Unlocking Business Growth: What the Latest Victorian Government Initiatives Mean for Your Business
The Victorian Government has rolled out a couple of new initiatives that could make life a little easier for businesses looking to grow. The Economic Growth Statement and the Victorian Business Growth Fund are designed to reduce red tape and provide financial backing for businesses ready to scale up. Here’s a quick breakdown of what’s on offer and how it could work for you.
Cutting Red Tape and Encouraging Investment
The Economic Growth Statement, released in December 2024, lays out a plan to halve the number of business regulators by 2030. This means fewer hoops to jump through and an estimated $500 million in savings over five years—money that businesses can put toward growth instead of compliance paperwork.
What does this actually mean for businesses?
Less Bureaucracy – Simplified processes to help businesses focus on what they do best.
More Investment Opportunities – New incentives to attract investors and funding.
Sector-Specific Support – Targeted backing for advanced manufacturing, health technologies, agribusiness, and clean energy.
$20 Million Growth Fund – Funding available for businesses looking to expand.
This is great news if you’re tired of dealing with endless regulations and want to redirect that energy toward growing your business.
Victorian Business Growth Fund – Helping SMEs Scale Up
For small and medium-sized enterprises (SMEs), the Victorian Business Growth Fund could be a real game-changer. If you’re ready to expand but struggling to secure capital, this fund provides investment opportunities tailored to businesses with high growth potential.
Here’s how it helps:
Funding for Growth – Capital available to invest in tech, talent, and infrastructure.
Expansion Support – Helps businesses break into new markets and scale operations.
Flexible Investment Options – Designed to work with business needs, rather than a one-size-fits-all approach.
If your business has a solid plan but lacks the financial backing to take the next step, this fund could provide the boost you need.
How Your Business Can Benefit
If you’re looking to grow, streamline operations, or secure funding, now is a great time to take advantage of these initiatives. Cutting red tape means fewer roadblocks, and access to funding means greater opportunities to scale and compete.
Want to know more? Check out the Victorian Government’s grants directory or speak with an expert who can help you navigate the funding process.
At Markstone Group, we help businesses secure government funding and create strategic growth plans. If you’d like to explore how these initiatives can work for you, let’s have a chat!
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