Business Improvement Grants program shows its merit
The Business Improvement Grants (BIG) program of the Northern Beef Futures (NBF) project is an incentive-based program to stimulate pastoral enterprises in the Kimberley and Pilbara to embrace practice chance.
The sub-program aims to enhance producers' competitiveness and growth prospects by connecting them with business advice and mentoring support.
As a ‘behind farm gate’ element of the NBF project, the program is most visible to industry and aims to lift productivity and profitability by providing support to the pastoral sector within the industry as a whole.
The program has two parts. Part One is a business improvement review through engagement with a consultant and the development of a business management plan with key performance indicators, followed by two annual reviews (milestones two and three).
Part Two is the business improvement implementation phase, during which each participant implements prioritised strategies that are identified by them and outlined in their business improvement plan.
Progress to date
- 48 applicants have completed Part One milestone one, and of these, 21 participants have completed milestone 2. A further 20 applicants have confirmed they intend to complete milestone two in the near future.
- 43 applicants have applied for Part Two (implementation phase) and of the 43, 42 applicants have been reimbursed.
- A total number of 17 consultants were engaged by applicants and, through this sub-program, an understanding from enterprises on what will drive productivity on their enterprise has been achieved. Four case studies on BIG recipients have been developed.
Expenditure on the BIG program has gone into the regional economy through the engagement of local consultants (all but one are from Western Australia) for Part One, or regional businesses, for example merchandise companies, for Part Two.
The true value of the program is that it is a catalyst to engage with industry stakeholders, through established relationships. This engagement will provide the pre-conditions to driving change and allows a conduit for information flow to and from industry.
The opportunity now exists to analyse the key performance indicators that have been received, and will continue to be received, into the coming year (milestones two and three).
This data, whilst being mindful of external factors, can be analysed for performance across different regions or by different categories and identify where assistance is best targeted in the future.
For Part Two, the Northern Beef Futures is now at the stage where we can begin to engage with industry by sharing what participants implemented, how they have benefitted, and some of the difficulties they have experienced.
This is intended to be achieved through fortnightly testimonials from producers and/or short videos conveyed through the voices of industry stakeholders.
Part Two also allows us to analyse the key themes being implemented and where future workshops, research and development may be beneficial.
The Northern Beef Futures project is supported by Royalties for Regions.
For more information on the BIG program, contact Productivity and Profitability manager Trevor Price in Broome on +61 (0)8 9194 1441 or trevor.price@dpird.wa.gov.au