Four small businesses based in regional Australia will be given the opportunity to unlock and unleash their full potential this year, with Australian fintech Zeller revealing it will distribute $10,000 amongst the businesses as part of a new annual grants program.
The Zeller Regional Small Business Grant will provide four regional small business owners with $2,500 each year, or $10,000 worth of grants annually, to help them navigate the evolving and challenging economic times.
To apply for one of the grants, businesses must be physically based and operate within a shire, council or area with a total population of less than 500,000 people; have an annual turnover of less than $5 million; and have been operating for more than six months.
Melbourne-based Zeller was founded by former Square executives Ben Pfisterer and Dominic Yap in 2020, offering physical payment terminals and a suite of business banking accounts to small businesses.
The fintech has sought to challenge the big banks, including by catering to the needs of regional small businesses through partnerships with the likes of Officeworks.
Zeller’s director of growth Joshua McNicol told SmartCompany the Zeller Regional Small Business Grant is designed to help four small regional businesses get equipped with the technology, resources, and funding needed to succeed in an ever-changing economic landscape.
“We’ve intentionally kept the submission requirements as simple as possible — recognising that business owners, particularly those in regional areas, are busy and often wear many hats,” he says.
“So through a simple nomination process, we hope to reach and support as many regional business owners as we can with this year’s grants, and many more in the years to come.”
McNicol says each of the four recipients will be granted $2,500 to help them achieve the business goals outlined in their submission.
“As part of their submission, we also ask questions to understand what sort of financial products and services they’re currently using in their business — with a view to provide guidance, support, or mentorship to help them better manage their finances,” he adds.
According to the Australian Small Business and Family Enterprise Ombudsman Small Business Matters report from June 2023, almost seven out of 10 Australian small businesses (1.7 million) are located in a greater capital city area and three out of 10 (758,477) operate in a regional area.
As well as launching the Zeller Regional Small Business Grant, Zeller has also debuted its second short film ‘Welcome to Inglewood’, which explores the rural town of the same name in the Loddon Shire of Victoria.
Catherine Norman is the co-owner of Fusspots At Inglewood, a retailer of secondhand wares that she opened with her husband Barry Norman in 2006.
She says the film gives her hope that the community will be able to forge a sustainable future for Inglewood, ensuring its ongoing prosperity.
“As a resident of almost twenty years and small business owner of eighteen years here in Inglewood, I’ve witnessed first-hand the transformative power that community collaboration and innovation can bring,” she says.
“Zeller’s commitment to a small regional town like ours holds immense long-term benefits in revitalising our economy and elevating our town’s allure as a tourist destination.”
When asked by SmartCompany about why regional businesses are vital for Australia’s long-term economic ambitions, McNicol said small businesses in particular play an essential part in building vibrant regional communities.
“Whether it’s a great pub, cafe, antique store, or retailer, regional small businesses give locals a chance to enjoy and mature in their community, while also acting as a destination for tourists to come and visit a regional area,” he says.
“By supporting small businesses to not just survive, but to thrive, in regional communities, we can help to strengthen these communities and help them be an enjoyable place to both visit and live.”
Applications are now open for the Zeller Regional Small Business Grant and businesses have until June 30, 2024, to apply.
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