Frequently asked questions

To be considered for Ready for Growth, businesses must meet the following program requirements:

• be a legally structured business in Victoria
• have an Australian Business Number (ABN)
• have been in operation 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 as an employer in accordance with the National Employment Standards.

The Department will also consider the following factors to prioritise the order and timing of participants into Ready for Growth.

• A demonstrated growth track record or intention to grow. For example, the business is export ready, has expansion plans with job creation and/or purchasing new plant and machinery.
• Priority industry sectors: a business’s primary business activity as reflected in the business’s ABN registration information. Businesses should check that their details on the Australian Business Register website are correct prior to submitting an expression of interest. This includes ensuring that the industry classification (ANZSIC class code) linked to their ABN registration correctly captures their primary business activity.
• Business location: a business’s primary business address as reflected in the business’s ABN registration information.

To maximise the benefits of the program, DJPR will also consider the industry sector that the business operates in as part of the selection process, which may also influence the timing of your invitation to participate.

The Victorian Government’s Ready for Growth program will support 1000 high growth businesses located in Victoria over the next two years.

No, there are no costs associated with participating in Ready for Growth, however you will need to invest your time. We expect participation in the program will involve seven to fourteen hours.

If you are interested in participating in Ready for Growth you may submit an expression of interest at the Ready for Growth webpage (insert EOI link). All fields in the expression of interest form must be answered to enable timely assessment.

Your expression of interest to the program will be assessed by DJPR. If successful, the timing of your commencement of the program will be subject to demand, the type of industry your business operates in, and geographical location.

The Growth Facilitator will help your business to:

• Develop a Growth Action Plan
• Find grants and programs to support growth
• Improve connections to networks and ecosystems
• Connect to peers through the Alumni Network

No. You can only participate in Ready for Growth with one business at a time.

BDO Australia is the delivery partner supporting Ready for Growth. BDO is one of the world’s leading audit and accounting organisations. The Growth Facilitators within BDO have been hand-picked because of their industry experience and knowledge of how to support businesses to achieve their growth potential.

Businesses must meet the Requirements of Participation to submit an expression of interest via the Business Victoria website. DJPR will assess applications within 30 business days of submission, and eligible businesses will be invited to participate in the program. Businesses that are invited to join the program must respond to accept the invitation to commence within 30 days.

Yes. The Ready for Growth participant can request access to their business portal for additional members of their organisation via their Growth Facilitator.

We understand that sometimes the unexpected does happen. Please take a screenshot of the problem/error message and email readyforgrowth@bdo.com.au.

Yes. The business must have a Victoria headquarters. To demonstrate this, the main business location of the applicant’s ABN must be listed as being in VIC on the Australian Business Register at the time of application.

If the ABR listing for the applying business doesn’t list as the main business location, you must provide evidence of a Victoria headquarters in writing to readyforgrowth@bdo.com.au.

Evidence of Victoria Headquarters includes:

• A copy of the applicant’s Australian Securities and Investments Commission (ASIC) Company Statement listing a Victoria address as principal place of business or;
• A letter from the applicant’s account confirming the business has changed to a Victoria main business location.

Businesses who register an expression of interest will be assessed in order of submission (see Participant Guidelines [insert link to Participant Guidelines] and according to the Requirements for Participation. The type of industry your business operates in, and geographical location may influence the timing of your invitation to participate in Ready for Growth.

Businesses that don’t meet the requirements to participate in Ready for Growth may be eligible for other forms of support. Please visit Business Victoria | Business Victoria for more information.

You or an authorised representative of your business will receive an email from Business Victoria inviting you to participate. Within the email will be a link to the Ready for Growth portal hosted on the BDO website and a unique user code to start your Ready for Growth journey.

You need to have a unique user code, provided by Business Victoria, to unlock the Ready for Growth portal. If you don’t have a valid unique user code, you will be re-directed to lodge an expression of interest on the Business Victoria website.

Yes, the unique user code is directly linked to your business and only one unique user code will be issued per business. It identifies your business as a Ready for Growth participant.

You will have regular one-on-one virtual meetings with your BDO Growth Facilitator at agreed intervals. We expect you to invest between seven to fourteen hours of your time throughout the duration of the program.

Ready for Growth has been modelled on successful international programs and involves a self-assessment of business strengths and weaknesses. The program will assist Victorian businesses to identify opportunities to grow and succeed. Participants will be directed to the Ready for Growth portal on BDO’s website to commence the program.

Program steps:

1. Submit a Growth Assessment.
2. Create an account to access your results and set up your Portal.
3. Based on your answers, you will be matched with a Growth Facilitator who will determine which program stream you will participate in.
4. Work with your Growth Facilitator to build a robust Growth Action Plan.
5. Meet with your Growth Facilitator regularly and work towards your goals.
6. Graduate from the program and transition to the next phase of growth.

No. You will be matched to a BDO Growth Facilitator that suits your business needs and industry sector.

To set up a clear purpose and to make more meaningful progress meetings, only the program participant can attend the sessions unless otherwise negotiated with BDO Growth Facilitator.

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