Banking on a bright idea

Australia’s army of budding entrepreneurs is being encouraged to apply for grants of up to $50,000 to kick-start their business ideas.

Beyond Bank Australia has released a total of $250,000 through its unique Community Entrepreneur Program which aims to identify and support emerging innovators around the nation. 

“Now more than ever, entrepreneurs need a bit of help to get started,” said Beyond Bank’s General Manager, Community Development, Peter Rutter. 

“There are some great ideas out there and for those looking to turn that idea into reality $50,000 can go a very long way.” 

Grants are available for new businesses and concepts as well as pre and post-launch stages of existing projects to help take them to the next level. 

“We’ve been running the Programme for two years now and have uncovered some amazing talent. 

“This year we have decided to expand it even further with more money and an opportunity for the public to get involved by voting for those who make it on to the national shortlist.” 

Applications open on July 17 with voting in September and October ahead of the announcement of successful recipients in November. 

“Ideally, what we want to see are original ideas around social enterprise, technology and grassroots business models that support the community, be it in a capital city or in a regional town” said Mr Rutter. 

“And aside from the cash windfall, we will also support those who are successful by linking them to local networks, access to experts and encouragement to consider further growth strategies like crowd funding, shared workspace, education and training.” 

Interested entrepreneurs are invited to apply online at beyondbank.com.au/entrepreneur where they will be asked to outline the key components of the business plan, show an understanding of the local market and a pathway towards meeting future targets.