The City of Sydney Innovation and ideas grants program supports innovative projects that address local and global issues across key sectors that contribute to a sustainable city, thriving economy, vibrant communities and cultural life.

Funding can support:

• research and feasibility studies relating to the funding priorities listed below
• pilot projects that test new approaches for addressing local and global issues
• demonstration projects that promote market awareness and adoption of innovations
• development and implementation of best practice approaches and toolkits
• new technologies and platforms that support sector development.
• ideas that explore the circular economy.

What funding is available?

Cash matched funding from $10,000 to $50,000 per year is available, for a one-year program or multi-year funding (up to 3 years). 

Funding priorities

The City of Sydney Innovation and ideas grants program will prioritise innovative projects that contribute to making Sydney a city:

• that is a leading environmental performer
• that is equitable and inclusive
• with resilient and diverse communities
• with a thriving cultural and creative life
• with a transformed and innovative economy.

Eligibility

To be eligible, applicants (both for profit and not for profit) must:

• operate within the City of Sydney’s local government area or be able to demonstrate significant benefits for the area’s residents, workers and/or visitors
• have acquitted any previous City of Sydney grants or sponsorships and met all contractual obligations
• demonstrate the grant will be used for a purpose in the public interest
• demonstrate capacity to deliver the project
• be financially viable.

The project must not duplicate existing services or programs and must be for future expenditure.  Will not cover existing overheads of the business.

How to apply

Note applications for the 2025 Summer City of Sydney Innovation and ideas grants program open 4 February and close 11 March 2025.  This covers projects starting from 1 July 2025.

To learn more and apply online click here

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

With the financial pressure on businesses these days, I can understand why some business owners are turning to ChatGPT and other AI platforms to get some free business advice.

But as you see on the image above, whilst this advice is free upfront, it may cost your business in the longer term.

The main issue as I see it is that AI, without extensive pre learning on your specific business, there is a high chance that the advice given does not take into consideration your specific business needs, challenges and goals.

And there is, in my (maybe biased) opinion, a higher risk that the AI based advice is actually wrong.

So, what do you do if you can’t afford the upfront cost?

If your business is in NSW, you may be able to access free business advice under the NSW Government’s Business Connect program. 

And as an accredited advisor under this Business Connect program, I can help your start-up or business with free business advice around:

• understanding your cash flow better
• forecasting your financial future
• understanding where you are making or losing money such as product and service profitability
• tactical and strategic business planning
• looking for funding such as grants

And cover anything else to do with the money side of your business.

Or you may just want someone to bounce your thoughts off to make sure you are doing all you can to survive these challenging times.

If you want to take advantage and get some free business advice from me, simply click here to book a free business advice session with me.  Note When there hit the request to book button and complete the registration

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

The Coles Nurture Fund was set up to help small to medium sized businesses in Australia’s food and grocery sector to innovate and grow.

Maximum funding under the Coles Nuture Fund is $500,000 per project.

Eligibility

To be eligible for funding from the Coles Nuture Fund, you must:

• have a turnover that is less than $25m 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
• demonstrate the project is unique and drives innovation, and provides outstanding sustainability benefits

How to Apply

Applications for round 13 of the Coles Nuture Fund close 14 February 2025.

Note round 14 applications will not open till 2026.

To learn more and download the application form click here

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

If you are a Canberra based start-up business looking for funding to assist in your proof of concept, then the 2025 ACT Innovation Connect Grant may be for you.

What funding is available?

The Innovation Connect Grant program provides matched funding between $10,000 and $30,000.   Note 50% of the funding is provided up front.

Eligibility for the Innovation Connect Grant program

To be eligible you must have an ABN and your registered office and principal place of business be in the ACT, or have a business that is primarily focussed in the ACT and have less than $2 million in annual revenue

What the grant money can be used for?

The objectives of the program are to:

• Support innovative, entrepreneurial ideas to a market ready position, including market testing.
• Fund projects that prove the technical or commercial feasibility of a concept.
• Support the development of product prototype or functional software.
• Assist with development and testing of effective marketing approaches, and with legal, IP and patenting advice.

You can use the grant funding for the following activities:

• Product development
• Resources and consumables specific to the project activities
• Development of marketing plans and strategies (excluding advertising costs and content)
• Website development or upgrades
• Staff wages and salaries specific to the project activities
• Technical feasibility testing
• Market testing and customer validation exercises

But does not include, general admin costs, major capital expenditure or costs already incurred.

The Application Process

To apply for the Innovation Connect Grant is a multi staged process.

Step 1 – have an Intro Meeting with the Canberra Innovation Network

Step 2 – Submit an Expression of Interest

Step 3 – Shortlisted projects will pitch to a panel

Want to learn more about the ACT Innovation Connect Grant (ICON)?

