This program jointly funded by ERM Business Energy, Epicorp Limited, and Lighthouse provides low cost (flat 3%), unsecured loans of up to $10,000 to assist with skills development and knowledge transfer to key individuals in businesses in the ACT. Funds are not means tested and are provided to more mature companies on a project basis.
The funds are aimed at assisting recipients obtain or refine key skills and capabilities necessary to grow the company and achieve defined business goals. The project should identify not only the activity or activities necessary to progress the company but also the key person or people who will acquire the skills and then transfer these to others in the organisation.
Some examples of eligible projects include:
- To acquire knowledge about how to structure the business for growth into other markets and regions.
- To acquire knowledge about intellectual property (IP) strategies for the company, with regards to both its products and services and branding and marketing.
- To acquire knowledge and understanding of the financial structures of the company, and how specific structures can better accommodate growth and other company objectives.
- To acquire management skills and capabilities that will aid company growth and other objectives.
- To acquire the necessary skills to develop a sales pipeline and related marketing strategy.
The program is not about funding a consultancy but rather ensuring that your business has the skills available in-house to enable future growth. You can identify the 'expert' you wish to work with as part of the project or you can work with Lighthouse to identify an appropriate person or persons to work with you.
Expenses must be directly related to the project and the resulting growth of the business, with some expenses being ineligible for funding.
For more information about the EDLF Program, please click here.