The McGowan Government has announced three new rounds of the Local Capability Fund (LCF) worth $2 million to assist local businesses to improve their capacity to supply goods, services and works to the State Government, major projects and other important markets.
Western Australian businesses bidding for State Government contracts are encouraged to apply for the new LCF rounds.
The purpose of the LCF is to assist small and medium enterprises (SMEs) with funding for activities such as planning, internal infrastructure, plant and equipment and training.
The three new LCF rounds are:
- Aboriginal Business Round - businesses with majority Aboriginal ownership can receive grants of up to $50,000 to improve their capability and competitiveness to supply goods, services and works;
- Supplying Key Major Projects Round - grants of up to $50,000 to help SMEs improve their capability and capacity to supply to major State Government civil construction and infrastructure projects, including those listed on the Pipeline of Work website. Funding will also be available to applicants wishing to access contracts on other major public or private sector projects; and
- National and International Standards Compliance Round - grants of up to $20,000 to help SMEs with the costs of engaging external expertise to carry out implementation and third party certification of six specific national and international standards.
Through the LCF, more than 520 businesses have received total funding of $19 million, helping secure more than $736 million in contract awards.
Grants can be used to cover expenses such as buying and upgrading essential equipment or meeting essential pre-qualification requirements for supply-chain entry.
Businesses can also use grants to pay for consultant advice on a range of matters, including occupational health and safety, marketing, finance and cybersecurity.
The new rounds will be also be announced today by the Department of Jobs, Tourism, Science and Innovation at the Aboriginal Business Forum in Geraldton.
To find out more about the LCF and to submit an application, visit https://industrylink.wa.gov.au/local-capability-fund
As stated by State Development, Jobs and Trade Minister Roger Cook:
"Supporting local SMEs to remain competitive in bidding for government contracts is crucial to supporting jobs and maintaining our capability across a range of industries.
"SMEs make up at least 97 per cent of Western Australian businesses. They play an important role in strengthening the State's supply chains and supporting the economic growth of Western Australia.
"The Local Capability Fund has a proven track record of successfully helping SMEs to access the State Government's estimated $30 billion per annum spend on goods, services and works for the community.
"I encourage businesses to take this opportunity and apply."
As stated by Aboriginal Affairs Minister Tony Buti:
"The Local Capability Fund's Aboriginal Business Round will make a significant difference to Aboriginal businesses across Western Australia, particularly in remote regions.
"At today's Aboriginal Business Forum, Aboriginal companies are hearing first-hand how the LCF can assist them to participate in the very large pool of Government contracts.
"Upgrading equipment or engaging consultant expertise can help businesses grow to a level that allows them to compete for contracts that have previously been beyond their reach."
