Media Release | Investing $2 million to grow local SMEs

October 19, 2021

The Marshall Government is investing more than $2 million to help unlock further potential in local SMEs through a grant to deliver programs designed to grow companies throughout the state.

The grant to the University of South Australia’s Australian Centre for Business Growth (AUCBG) will deliver subsidised training for up to 132 SA company business owners/CEOs/MDs to help grow their businesses.

Minister for Innovation and Skills David Pisoni said that training business leaders will in turn help them expand their business, attract investment and create new jobs.

“South Australia is brimming with entrepreneurial talent with great business ideas which we want to nurture and help grow into established, thriving companies,” said Minister Pisoni.

“The Marshall Government is investing in skills development for all rungs of the employment ladder in our state to create as many jobs as possible.

“Research from the AUCBG has shown that business leaders are the most important factor of company growth, so it is critical that we invest now into their training.

“They make decisions such as: what products and services to offer which customer and at what price; which systems to put in place to support people and enable the organisation to be more productive; what people to hire, and what the type of funding is best to fuel rapid growth.

“We encourage South Australian companies to enrol in the AUCBG growth programs and look forward to their achieving the positive outcomes we have seen in the past.”

Over the next four years, the South Australian Government grant will:

  • Partially subsidise the cost of 64 SA company business owners/CEOs/MDs to participate in the single day Assessment Clinic.
  • Partially subsidise the cost of 36 SA company business owners/CEOs/MDs to participate in the six day-long sessions of the Growth Ramp program.
  • Partially subsidise the cost of 32 SA company business owners/CEOs/MDs and their executive teams to participate in the three module, nine-day Growth Modules program.
  • Support the AUCBG Business Growth Tracker Survey and enable the Centre to collect and analyse data, track changes in participants’ revenue, profit, jobs, and export income; impediments and accelerants to growth; innovation; and leadership changes.
  • Support a new professorship in business growth.

Executive Dean of UniSA Business, Professor Andrew Beer, said the AUCBG has a great track record in delivering business growth programs across Australia.

“In the 2020-21 Financial Year, the South Australian companies that attended the Centre’s business growth programs reported they had an average compound annual growth rate of 15.47% for revenue and 11.86% for jobs,” Professor Andrew Beer said.

“As the University of Enterprise, we are very pleased to continue working with the South Australian government to grow and scale enterprises in the state.”

ANZ Chair in Business Growth and Director of UniSA’s Australian Centre for Business Growth Professor Jana Matthews said participants in the AUCBG growth programs have generated hundreds of millions in revenue.

“Since coming to AUCBG growth programs, hundreds of SA company respondents to our Growth Tracker study have generated nearly half a billion additional dollars in revenue, more than $73 million in profits, have added 1,821 jobs, and generated more than $46 million additional dollars in export revenue,” Professor Matthews said.

“We appreciate the vote of confidence the South Australian Government has provided the Centre and look forward to working with more SA companies to enable them to learn to grow, even in these challenging times.

“The Centre is confident that we will be able to deliver outstanding results for the South Australian business owners, CEOs and MDs participating in our growth programs.”

Since 2016, the Centre has also received funding from the Queensland government, Northern Territory government, West Australian government and ANZ Bank, and has won two international awards for the impact its programs have had on company growth.

For more information about the Australian Centre for Business Growth, visit: https://centreforbusinessgrowth.com/

 

Media Contact:
Greg Charter 0434 791 627