Business Improvement Fund for Residential Aged Care Providers – Round 2

Overview

The Australian Government has announced up to $96.8 million (GST Exclusive) over two years to 30 June 2023 for the Structural Adjustment Program. For the Business Improvement Fund (BIF) - Round 2 grant opportunity up to $22 million (GST Exclusive) is available. BIF was originally announced in January 2020 as a program to support residential care providers to improve their business operations, support the sale of an aged care business to another provider, or to support the orderly exit from the sector of providers where appropriate. BIF – Round 2 is primarily aimed to support small to medium sized residential care providers (i.e. with 7 or less facilities) that are facing financial pressures which may impact on their ability to offer quality care to residents in regional, rural and remote locations. Other providers may be considered for funding, for instance where they: operate a facility in a thin market or provide facilities to under-serviced, specialised or complex-needs cohorts (even in a metropolitan setting).