Assistant Minister for Education and Training, Senator Simon Birmingham, said the ISF is helping Australian businesses grow and compete in an increasingly global market that will help boost productivity and competitiveness across the economy.
The iconic South Australian ice cream manufacturer, Golden North Pty Ltd, is one of the first businesses to secure funding under our Government’s $476 million ISF.
Golden North will benefit from $40,000 through the Fund to assist in the cost of training 30 of its staff. Upon completion of their training, staff will receive a Certificate III in Competitive Systems and Practices.
Golden North has identified the need to expand into new markets. The funding it will receive under the Fund will help develop new opportunities for the company in China and South East Asia.
Already 12 Australian businesses will reap the benefits from the ISF totalling over $140,000 so far, and I look forward to seeing the positive impact it has on the growth of their business.
The ISF is targeted at small and medium sized businesses that need to upskill or retrain their workers so their business can diversify or take advantage of new market opportunities. Larger businesses can also apply.
Employers will be supported to decide what training is needed in their business, and which training provider they want to work with. Already, 90 requests for skills advice have been received.
Senator Birmingham said, “With better trained employees, Australian business will be positioned to diversify into new markets, adopt new technologies, enter export markets and create more jobs,” .
Under the ISF businesses are required to make a contribution to the cost of training, with the Government covering the rest of the cost. The co-contribution rate depends on the number of employees, with smaller businesses receiving higher levels of support.
Applications will be accepted on an ongoing basis throughout 2015. Further information, or to apply for the ISF visit: www.business.gov.au/skills and training.