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Federal funding for Donald business incubator.



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JOHN FORREST MP Federal Member for Mallee

Friday, 20 June 2003

FEDERAL FUNDING FOR DONALD BUSINESS INCUBATOR

The Donald Enterprise Park will officially be opened by John Forrest MP tomorrow.

Funding of $273,900 was provided under the Government's Small Business Incubator Program.

Mr Forrest said the Donald Enterprise Park was the newest addition to the Regional Enterprise Network - Central Victoria which has constructed eight small business incubators since 1998.

"The Federal Government, through its Small Business Incubator Program, has provided funding totalling of $1.1 million for this Central Victoria incubator network," Mr Forrest said.

"Most recently the Federal Government provided funding for two established small business incubators at Castlemaine and Eaglehawk and the recently opened incubator at Dunolly.

"For the Donald Enterprise Park, the Buloke Shire Council provided serviced land for the construction of five new light industrial units. This is the first such facility in the shire.

"The five units at Donald Enterprise Park range in size from 108 sq m to 144 sq m and have three-phase power which is sufficient capacity for most light industry activities."

Mr Forrest said the small business incubators played an important part in the community, particularly in regional areas. "They provide new and emerging small businesses with an opportunity to grow and succeed at the initial development stage

when they are most vulnerable."

"Often that initial leg up is the difference between success and failure.

"We want small businesses to establish themselves as stand-alone operations because of the flow on effects they create with jobs and benefits to the local economy."

Mr Forrest said the Federal Government has provided funding to help establish small business incubators since 1991-92.

"More than $40 million has been provided to establish incubators around Australia, the majority in regional and rural areas."

"Presently, there are 72 small business incubators operating around Australia, with another seven under construction.

"These incubators accommodate about 1200 tenant businesses and have graduated a further 1500 into the mainstream business community.

"The Small Business Incubator Program is one of a number of assistance measures, such as the Small Business Enterprise Culture and Small Business Answers programs the Federal Government has in place to help small operators prosper and thrive."

For more information on the Government's programs, visit the website of its business unit, AusIndustry, at www.ausindustry.gov.au or call the AusIndustry Hotline on 13 28 46.

Contact: Chris Butler, AusIndustry, 02 6213 7324 or 0411 130 677

MEDIA OPPORTUNITY Official Opening of Donald Enterprise Park June 21 2003, @ 11am