BARTERCARD LAUNCHES $250,000 INCUBATOR FUND
22 November 2016,
BARTERCARD has launched a business development grant to get a piece of the startup action.
The Gold Coast-based trade exchange's Small Business Incubator Grant has a pool of $250,000 up for grabs, funded through its trade dollar currency.
Small and medium-sized businesses on the Gold Coast can apply for a grant of up to $25,000 to invest in renovations, products, services or advertising within Bartercard's network of 24,000 members.
Bartercard Australia CEO Clive van Deventer says the Incubator is designed to help grow business ideas and tackle startup hurdles.
"There's over 40,000 small and medium-sized businesses on the Gold Coast which are creating the fabric and culture of this city," van Deventer says.
"We want to support them and understand that a little help has the power to completely transform a business and catapult it to success."
The Black Sheep Espresso Baa, which opened in Coolangatta in 2014, used Bartercard credit to cover essential costs instead of business loan.
"I sourced the architectural design, painting, electrical work, materials, fitout and builders clean all on Bartercard and paid it back by taking on Bartercard customers," owner Dinesh Nair says.
Nair also used the cashless credit on the café's furniture, branding, equipment and advertising.
Bartercard is on the hunt for the most innovative business concepts to kick start, according to van Deventer.
"The Gold Coast already has a thriving SME scene with a lot of emerging talent as more startups and business owners are choosing the beach lifestyle over the metropolis," he says.
"There's so much potential in this city and we want to be part of growing it."
Bartercard is accepting Small Business Incubator applications until December 23.