Sitting isolated in my home office, I’m envisioning a future that is filled with uncertainty. Life has always been thus as the Future is Fiction, all of us are making it up!
At this time with the challenges of viability, the uncertainty of the outcomes from the Royal Commission, the long term impact of COVID-19, the shift in consumer choice and the increased regulatory focus it is of great significance that the Govt has introduced the Business Improvement Fund – BIF grant program to assist residential aged providers:
- Stream 1: implement a business improvement program (Stay), or
- Stream 2: divest, merge (Grow), or
- Stream 3: close (Go)
In this Pride Insight, we look at how providers might develop a successful applications under the BIF.
Getting started, are you eligible?
To get you started, on whether your BIF application will be eligible and be prioritied, we have developed a self assessment checklist.
Expand the tables below to access the checklist.
To be eligible for the BIF, provider must demonstrate that they:
Will your application be priortised?
Of the eligible providers, funding is targeted towards those who:
If you meet all the above criterion and you ignore the BIF, you do so to the peril of your organisation and the community it serves!
What makes a winning BIF application?
The BIF is like an ACAR in that there is a fixed pool of resources (money) to be distributed.
This means your application needs to:
Putting a compelling application together
PrideLiving has a proud and successful history in submitting winning grant and ACAR applications. When we apply what we have learnt in these areas to the BIF we see the following approaches as maximising your chance of success:
Maximising your chances of success with Pride Living
At Pride Living we’re about helping providers make decisions with confidence. If you are considering areas to improve your sustainability or exiting, our Business Improvement Program and our Restructure Merger Support Program are tailored for your needs.
If you are considering applying for the Business Improvement Grant, give us a call and we will make sure that your opportunity for success is maximised.