Funding available to skill up your staff
Australian businesses can now apply for support to boost the skills of their workforce under the government’s new $476 million Industry Skills Fund.
The Industry Skills Fund is a key element in the Australian Government’s Industry Innovation and Competitiveness Agenda. The fund will provide up to 200,000 training places and support services over four years.
The fund works as a partnership—businesses that are awarded funding must financially co-contribute to the proposed project. The co-contribution rate depends on the number of employees, with smaller businesses receiving higher levels of support.
The fund’s focus will be on small-to-medium enterprises, including micro-businesses, taking up growth opportunities. Large businesses are also eligible if criteria are met, but will be required to make a higher contribution to the costs of training.
The fund will prioritise businesses in the industries listed below, but other businesses may still be eligible to apply:
- food and agribusiness
- mining equipment, technology and services
- medical technologies and pharmaceuticals
- oil, gas and energy resources
- advanced manufacturing
- enabling technology and service industries that support one or more of the priority areas listed above.
Applications for funding will be assessed against the Industry Skills Fund – Growth Stream merit criteria.
Types of assistance
Help is available in the following categories:
- Skills advice – Help with identifying skills opportunities and maximising training outcomes.
Advisers will provide tailored advice about your business skills needs and potential training solutions.
- Training grant – Co-investment for businesses to improve the skills of their workforce for an identified growth opportunity.