Small businesses across South Australia are set to receive significant funding towards reducing their energy costs as part of the Malinauskas Government’s latest initiative. Under round 2 of the $154 million Economic Recovery Fund (ERF) eligible businesses will be provided with grants of up to $50,000.
Ranging from $2,500 to $50,000 the grants require a matching contribution from the applicants. They are designed to assist up to 8000 small businesses in investing towards lower energy costs. A total of $20 million has been allocated for this round, which will operate on a first-come, first-served basis.
With the grants, investments can be made in the purchase and installation of power supply and generation equipment like batteries and solar panels, energy-efficient appliances rated above 4 stars, and technology that enhances automation and energy efficiency. Plus, the grants will cover building renovations aimed at improving heating and cooling systems.
“South Australian businesses are feeling the pinch of the increased cost of doing business. The second round of the ERF is aimed at helping businesses to reduce these costs. We are the best place in the nation to do business, according to the Business Council of Australia,” shared South Australian Treasurer Stephen Mullighan.
After major success in the first round of the ERF, 17 businesses received support with a total of $26.3 million to 12 manufacturing and 5 tourism businesses. This support facilitated nearly $220 million in total investment.
“We are supporting small businesses to combat cost of living pressures. This grant will halve the cost of purchasing energy-efficient equipment for small business owners and then will continue to deliver savings by reducing their power bills for the long-term. For many, it will be the difference between being able to invest in measures that will significantly reduce their power costs – which we know is one of the biggest imposts to small businesses,” said Minister for Small and Family Business Andrea Michaels.
The initiative not only supports financial relief but also promotes environmental consciousness among the business community.
“Consumers today, including small businesses, are definitely focused on the environment. From a design point of view, energy efficiency is front of mind when it comes to our appliances. Electrolux’s vision is ‘Shaping living for the better,'” shared Phillip Saloniklis, GM Adelaide of the Electrolux Group.
With continued financial support and strategic investment in energy-efficient resources, the SA Government is reinforcing its commitment to the small business sector, helping them to mitigate operational costs and contribute positively to environmental sustainability. The implementation of Round 2 of the ERF aims not only to reduce immediate financial burdens but also to build long-term sustainability and growth within the small business sector.
For small businesses interested in the inititve, register through the Office for Small and Family Business, click here.
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