Funding Sources for My Start-Up Business

With a start-up rate of 5.8%, the total number of new business entities in Australia reached almost 400,000 from the financial year 2014 to 2019. However, only a few start-ups survive the struggles associated with establishing the business. For a business to grow and continue in the industry, sufficient funding and the insurance industry’s provided security is needed.

CEO Audrey Bergen of Rapid Biz notes, “Start-ups often fail due to insufficient funding, running out of cash, and pricing and cost issues. As a solution, small businesses often secure funding either from the government or from their local banks.”


The following are only some of the sources where start-ups may secure their funding:



The Australian government supports businesses by improving commercialisation and giving grants for research and testing of models. It also provides access to a network of business experts and offers the assistance of facilitators.

Aside from financial grants, this program also includes learning events held online and in-person across Australia. Events may be in the form of workshops, masterclasses, site visits, panel discussions and mentoring, and introductory learning.


Start-ups can secure funding of up to $50,000 by partnering with the Commonwealth Scientific and Industrial Research Organization. This grant is for businesses with an annual turnover of less than AU$1.5 million over two financial years and still at the research and testing periods.


This government grant is for early-stage biomedical companies that commercialise health and medical research discoveries, which may be in the form of–but not limited to– therapeutic, medical, or pharmaceutical outcomes. This grant’s purpose is for the improvement of the health and well-being of Australians. Before a business is secured with this grant, investment proposals are thoroughly screened by three fund managers.


This funding is for small businesses and not-for-profits that are significantly affected by the COVID-19 pandemic. You can get up to $10,000 for employing companies and $3,000 for those that do not hire staff.


This funding, known as the Export Market Development Grants, is for Australian exporters. Those eligible for this funding from the government can get 50% off promotional expenses for a maximum of $150,000.

There is a separate funding for businesses that are based in Queensland and Melbourne.

Start-up businesses can generate revenue and create job opportunities, which helps fuel the country’s economic engine. It may be arduous to secure these grants due to the strenuous processing and the long list of requirements. It is such good news that companies like Progressive Care Solutions provide their services with assistance from experienced consultants in funding or grants for start-ups.

Aside from the abovementioned grants provided by the Australian government, start-ups can also secure funding from banks. To check on available grants, you may contact your local bank or visit their website.

How to Start a Social Impact Strategy for Your Business

Businesses and social responsibility used to be detached from each other. Historically, the latter was used by the former to improve public image and diminish risk. But recently, companies have discovered that programs designed for social welfare have other more lucrative benefits. These include revenue increase, creation of new markets, innovation, and higher retainment rate.

Now, how can you create a social impact strategy that will benefit the communities and your business? Here are some from the playbook of successful companies today:


Find a cause that has a natural relation to your industry and not just something that personally interests you. Try to explore your locale and other communities to see their struggles.

United Nation’s Sustainable Development Goals contains a 15-year plan for dealing with the planet’s most serious issues—from poverty to environmental destruction. It is essential to know that the UN has specifically asked businesses to help them eliminate these issues through corporate social responsibility, collaboration, and innovation.


After identifying the cause, you want to support, specify your goals related to social impact. These goals can fall under environment, education, health care, public safety, entrepreneurship, etc.

For example, a tech company may focus on innovation and entrepreneurship. They can fund inventions that promise to help improve the community or grant scholarships to eligible individuals who want to take up a tech-related course. Once you’ve identified your goals, you’ll have more direction.

This process requires a lot of research. Thankfully, there experienced consultants that guide you in identifying suitable social causes.


While the traditional purpose of business is to generate profits, it must also work for the greater good. You must know that the social and environmental model has shifted dramatically, which means consumers are expecting businesses to do more. These days, consumers prefer companies that have a robust set of values and driven to help the communities. Research shows that 72% of Australian shoppers prioritise brand behaviour when purchasing goods.

So, review the reason for the existence of your business and mix it with a social or environmental component.


Credit Capital finance expert, Alister Clare surmises, “It’s essential to be realistic with how much you can give to the community. Run an inventory of all your resources. These will include employees, products and services, facilities, vehicles, money allocated for donations, etc. Plan how you’re going to use these resources effectively.”

For example, if you’re a food company, try to ask the local farmers to supply you with fresh produce regularly. This way, you can provide more jobs and encourage appreciation of local produce.

Find the area where you have adequate resources to help and check if it’s suitable for your brand.


Choosing partners for a social impact program is equally as crucial as the cause. Find ways to involve the local government, non-government organisations, charities, schools, youth groups, etc. Partnerships increase reach and reduce cost. Furthermore, these are opportunities to create business connections.


The increasing inclination of consumers towards ethical behaviour should be a strong motivation for businesses to re-evaluate and re-calibrate their social impact strategies. For professional support in a rapidly changing marketplace, contact Progressive Care Solutions