About the program
Ready for Growth is supporting Victorian businesses with high growth potential to access new markets and expand their business.
The program is being delivered by Business Victoria with partner and world-leading financial services organisation, BDO Australia. The program will support 1000 businesses and is available until 1 June 2024.
Participants will receive tailored advice and support from an expert growth facilitator matched to your business with relevant industry experience.
Our growth facilitators will provide advice that may help to improve your business performance, solve operational challenges or help you make the right decisions and changes.
See how businesses are benefiting from Ready for Growth - from a craft distillery on the Mornington Peninsula to a virtual reality studio in South Melbourne, businesses across all industries have been able to clarify their growth trajectory and plan for the future with Ready for Growth.
- Receive up to 14 hours of tailored advice from an expert with matched industry experience to strategically plan your business’ goals and growth
- Create a growth action plan for success that could include:
- hiring and managing staff with confidence
- strategies to make faster business decisions with clarity
- reaching new customers and increasing profits
- finding solutions to operational challenges
- Find grants and services to support your business’ growth
- Connect with other business owners and networks through the Ready for Growth alumni network
Ready for Growth is a Victorian Government initiative that will support 1,000 Victorian businesses with high growth potential to grow their business, access new markets and create jobs.
This program is being delivered by Business Victoria and BDO Australia.
To participate in the Ready for Growth program, submit an Expression of Interest on the Business Victoria website.
Successful participants will be notified by email and can start their Ready for Growth journey by completing a Growth Assessment.
Participants can review their results by creating an account in the Ready for Growth Portal.
Participants are then matched with an experienced Growth Facilitator from BDO Australia who will work with them to build a Growth Action Plan and find suitable grants and services to support their business.
Participants will have regular virtual meetings with their Growth Facilitator and work towards achieving their Growth Action Plan.
Graduates from the program can join the Ready for Growth Alumni to attend events, connect with other program participants and network with like-minded peers.
To get started visit business.vic.gov.au/readyforgrowth.
Who is eligible?
To participate in Ready for Growth, a business must:
- be registered and operate in Victoria
- have a valid Australian Business Number (ABN) and WorkCover Employer Number (WEN)
- have been operating for at least three years
- have more than four employees and fewer than 200 employees
- have an annual revenue of less than $20 million
- meet all industrial relations obligations in accordance with the National Employment Standards
We will also consider the following factors when selecting businesses to participate in the program:
- A demonstrated track record of growth or intention to grow. For example, the business is export-ready, has plans to expand with more jobs, and/or is purchasing new machinery.
- Priority sectors that align with existing government trade relations that may be leveraged, or that have identified growth opportunities.
- The geographic location of a business as it aligns with government priorities, and to ensure equitable access to businesses across the state.
Please refer to the Participant Guidelines for more information, including:
- expression of interest process and eligibility
- terms and conditions of participation
- user journey
- privacy statement
Submissions of Expressions of Interest for this program will close on 1 June 2024 or when fully subscribed, whichever is earlier.
Frequently asked questions (FAQs)
How to apply
Before submitting an expression of interest, please ensure:
- your ABN registration information is current and accurate
- you meet the eligibility criteria
- you understand the participant guidelines
Each expression of interest will be carefully considered and assessed against the participation requirements. We will invite businesses to participate in the program at our discretion, including the timing and order of participation.
Please complete all questions in the expression of interest application and provide the requested information to ensure a timely assessment.
If you have any queries about your application or need more information about the program, please contact us during operating hours for assistance. We are available via phone, email and live chat.
If you require a translator, please call the Business Victoria hotline on 13 22 15 and let our operator know. They will call the Translating and Interpreting Service for you.
How does the expression of interest process work?
- We will assess each expression of interest against the eligibility criteria, taking into consideration the priority and timing of a business’ participation.
- We will endeavour to provide an applicant with their outcome within 30 business days.
- If a business accepts an invitation to participate in Ready for Growth, it must fully participate in the program, including attending scheduled meetings and completing agreed tasks (Refer to the Participant Guideline section 4 for more information on the terms and conditions of participation).
What can I expect as a program participant?
- Successful program participants will first be asked to complete a growth assessment on BDO’s website and create an account for the program portal.
- Based on the growth assessment results, they will be provided with a personalised growth potential snapshot that can be accessed through the portal.
- Participants will then be connected to a growth facilitator, who will help build a comprehensive growth action plan.
- Business Victoria and BDO will allocate program participants into one of two program streams: Accelerated Growth and Facilitated Growth.
- Over the course of the next several months, program participants will have regular virtual meetings with their growth facilitator to ensure they stay on track to achieve what’s set out in their growth action plans.
- Graduates of the program join the Ready for Growth Alumni Network to stay connected with peers.
- Program graduates may be asked to complete an evaluation survey up to three years after participating in the program.