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- Improving Profit Potential - Financial Management - Queensland Tourism Network Grant Scheme - Finance Options - Tourism Assistance Database

Finance Options

Working out how much finance your business needs, sourcing capital and managing your finances are important considerations for small business.

Funding can assist with business start-up, expanding your business (from minor additions through to major redevelopment), or with implementing specific projects (e.g. product development, staff training).

Funding can be sourced from a variety of different avenues such as:

Banks
Building societies
Credit unions
Finance companies
Australian, state or local government agencies
International agencies

It can take many forms, including:

Loans for businesses, community organisations, employers, registered training organisations or individuals
Overdrafts
Grants (which are usually one off funding provided by an organisation or agency)
Programs (which are usually an ongoing source of funding provided); and
Partnerships

If you think that a Grant will be able to assist you with your business it is important to remember that you will need to commit time to prepare your submission and if successful, time to satisfy the reporting requirements.

For further information on Grants that are relevant for the tourism industry in Queensland visit TAD, the Tourism Assistance Database.

There are five critical factors that should be considered when determining which finance option is the best:


Assessment Factor	Issues Addressed
Character	Honest, reliable, trustworthy Integrity Creditworthiness Track record, if any, in business Business skills and acument
Capital	Financial strength Quality of assets Liquidity of assets Debt-equity ration
Conditions	General economic outlook Conditions in your industry Implications for profitability and debt servicing capacity
Capacity	Ability to service the loan and meet other commitments Ability of your business to withstand a setback Your capacity to manage the business profitably
Collateral	Your willingness to pledge security Nature and acceptability of security offered Adequacy of security

You should also consider seeking advice from a professional business advisor, accountant or solicitor.


Resources The Capital Raising Unit at the Department of Employment, Economic Development and Innovation manages the Queensland Capital Raising Pipeline project which teaches business intenders and owners how to access capital.