Funding to support projects and programs which facilitate workforce development, innovation and building the capability and capacity of businesses and industry to grow regional economies.
On this page you will find
What is the Local Buying Foundation (LBF)?
The Local Buying Foundation (LBF) is a key element of the Local Buying Program (LBP), both delivered in partnership between BHP and C-Res. The Program enables small local businesses to supply goods and services to BHP, BMA and BMC operations via a competitive tender process with reduced payment terms. From each approved work-instructions through the LBP, a small percentage is provided by BHP to the Local Buying Foundation.
From the funding received through the Program, the Local Buying Foundation provides funding to organisations to deliver programs and initiatives that build businesses and businesses communities by facilitating workforce development, innovation and the productive capacity of business and industry to grow the potential of their regional economies.
LBF level of support
Grants
- Minimum amount – not indicated
- Maximum amount – not indicated
- Funding up to 100% of eligible project costs
LBF important dates
New South Wales 2024
- Round #1 closing: 5 April
- Round #2 closing: 20 September
Queensland 2024:
- Round #1 closing: 9 February
- Round #2 closing: 19 July
South Australia 2024:
- Round #1 closing: 10 May
- Round #2 closing: 18 October
Western Australia 2024:
- Round #1 closing: 1 March
- Round #2 closing: 30 August
Register your interest here with GrantHelper
LBF objectives and priority areas (or categories)
1. Business and Industry Innovation
- This category focuses on funding proposals which seek to deliver ‘innovation infrastructure and services’, including facilities, resources and services used by researchers, educators, business and industry to conduct research and foster innovation. This includes facilities such as shared workspaces, ‘maker spaces’ and business incubators, accelerators and programs where research, knowledge and data can be connected with entrepreneurial ideas to grow high-value and innovative businesses.
2. Workforce Development
- This category is focused on funding applications for proposals which are aimed at helping regional economies to equip themselves with the skills, knowledge and capabilities required to adapt to new economic opportunities as they arise and to thrive in a constantly changing environment. It is focussed on workforce planning and development programs and education and training initiatives which will build workforce capacity by addressing the skills needed to equip the workforce of the future.
3. Indigenous Economic Development
- This category is focused on funding proposals which seek to promote economic development by facilitating the involvement of Indigenous people in employment, business, asset and wealth creation in the communities and regions where they live. This includes initiatives which seek to provide opportunities for Indigenous people to access business and workforce development.
4. Micro-business and SME Capacity-building
- This category is focused on initiatives that will serve to facilitate the development of basic business knowledge and business capabilities and enhance the innovative and productive capacity of local industry. It is focussed on the delivery of programs which provide information on and access to business support services; basic business training and business planning; or information on programs that facilitate access to finance to help establish and grow commercially-viable small and medium-sized businesses.
5. Industry Promotion and Economic Development
- This category is focussed on funding proposals which seek to build on the local region’s comparative and competitive advantages, to help emerging and expanding industries to develop and grow. It includes, for example, the preparation of local / regional economic development strategies, industry-specific planning studies and strategies, regional industry marketing plans and industry investment prospectus materials or investment attraction strategies.
6. Sponsorship of Business Awards, Conferences and Business Events
- This category is focused on continuing the Local Buying Foundation’s support for local business events, awards and conferences which occur on an annual basis and which do not need to complete the full application /approval process. See Sponsorship Guidelines for more information.
B.I.G Futures Fund Applications
The Local Buying Foundation aims to support Business, Economic and Industry Groups (B.I.G.) facing significant challenges during the key times of economic change.
Originally created in response to the rapid needs of business groups during COVID-19, the B.I.G. Futures Fund Financial assistance is available for those sectors to continue delivering services to their membership base and reduce the impact of business as usual activities due to the current disruption caused by the significant event.
LBF remains accessible for funding requests outside of the set funding rounds for projects that align with the LBF categories and the need for funding is caused from an emergency or an opportunity has come about that would not want to be overlooked.
Examples of when B.I.G Futures Funding may be applied for are:
- Community Disaster/Pandemic (Covid-19, Cyclone etc).
- New government funding opportunities which require other funding contributions or matched contribution to access the funding.
