Small businesses hoping to supply goods, services and works to the State Government could find the going easier soon with three new rounds of the Local Capability Fund (LCF) unveiled.
Announced by the Minister for State Development, Jobs and Trade, Roger Cook, the latest LCF rounds will see $2 million on the table for local small and medium enterprises (SMEs) to improve their capacity to supply the goods, services and works the Government needs as well as other major projects and important markets.
“Supporting local SMEs to remain competitive in bidding for Government contracts is crucial to supporting jobs and maintaining our capability across a range of industries,” Mr Cook said.
“SMEs make up at least 97 per cent of Western Australian businesses. They play an important role in strengthening the State’s supply chains and supporting the economic growth of Western Australia.”
He said the purpose of the LCF was to assist the SMEs with funding for activities such as planning, internal infrastructure, plant and equipment and training.
Mr Cook said the three new LCF rounds were:
Aboriginal Business Round in which businesses with majority Aboriginal ownership can receive grants of up to $50,000 to improve their capability and competitiveness to supply goods, services and works;
Supplying Key Major Projects Round which has grants of up to $50,000 to help SMEs improve their capability and capacity to supply to major State Government civil construction and infrastructure projects, including those listed on the Pipeline of Work website; and
National and International Standards Compliance Round which has grants of up to $20,000 to help SMEs with the costs of engaging external expertise to carry out implementation and third party certification of six specific national and international standards.
“The LCF has a proven track record of successfully helping SMEs to access the State Government’s estimated $30 billion per annum spend on goods, services and works for the community,” Mr Cook said.
“I encourage businesses to take this opportunity and apply.”
Through the LCF, more than 520 businesses have received total funding of $19 million, helping secure more than $736 million in contract awards.
More information about the LCF and details on how to submit an application are available on this PS News link.
