Opening doors for small business
A global bonus
Transition of South Australia’s small businesses towards niche, globally competitive opportunities will be accelerated.
South Australia’s 140,000 small businesses, each employing under 20 people, are an engine for job creation and a strong economy.
Our priority is to help our small businesses thrive on the global stage, with additional support from banks and market researchers, so that they, and South Australia, can grab opportunities for growth.
Small business can be kept in a great state by identifying local and global opportunities for them to access markets, and secure capital to accelerate business growth and employment across South Australia.
The ability to innovate and access capital with a focus on expansion and growth locally and internationally, is critical.
Without small business where would we be? Essential for job creation, they are at the core of every industry sector and are major contributors to the state’s economic, social and regional development.
Our long-term economic prosperity depends on small business keeping their doors open.
For small business to compete, in both the domestic and world market, they must have a focus on exports and innovation – capitalising on emerging opportunities, regardless of their location.
Greater access to capital and the ability to supply world markets with niche, high value products is important, if they are to sustain strong growth, whether that’s through a customer segment, an international partner, or a distribution channel.
Those with access to capital are more likely to be innovative, entrepreneurial, better equipped to compete globally, and are more likely to succeed.
External capital, to fund growth locally and internationally, will go to businesses that display strong financial management, leadership and awareness of financial implications when operating internationally.
Actioning a profitable future
Objectives for 2017
- Establish a new private sector financial market capacity to fund emerging South Australian businesses.
- Increase the number of small and medium size businesses by 5 per cent each.
- Ensure that our small business leaders have the capability to attract external capital.
- Increase the number of South Australian small businesses exporting by 10 per cent.
Taking the initiative
Unlocking Capital for Jobs Program, – a pilot program being developed in partnership with the major banks to make it easier for South Australian businesses to secure loans.
Micro Finance Fund – provides small grants to entrepreneurs, with a co-contribution from the entrepreneur, to support the translation of a good idea and business plan into a new high value business.
Venture Catalyst – an initiative of the state government and the University of South Australia which provides seed funding to students to translate ideas into business opportunities.
South East Asia Engagement Strategy – outlines how South Australian small businesses can maximise and capture opportunities presented by the growing South East Asian economies.
Make it a priority to get involved
Venture Catalyst Program
Learn about our Venture Catalyst Program, which assists South Australian university students and graduates to translate their ideas into business opportunities.
South Australian Early Commercialisation Fund’
The South Australian Early Commercialisation Fund (SAECF) announced on 18 November 2016 is a new SA State Government grant program established to assist South Australia’s entrepreneurs and innovative organisations looking to commercialise novel products and services.
The SAECF program replaces the SA Micro Finance Fund.
Unlocking Capital for Jobs Program
Find out how the Unlocking Capital for Jobs Program could help your business expand.
Export Partnership Program
Get help exporting with the Export Partnership Program.
Tuesday, 7 March 2017
Eleven northern Adelaide-based small businesses and start-ups will share in more than $430,000 of state government funding, creating 26 full time equivalent jobs along the way.