AU: Coles announces fund to help small growers
Coles will allocate grants and interest-free loans over five years using the Nurture Fund to allow small businesses to invest in the development of new market-leading products, technologies and processes to improve their operations and provide better value for Aussie consumers.
“The establishment of the Nurture Fund is a boost for the Australian vegetable and potato industries, as it will support small businesses in their efforts to remain competitive in an ever-changing global marketplace,” said AUSVEG Deputy CEO Andrew White.
“The fact that Coles, one of the biggest retailers in the country, is supporting local business innovation and development through such a substantial fund sends a strong message that it has confidence in the industry’s long-term viability and prosperity.”
The Nurture Fund, which was announced today, will be open to businesses with less than $25 million in annual revenue and 50 or fewer full-time employees.
“This Fund will enable growers to be more entrepreneurial and invest in exciting new business opportunities, rather than being forced to direct all of their funds into their day-to-day operations. That Coles is investing such a large amount of money into Australian industry is a timely acknowledgement of the hard work and dedication that our growers employ in producing the safe and high-quality produce that Australian consumers enjoy every day.”
Small businesses that are eligible for grants can submit requests for funds, along with their business plan, for review by the Coles Nurture Fund. Applications are available at www.coles.com.au/nurturefund, and applications should be submitted to nurturefund@coles.com.au.
For more information:
Shaun Lindhe
Ausveg
Phone: +61 (03) 9882 0277
Email: shaun.lindhe@ausveg.com.au
www.ausveg.com.au