The Industry Skills Fund (ISF) provides businesses with access to training so that they are better placed to succeed in a rapidly changing environment. The ISF provides training places and support services for industry across Australia.
Types of assistance available under the Fund
Identification of opportunities to maximise training outcomes. Experienced skills advisers will work with you to:
- Understand your growth opportunity
- Identify the skills needed to help increase competitiveness and achieve the growth opportunity.
Co-investment with businesses to improve the skills of their workforce for an identified growth opportunity.
The Fund operates a co-contribution model where businesses that are awarded funding must financially contribute to the proposed project. The required contribution amount (percentage of total project cost) is dependent on the size of the business determined by full time equivalent (FTE) staff levels:
- Micro business (0 – 4 FTE) – 25%
- Small business (5 – 19 FTE) – 34%
- Medium business (20 – 199 FTE) – 50%
- Large business (200+ FTE) – 75%
Co-contribution amounts for businesses operating in or seeking to expand into Northern Australia are lower:
- Micro, Small or Medium business (0-199 FTE) – 25%
- Large business (200+ FTE) – 50%.
Businesses must cover in full, all costs not directly attributed to the delivery of the training and contributions cannot be in-kind.
Types of businesses the fund will assist
The fund focuses on small and medium enterprises, including micro businesses but does not exclude large businesses. Businesses within the following industries will be given priority; however, businesses from other industries are encouraged to apply.
- Food and agribusiness
- Mining equipment, technology and services
- Medical technologies and pharmaceuticals
- Oil, gas and energy resources
- Advanced manufacturing; and
- Enabling technology and service industries that support one or more of the priority areas listed above.
To find out more please fill out the contact us form and one of our team will get back to you.