Cradle Coast Authority (CCA), Northern Tasmania Development Corporation, Southern Tasmanian Councils Authority and RDA Tasmania have developed a proposal for a grants program that supports government co-investment in expansion of enterprises where there are clearly new employment outcomes.
The program will provide opportunity for growth and development, generate more sustainable employment opportunities, particularly for people and sectors which have had employment negatively impacted by COVID-19, including our vital and hard-hit tourism, hospitality, entertainment and events industries.
The Small Business Co-Investment Fund will allow businesses and not-for-profits to apply for funding through a competitive process, with applications assessed against a number of criteria, and applicants required to match the Government contribution. This kind of co-investment scheme is a proven way of stimulating economic growth that is relevant, place-based and low risk for government.
CCA has also identified a gap in funding opportunities for new and small businesses and believes there is need to offer grants of a smaller amount (up to $10,000) to businesses that have progressed through the Cradle Coast Enterprize program, or a program of similar prestige i.e. Start-up Tas.
- Diversify regional economies.
- Stimulate long term growth.
- Deliver sustainable employment.
- Enable applicants to enter new markets and sectors.
- Attract and retain a working age population within the Cradle Coast region.