The state government has awarded $2.57 million to assist more than 100 Western Australian businesses to improve their capability, capacity and competitiveness.
Minister Assisting the State and Industry Development, Jobs and Trade Minister Stephen Dawson yesterday announced the latest recipients of the final four rounds from the government’s Local Capability Fund (LCF).
The LCF has generated more than $1.42 billion in new contracts won by Western Australian small and medium enterprises (SMEs) and created more than 2,600 jobs and over 300 apprenticeships to date.
Since its launch, the LCF has awarded more than $30 million to more than 870 businesses, including more than 450 regional businesses across a range of industries.
The LCF provides matched funding for SMEs to improve their capability, capacity and competitiveness as suppliers of products and goods and services to the State Government, major projects and other important markets.
Around one fifth of the LCF recipients are businesses operated by First Nations owners, while almost two thirds are based in regional areas.
The funding supports eligible businesses in a number of areas, including the purchase of equipment, attendance at training courses, assistance in obtaining ISO accreditation and access to consultancy services.
The latest four rounds of LCF were categorised as:
- Aboriginal Business – to assist majority Aboriginal owned businesses to supply goods, services and works to government and the private sector;
- Regional Business – available for SMEs located across WA’s nine regions;
- Standards Compliance – assisting with the costs of engaging external expertise to carry out implementation and third-party certification of seven specific national and international standards; and
- Supplying Key Projects – assisting SMEs to supply to key government and private sector projects in priority sector markets.
Minister Assisting the State and Industry Development, Jobs and Trade Minister Stephen Dawson says the LCF continues to grow each year and support WA’s vital small and medium business sector.
“These latest LCF rounds have targeted a wide range of SMEs across the state, as well as providing focus for regional and Aboriginal businesses,” he says.
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