The Government has announced a $15 billion fund aimed at reviving Australia’s manufacturing industry. The fund will provide grants and loans to manufacturers to encourage innovation and investment in new technologies, with the goal of creating up to 300,000 jobs over the next decade.

Australians are champion innovators and have a great reputation for manufacturing high quality products. We have had the privilege of working with some incredible Aussie innovators, creating products that have the international markets excited and eager to do business with them. 

This Government proposal is a significant step towards increasing Australia’s high quality manufacturing capability. There are so many emerging industries that will greatly benefit from securing some of this government grant money. 

Here are 4 key areas of impact to focus on when engaging this initiative.

  1. Understand and Secure the Funding
    It is easy enough to say that the government has made $15B available to Australian manufacturers, but how do you access it? What are the caveats surrounding the application? One of the most common sights on an application form for tenders and grants is the question, “Does your business have a Quality Management System?” This is usually one of the first questions asked. If you tick “Yes” you get to skip pages and pages of questions about your business, thus making the application process so much simpler. By having a Quality Management System (QMS) in place you have put yourself ahead of the competition. A QMS shows how your company can help the government achieve their objectives.
  1. Maximise the funding or contract
    All too often we work with a business that has previously secured funding or a contract but has been unable to retain it past the expiry date. Once you have secured yourself a piece of the funding, it is important to play the long game, and set your business up to both maximise the current resources and prepare to gain more later down the track. While certification to ISO9001 can go a long way, just implementing a Quality Management System (QMS) within your business can increase resource efficiency and prove worthiness of a contract extension, or subsequent rounds of funding.
  1. Improve, improve, improve
    The Government’s proposal includes a strong focus on modernising and innovation towards sustainability across the entire manufacturing industry. Within QMS, a critical aspect is assessing and improving. Businesses change, industries change, and objectives change. Subsequently your QMS should also adapt and change. Keeping a QMS current is a core way of increasing efficiencies, removing aging systems or practices, refocusing the system on what matters most.
  1. Plan for the future
    Funding doesn’t last forever. Neither do business objectives. Hopefully, after securing the funding, your business has been able to achieve significant goals and milestones. It is critical to develop objectives for after the funding or contract. This doesn’t mean the objectives must change, but rather refreshing and reviewing what the business is aiming at and how you’re going to achieve that. 

The Government’s proposal has been welcomed by industry groups, who see it as a much-needed boost for the sector. We believe that the fund will help manufacturers modernise their operations, adopt new technologies, and become more sustainable.

If your business is looking to engage with this new initiative, talk to our team at eQA and explore how we can help your business get ahead of the competition with a simple QMS to increase opportunities to improve your business, and plan for the future.

We can help with:

  • Developing & implementing QMS
  • Certifications (ISO9001, ISO45001, ISO14001, ISO22000, ISO 27001)
  • Succession planning and ongoing system management

Reach out to the eQA team on 07 3715 6066 or Contact Us. We would love to explore how certification can help your business save time, money, and ultimately grow.

To learn more about this proposal and the ongoing debate around Australia’s manufacturing industry, read this article: https://inqld.com.au/business/2023/03/29/labor-champions-15b-fund-to-breathe-new-life-into-manufacturing/.