Click here to learn more about the ACT Innovation Connect Grant and to book your intro meeting

Applications close 10 April 2025

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

Welcome to my series on how to fund your business growth.  This session is looks ways you can raise equity without having to provide full disclosure documents

Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. Wayne may also be able to assist you in preparing any funding or grant application. 

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

The 2025 NAIDOC Local Grants aims to assist with the cost of activities being held during NAIDOC Week 2025 (6-13 July 2025) 

What is NAIDOC Week?

NAIDOC (which is the National Aborigines and Islanders Day Observance Committee) Week is held in July to celebrate our First Nations’ histories, cultures, achievements and continuing contributions to Australia.

Whilst I firmly believe that all Australians should be learning more about our First Nations people and cultures every day, NAIDOC Week is a significant opportunity learn about First Nations cultures and histories and participate in celebrations of the oldest, continuous living cultures on earth.  FYI the image in this post is from the Laura Quinkan Dance Festival where I spent part of the 2023 Naidoc Week

And given the importance of learning about our First Nations people and cultures and in closing the gap between First Nations and non-Indigenous Australians, the Federal Government provides funding to assist under the NAIDOC Local Grants Program.

So if you are thinking about holding an event or celebration for the 2025 NAIDOC Week, then this grant may be for you

Funding Available

There are two funding Categories for this grant opportunity:

• Small Scale Grants – funding of $10,000 or less.
• Larger Scale Grants – funding of between $10,001 to $50,000 for activities / events which may be delivered in multiple communities or locations

Who is Eligible for the 2025 NAIDOC Local Grants

The activity or event must promote the annual National NAIDOC Week theme, and support the Australian Government’s commitment to celebrate, support, and raise awareness of First Nations histories and cultures within the wider community. An activity or event being run by a non-First Nations organisation must have support from the local First Nations community/ies.

To be eligible you must:

• have an Australian Business Number (ABN), (note can be a sole trader)(
• have an account with an Australian financial institution
• have other sources of co-contribution funding

Eligible grant activities

The key criteria is that your grant activity must directly relate to the 2025 NAIDOC Week Theme: ‘The Next Generation: Strength, Vision & Legacy, and generally in in NAIDOC week (6-13 July 2025) and can include:

• activities that promote heathy outcomes for First Nations people
• arts based activities, including painting, dancing, crafts and storytelling
• family fun days
• cultural activities
• Elders activities
• bush tucker and other community cooking activities
• NAIDOC themed sporting activities or competitions, and
• activities that actively promote reconciliation.

Learn More

Click here to learn more

Applications close 20 February 2025

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

Preference shares are a type of share or equity that gives holders preferential rights over ordinary shareholders.  The preference could in relation to dividends and priority in liquidation. 

Whilst preference or priority in dividends is generally understood, one possible sting in the tail for founders is preference or priority in an exit or liquidation event.

If the preference shareholders have preference or priority in an exit or liquidation event, this may impact the amount of money left to distribute to other shareholders such as founders.

The easiest way to understand this is by looking at some examples.

In example 1 below, the preference shareholders invest $20m for a 25% share of the business and there is 1x preference. 

If the business ultimate sells for $30m, the preference shareholder get $20m, and the other 75% shareholders get $10m or just 33% of the sale value.  If it sells for $50m, preference shareholders still get their $20m, but the 75% other shareholders now get $30m, or 60% of the sale value.  It is only when the sale value exceeds $80m do the other shareholders get their 75% of the sale value.

In the next example we look where the preference shareholders invest $20m for a 25% share of the business with 2x preference.

In this case, with a $20m investment by the preference shareholders, the other shareholders will not get any return until the sale value exceeds $40m (being $20m investment x 2), whereas in the 1x preference, other shareholders will start to get some money back if the business is sold for in excess of $20m.    

And if you are a founder and your business is widely successful, this preference on an exit event may not be a problem, as everyone is likely to be rewarded financially on the exit event.

But if your business is not a widely successful, you could find your equity is worthless.  Hence the sting in the tail from the issue of preference shares.

And we have not considered preference stacking in the above example.  This is where there are multiple preference shares with some ranking ahead of others.  Which complicates this and may make the outcome for the founder even financially worse.

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

As a business owner, are you aware that how you recover accidental payroll overpayments may be considered to be wage theft under the new laws in place from 1 January 2025?  And as a result, you could personally face jail time and / or a significant personal or company fine if you recover the overpayment without proper due process.

Here is a common example I see.  A staff member is given a bonus of $5,000 inclusive of superannuation.  They should be paid $4,484 plus $516 in super.  But are paid by mistake $5,000 plus $575 in super.

The employee has been overpaid by $516 before tax. 

Now you would think, that once you identified the overpayment, and advised the employee of such, that you can simply reduce the employees pay by $516 in the next pay run(s).

But if you do this, you are in effect breaking the law and opening yourself up to issues of wage theft.

Why?  Because there are rules around taking money out of an employees pay.  And in most circumstances, the only way you can recover the payroll overpayment is if the employee agrees in writing to repay the money. 

