More than $920,000 to improve competitiveness of SMEs
44 per cent of successful applications came from regions
Local industry participation high priority for the Liberal-National Government
Commerce Minister Simon O'Brien today announced 41 Western Australian companies had received a share of more than $920,000 to innovate and improve business competitiveness under the State Government’s Industry Facilitation and Support Program (IFSP).
IFSP offers dollar-for-dollar financial assistance up to $25,000 to eligible small to medium-sized enterprises (SMEs) looking to supply to major resource projects under way in the State.
“Since the introduction of IFSP, there has been a steady stream of applications with funding requests for a range of purposes, including marketing activities to increase exposure in local, national and international supply chains; accreditation; software and training to improve business processes; and equipment to increase capability,” Mr O’Brien said.
“For example, Geraldton Building Services and Cabinets will engage a consultant to review their current systems and prepare the company for accreditation. While Secure Systems in Balcatta is going to develop a marketing plan targeted at the resources sector.
“Companies must take a holistic approach when thinking about entering this rewarding but challenging market. This funding is just one way they can start to look at what they need to do to compete for contracts arising from major resource projects.
“This is only part of the Liberal-National Government’s strategy to increase local content and create more jobs for West Australians.
“Our strategies are working, with more than $16billion of contracts being awarded to Western Australian companies since July last year.”
The Minister said the level of interest from regional business in the program was encouraging with 44 per cent of successful applications coming from outside the Perth metropolitan area.
Initiative is an important component of State Govt’s Local Industry Participation Framework, introduced July 2011
Department of Commerce working closely with resource project proponents and industry associations to
Minister’s office - 9213 6400