$500K Agribusiness Grant Now Open
Coles Nurture Fund (CNF) Grants are now open offering up to $500,000 in funding to eligible small to medium Australian producers, farmers and manufacturers.
The $50 million 5 year CNF program, that commenced in 2015 is supporting businesses to develop new market-leading products, technologies, systems and processes to drive differentiation, extend growing seasons, improve productivity and reduce inputs.
Businesses do not need to be a supplier to Coles to be eligible however must:
- Have a turnover that is less than $25 million per annum.
- Employ no more than 50 full time employees (excluding casual seasonal labour).
- Have a registered Australian Business Number.
- Have been trading for a minimum of two years.
- Provide Accountant prepared financial statements for a minimum of the previous two financial years (noting FY18/19 financial statements can be submitted subsequent to the application by 27/9/19). Financial statements for incorporated applicants must be audited.
- Provide a funding declaration from an external accountant on the accountant’s company letterhead confirming ability to fund applicant’s share of project costs and solvency.
Applicants that have already secured co-investments for their project from other entities will be considered. Grant funds can not be applied to expenses that have already incurred.
The application and evaluation process will need to address merit criteria and questions that include, but are not limited to:
- Why is the applicant applying for a grant from the CNF?
- How will the grant be used by the applicant?
- What economic benefit will the proposed project bring?
- What assets may need to be purchased, and what entities would supply goods and services required by the project?
- What business debt does the applicant have, and who are the applicant’s creditors?
- Who are the members of the applicant’s management team?
- Is the proposal market-ready?
Grant applications for Round 7 must be submitted by 5pm on 30 August 2019 AEST. Grant round outcomes are anticipated to be finalised by 31 December 2019.
For more information please visit the Coles Nurture Fund grant website . For assistance in considering your project suitability and in submitting your application and supporting documentation please contact your usual Mazars advisor or alternatively our Grant specialist, Angela Winton, on +61 7 3218 3900.
+ 61 7 3218 3900
+61 3 8458 0000
+61 2 9922 1166
Please note that this publication is intended to provide a general summary and should not be relied upon as a substitute for personal advice.