If they don’t agree to repay the money, you as a business owner have no legal right to deduct the money from a future pay run and could be accused of wage theft.  You are just left with taking legal action to recover the money.

Another reason why every business owner needs to be on top of their payroll process to ensure accurate and timely payments and you avoid being accused of wage theft.

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

As Round 4 of the Export Market Development Grant (EMDG) closes today, I thought I would share my views on where the program did not work this round, and some ideas to improve it for next time.

Firstly, some history

The EMDG has undergone some charges.  Originally it was a program that a business applied in arrears after it had spent the money.  Once all applications assessed the available budget was allocated across all applicants in what I considered was a reasonably fair basis considering how much you spent.  A business spending $300,000 would get more back than a business spending $60,000.

The main criticism here was that no one knew how much they would get back so it was very hard to plan.

To be fair the government listened and the EMDG application process was then changed to a process where you applied in advance for a particular tier.  Each tier had a maximum annual grant.  Once all applicants were accessed, the available funds were then allocated by tier, which pretty much each applicant getting the same amount.  In this case a business spending $300,000 got the same as a business spending $60,000.  And if they were in Tier 1 this was $15,000.

The criticism of this was that it was not worth the effort.  I personally know of one business that spend over $300,000 marketing in the UK to launch their product.  They sat down and worked out that the advantages of running their UK and European business through a UK subsidiary far outweighed their EMDG moneys.  End result income was removed from Australia which may someday come back as a dividend.

Now let’s look at Round 4 changes

To be fair they realized that amounts like $15,000 for Tier 1 and $24,600 for Tier 2 did not really work.

So, they decided in round 4 to try and increase the amounts that would be paid out.  They did this by working on a first come first served basis.  Allowing those successful applicants to get paid more.  In theory not a problem as many grant programs work like this.

But here is where they made a fatal flow in the process in my view.

Tier 1 was for new exporters.  But, if you had just 1 export sale to anywhere in the world in the past 18 months you were not eligible for Tier 1.

Tier 3 was for current exporters expanding to selected new markets.  But if you had 1 export sale in the past 18 months to the selected new market you were not eligible for Tier 3 for that market.

For example, I know of one business with over $1.4m in exports from the US (their main market), but had managed to snag 1 invoice of $11k from Singapore and 1 of $32k to the UK.  This made them ineligible for Tier 3 in respect of the UK or Singapore, the next markets they were planning to expand to.  They had to apply under Tier 2, but they were too late.

This meant, anything else was left to Tier 2.

Guess what – most businesses (like the example above) fell into Tier 2.  And the demand for this tier was so high that applications for Tier 2 were closed within 3.5 hours of opening on 12 November 2024.  That’s right $62m in grants gone in 3.5 hours.

But in respect of the other Tiers, these are only closing today and it looks like some of these will be undersubscribed (i.e. not all the budget for that tier has been applied for).

And they are now talking about putting some of the moneys from the undersubscribed tiers back to Tier 2 applicants (but not to new Tier 2 applicants who missed out)

Recommendations

Firstly, the definitions of Tier 1 and Tier 3 need to allow for the examples of where a business has had some, but limited success in their export markets.  One export sale should not disqualify you from a Tier.

Secondly, Austrade should take a leaf out of the Qld Governments Business Basics Grants Program.  This had the same issue of closing within hours of opening and many businesses missing out simply because for whatever reason they could not apply that quickly.  So now they have a ballot process.  All accessed applications within a time frame of a week or 2, enter into a ballot to pick the successful applicant.

Let’s see if they make any changes for the next round of the Export Market Development Grant .

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

If you are a Biotech business thinking of expanding to Korea and attending BioKorea 2025, the NSW Going Global Export Program Health to Korea program may be for you.

Eligible businesses can jointly exhibit within the Australian National Pavilion at the BioKorea in May 2025 to participate or showcase their products.

What the NSW Going Global Export Program Health to Korea covers

Investment NSW will support the exhibition costs to be part of the NSW business showcase at BioKorea 2025, which includes

• Pre-event briefing and preparations 
• Promotion of NSW delegation to Korean biotech industry
• In-market support from Investment NSW in Seoul
• Ongoing, tailored one-to-one support following the conclusion of the program

Note this does not cover travel costs such as airfares and accommodation.

Eligibility

To be eligible to apply for this program your business:

• Have headquarters in NSW with a valid ABN
• Have between 5 and 199 full-time equivalent (FTE) employees 
• Have your own staff on site for the trade show 
• Be export-capable and export-ready
• Have a product or service that is produced primarily in NSW and achieving sales already
• Have a website featuring the product or service
• Be prepared to adapt the product or service for the new market
• Be flexible regarding market-entry method
• Have resources to support marketing and development for a new market

How to Apply

Click here to learn more and apply for the NSW Going Global Export Program Health to Korea

Note applications close 31 January 2025.

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052