$2m in grants for WA businesses

The state government has announced $2 million in grants under the latest iteration of the Local Capability Fund (LCF) for Western Australia's small businesses.

The LCF is designed to help small-to-medium enterprises increase their capability and competitiveness as suppliers of goods, services and works to the state government and other markets.

Four new rounds have been announced for 2020-21, comprising the Aboriginal Business, Major State Government Projects, Supplying Key Private and Public Sector Markets, and National and International Standards Compliance rounds.

Businesses will use the funding to cover expenses related to pre-qualification requirements for supply chain entry, buying or upgrading essential equipment, and engaging in consultant expertise.

It is in addition to the $10 million announced by the state government last month.

Premier Mark McGowan said the record allocation – which more than doubles last year’s funding – would support businesses impacted by the coronavirus pandemic.

“It will provide opportunities for Western Australian businesses to bounce back from COVID-19, create jobs and diversify our economy,” he said.

“It will also help increase the number of state government contracts awarded to Western Australian businesses.”

Up to $100,000 in grants will be made available to indigenous businesses, Aboriginal Affairs Minister Ben Wyatt said.

“The Aboriginal Business Round of the LCF is a great way for SMEs run by Aboriginal people to secure the expertise and equipment that will help them when bidding for significant contracts,” he said.

“I would encourage any eligible business to seize this opportunity to grow their operations, create jobs potentially for other Aboriginal people and be part of the diversification of the Western Australian economy.”

The funding forms part of the state government’s $5.5 billion WA Recovery Plan, aimed at boosting local economic activity post COVID-19.