SMALL business will be helped to 'go green' with a new initiative unveiled by Federal Small Business and Tourism Minister Fran Bailey.

Funding of more than $8 million is available for training providers to assist small business to go green.

Training to help small business with recycling and energy efficiency initiatives is an example of the kind of project that could secure funding.

"Going green is good for small business. Not only can small business achieve substantial cost savings, they can also do the right thing by the environment," says Ms Bailey.

"I encourage training providers to apply for funding.

"If we can get good applications, we can help more small businesses to go green. We can also open up new sales opportunities for small business in the booming field of environmental management and services."

The funding is available under the Australian Government's Building Entrepreneurship in Small Business program. The program provides funding typically from $100,000 to $300,000 to service providers in the areas of skills development, with an emphasis on themes and succession planning.

Apart from environmental best practice, a second theme will be financial management, which will help small businesses hone financial skills and improve their access to capital.

"Improved financial skills is a must for many small business operators," says Ms Bailey.

"With better skills, small businesses can improve their cash flow and bottom line. Small business operators will also find it easier to access start-up or expansion capital from banks or financial institutions."

Visit AusIndustry's website at www.ausindustry.gov.auor or call the hotline on 13 28 46 for details. Applications close on July2.