We are continuing to grow our business - to put it in Kerri’s fathers words to us 20 years ago..
“In business, if you are standing still you are really going backwards”.
For us this meant implementing what we do with other organisations for ourselves – working to improve our people, processes and systems.
Today I will focus on the people side of our improvements because this is where I believe our story has value to you.
We recognised that we could up-skill in a couple of areas which were peripheral to what we deliver, but would improve the value we provide clients.
When we looked at the up-skilling we needed for this next growth activity we recognised 3 areas that needed to be covered:
- Formal training
- Technical skills
Once we recognised what we needed, we looked at the costing, and if there was any government support available.
.. And guess what? There is! The government provides different levels of support, depending on your size. They do require you to jump through a few hoops, but it is all worth it for reasons explained further below.
In the process of applying for the funding we worked with an industry skills advisor who ensured we had the up-to-date documentation (business case, capability statement, etc.) to provide as part of our application; the documents you need when you carry out business with larger organisations.
The process took a number of weeks to gain approval. Once we completed the training we needed to complete a report and submit it within 2 weeks.
Can you get value out of applying for funding? Definitely!
We received back around $8K out of our training expense of around $13K due to the government funding. Yes, we did need to contribute to some of the cost, but we also recognised that we needed the training, which is an important step towards business growth.
Our takeaway: You use government funding as an additional source of funding when you know what you need and recognise that this will help your cash flow, and that the documentation you are required to provide is already developed, or you should have it for your business.
Don’t chase free money because it is free. Chase it because it is a smart way of funding your activity.
- What we needed: additional skills
- What was provided: training and coaching
- What was the benefit: staff highly engaged