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Beyond Bank offers cash launch pad for business start ups

Announcement posted by Beyond Bank Australia 03 Mar 2015

2 March 2015
Regional South Australian entrepreneurs and business start ups are set to get a cash injection with the launch of a new $500,000 grants program – including $120,000 for northern SA over the next four years - from Beyond Bank Australia. 

Applications for grants are now open (from lunchtime Monday 2 March) to entrepreneurs living in Port Augusta, Whyalla, Port Lincoln and Roxby Downs and surrounds. 

Recognising that SA is a hotbed of innovative and creative business ideas, the customer-owned Beyond Bank is supporting the economic contribution entrepreneurs make with a grant program to germinate the seed of a new business idea into a start up, or to propel a business beyond the start up phase. The grants will be funded via the bank’s charitable arm, the Beyond Bank Foundation, which is committed to strengthening the fabric of local communities. 

Beyond Bank Community Development General Manager Peter Rutter says applicants should nominate the level of funding they need and demonstrate the community impact of their business idea – such as the potential for job creation and local economic benefit. 

“We see time and again the biggest challenge entrepreneurs face is access to funding and support to help them grow their idea, either at the feasibility or planning level, or to secure funds in the start-up phase as expenses start to mount,” Mr Rutter said. 

“As well as providing funding and banking support, Beyond Bank is also working with locals who provide support to entrepreneurs such as shared workspaces, crowdfunding, training, education and local government initiatives. 

“We recognise it isn’t just about the money – and that helping provide access to support can really fast track development so that ultimately the business has a greater chance of succeeding.” 

Mr Rutter said SA-born and bred entrepreneur Anthony Kittel, who grew up in Port Augusta and first worked at BHP in Whyalla, was a perfect example of entrepreneurial success. 

Mr Kittel’s launch of REDARC Electronics, an advanced manufacturer, which researches, designs and manufactures a range of innovative electronic products and technologies for the 4WD, recreational vehicle, trucking and mining industries, has earned him the EY Entrepreneur of The Year (central region technology category) in 2013 and the 2014 Telstra Australian Business of the Year. 

“The entrepreneurial spirit is thriving in SA – we know from the business community that there is strong creative thinking and savviness in finding niches in the marketplace and we need to support these types of initiatives,” Mr Kittel said. 

“Providing support for budding entrepreneurs is critical, both in terms of assisting with making their dreams a reality, but also to the local community in terms of potential new jobs, investment and economic development.  

“I welcome Beyond Bank’s move to support entrepreneurs – it has recognised the important role it can play in this area, and I applaud their commitment to investing back into the communities that are supporting their business.”

To apply for a Community Entrepreneur Grant and for further information about the Program visit the Beyond Bank website.