater than $10,000?

Yes - the total cost of your project can be greater than $10,000 however no more than $10,000 (including GST) of the cost can be awarded as an Economic Development Grant. You will need to have alternative funding arrangements (including self-funding) for the balance of the initiative. 

Do I have to supply quotes to support my proposal?

Yes - you will need to provide quotes as part of the application process. The number of quotes required will depend on the value of the items:

  • $1,000 or less - one written or two verbal quotes
  • $1,001 to $4,999 - three quotes including at least one written quote
  • $5,000 or more - three written quotes

The quotes should include the following information:

  • Name, location and ABN of supplier;
  • Itemised list detailing what will be supplied;
  • Price including GST details; and
  • URL, if using an online shopping portal. 

Can I apply for an Economic Development Grant retrospectively?

No- you can only apply for a new initiative that is yet to take place.