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Beyond Bank offers launching pad for business start ups in Wagga Wagga

Announcement posted by Beyond Bank Australia 03 Mar 2015

2 March 2015
The Riverina’s 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 the Wagga region over the next four years - from Beyond Bank Australia

Entrepreneurs living in and around Wagga are invited to apply for Beyond Bank’s Community Entrepreneurs Program of grants, with recipients to be announced in mid-April.

Recognising that the region is a hotbed of innovative and creative business ideas, customer-owned Beyond Bank is supporting the economic contribution entrepreneurs make with grants of up to $20,000 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 those 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 a prime example of local entrepreneurship was the Coolamon Cheese Company, founded by nationally recognised Cheesemaker Barry Lillywhite, his son Anton Green, and Neil Druce. 

The trio has been working on their business idea since November 2011 and has now secured premises in the main street of Coolamon where they will start building a $1.34 million cheese factory in mid-2015. 

Mr Green welcomed Beyond Bank’s Community Entrepreneurs Program, saying support and financing was the biggest challenge that entrepreneurs face, including the Coolamon Cheese Company. 

Entrepreneurs are always looking for avenues to raise funds and any support you can get nowadays is a real bonus,” he said. 

“In a region like ours a new, non-traditional business can introduce a fresh new industry to a community as they develop new products and create new jobs, which is just what we plan to do.” 

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