- Government announces five new Local Capability Fund rounds for 2024/25
- More than $3 million offered to help boost capability and competitiveness
- Grants can help small businesses bid for Government and private sector contracts
Small and Medium Enterprises (SME) are being encouraged to apply for more than $3 million in grants through the Cook Government's Local Capability Fund (LCF).
Minister Assisting the Minister for State and Industry Development, Jobs and Trade Stephen Dawson said there are five rounds of grants being launched that would assist local SMEs with their bids for Government and private sector contracts.
The LCF helps recipients improve their capability, capacity and competitiveness to supply goods, services and works to the Government, major projects and other important markets.
The next five LCF rounds, totalling $3.1 million, were announced at the Albany Regional Business Engagement Forum (RBEF) today, with grants of up to $50,000 available.
There are four state-wide LCF rounds for Western Australian SMEs:
- supplying key projects - assisting SMEs to supply to key Government and private sector projects in priority sector markets;
- Aboriginal business - to assist majority Aboriginal owned businesses to supply goods, services and works to Government and the private sector;
- standards compliance - assisting with the costs of engaging external expertise to carry out implementation and third-party certification of seven specific national and international standards;
- figital transformation - providing initial support for eligible businesses to adopt and use digital technologies and data, whilst furthering the Government's understanding of SME needs in this area.
A fifth Regional Business Round is available exclusively for SMEs located across Western Australia's nine regions.
Through the LCF, more than 700 businesses have received total funding of $26.3 million, helping secure more than $1.25 billion in contract awards.
To find out more about the LCF and to submit an application, visit https://www.wa.gov.au/organisation/department-of-jobs-tourism-science-and-innovation/local-capability-fund
As stated by Minister Assisting the Minister for State and Industry Development, Jobs and Trade Stephen Dawson:
"The Cook Government is focused on assisting our small to medium businesses across WA to increase and improve their capabilities and competiveness.
"The Local Capability Fund is a key platform which can deliver funding that is tailored to a wide range of businesses and can assist in many different ways.
"The next five rounds will include both state-wide and a regional focus and will be directed towards digital transformation, supplying key projects, compliance and Aboriginal businesses.
"For those considering applying for the LCF, then get cracking and start your application to take advantage of what's on offer."
Comments attributed to local member Rebecca Stephens MLA:
"Through the LCF the Cook Government is generating important opportunities for regional businesses to get similar funding support as their countparts in the metropolitan area.
"In the last LCF round there was a range of Great Southern businesses that benefitted, including architects, transport, electrical and wineries.
"The LCF is a catalyst for change and has generated more than 2,300 employment opportunities across the State and close to 300 apprenticeships since it was established.
"It's an offer too good to ignore for regional businesses."
