Vic govt gives entrepreneurs with disability funding boost

Between now and May, the Victorian government is offering an initiative to support the growth of businesses run by people with disability.

With the Entrepreneurs with Disability Voucher Stream, the Vic govt aims to vouchers of up to $25,000 towards an eligible innovation or business capability project.

The Entrepreneurs with Disability Voucher Stream is open to Victorians with disability, who have hit a wall in their business growth; or aren’t able to maximise an opportunity due to shortage in funds.

Applicants must meet the following criteria to be eligible for assistance under the program:

• Have a disability
• Develop an innovative product, process or service
• Shortlisted candidates may be interviewed to seek more information about their business
• Not-for-profits, charitable organisations and social enterprises are eligible to apply, on the proviso they are majority owned and operated by people with disability
• Businesses that employ fewer than 20 staff are eligible to apply.

In addition to the eligibility criteria, applicants that operate a social enterprise will be required to demonstrate that they:

• Are a social enterprise with a business model that supports an economic, social, cultural or environmental mission consistent with a public or community benefit
• Derive a substantial portion of income from trade-based activities
• Offer award wages and conditions aligned with wages and conditions enjoyed by the broader local community
• Reinvest the majority of business profit in the fulfilment of their mission.

If a business meets the criteria they will receive a voucher of up to 80 per cent of the total cost of services towards an eligible business capability project, provided on a cash co-contribution basis. Successful applicants must contribute a minimum value of 20 per cent towards the project.

Payment up to the face value of the voucher (exclusive of GST) will be made by the Department of Jobs, Precincts and Regions (DJPR) to the Registered Service Provider(s) following provision of services, advice or expertise and upon the completion of work.