- Last minute opportunities – if organisation is able to secure opportunities that require quick action and offer benefits to members and business communities.
Note: Prior to submitting a B.I.G Futures Fund Application, project applicants must contact the Local Buying Foundation prior to submission.
Projects and expenditure eligible for LBF support
To apply for funding through the Local Buying Foundation, submissions must meet the
following eligibility criteria:
- Project directly supports the eligible communities.
- Project objectives align with one of the six key funding categories.
- Project must be open to all businesses in the region to access and not be exclusive to certain groups (exceptions may include – women in business, Traditional Owner and Indigenous businesses, etc).
- The project has not already occurred, and funds are not being sought retrospectively.
- Funding request cannot be for capital works, infrastructure including buildings and building improvements, tenancy/leases.
- Funding request cannot be for funding applicant’s business as usual activities.
See the guidelines for full details of projects and expenditure eligible for LBF support.
Other LBF important details that you will need to know
Organisations eligible for LBF support
Applicants must meet the following eligibility criteria:
- Application is not from a Government Entity, School or Commercial Business.
- Applicant organisation must have a formal governance structure and/or registered with the appropriate government bodies.
- Applicant organisation has demonstrated capacity, financial stability and leadership to support this project.
- The organisation is of reputable standing, and their project is supported by key community stakeholders.
The project must benefit businesses in or across the LBF Regions/Shires of interest below:
- QLD: Central Highlands, Isaac and/or Mackay
- NSW: Muswellbrook, Singleton and/or Upper Hunter Shire
- WA: Shire of East Pilbara and/or Town of Port Hedland
- SA: District of Mount Remarkable, Port Augusta City Council, Port Pirie Regional Council, Roxby Downs Council, Whyalla City Council, Outback Communities Authority.
See the guidelines for full details of organisations eligible for LBF support.
LBF assessment criteria
Applications are assessed against specific project success criteria, including:
- Impact – within and across communities in both the short and long-term
- Sustainability – potential for the project to become financially self-sustaining.
- Cost Effectiveness – value for money and ability to leverage funds through other sources.
- Project Alignment and Practicality – achievability of proposed scope of work.
- Project Agility and Flexibility – identification of project risks, mitigation strategies and ability to respond to changing needs of the project.
See the guidelines for full details of the assessment criteria.
How do I get the LBF?
Applicants must:
- Read and understand the guidelines.
- Ensure eligibility for the funding. Applicants that do not meet all the eligibility criteria will not be considered.
- Deliver the project as outlined in the application.
- Provide complete information requirements.
All applicants are required to review and comply with the BHP Charter Values, Code of Business Conduct and the LBF Charter.
Information to prepare for the LBF application
The following are suggestions to make a strong application and are highly recommended including in all funding applications (excluding sponsorships), especially if they are large projects:
- Letters of Support: Ensure that the letters of support are from valuable partners that will benefit from this type of project or can provide an industry outlook on why this project is needed. Letters of support are also important from other funding partners.
- Research / Data Evidence: Projects that have supporting information on why there is a need for the type of project through the support of data whether through survey results, feasibility studies, strategies etc. If the project is a continuation from a previous project, ensure that reports are provided on success of previous projects.
- Other Funding Partners: The submission will be looked upon favourably if you can demonstrate confirmed funding from other funding sources. Having other funding partners onboard, shows that there are more supporters for the project and show the project applicant has worked with other organisations to obtain funding.
- Comprehensive Budget: Ensure that budget items are broken down and budgets are clear to understand. Evident may be requested in relation to project management costs and how this differs from day to day tasks. If project includes a salary, please outline the award the salary is to and why.
- Detailed deliverables and success measures: The deliverables and success measures will be used when developing a letter of agreement and key performance indicators to report on. If these are not substantial enough, if the project is approved the Project Officer will work with the applicant to develop these success measures.
See the guidelines for full details of information requirements.
Applying for the LBF
Eligible applicants must submit a complete online application form found in the localbuyingfoundation.com.au website.
Register your interest here with GrantHelper to explore your alignment with this program and how we can assist you to increase your chances of success.
LBF resources
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