Essential guide to business funding

A Guide to Business Funding developed by the Australian Small Business and Family Enterprise Ombudsman in partnership with Scottish Pacific Business Finance, has been released. This has been revised to reflect feedback and support small businesses impacted by the COVID crisis.

The independent guide provides comprehensive up-to-date information about a range of funding options available to small businesses, along with a step-by-step pathway to becoming ‘finance fit’ to give small businesses their best chance at success with the application process.

Kate Carnell, Australian Small Business and Family Enterprise Ombudsman, said: “While restrictions are in place, and during the recovery period afterwards, businesses should continue to be eligible for government support, including grants, wage subsidies, loan deferrals, and rent waivers and deferrals, but this additional and temporary support does not and cannot take the place of the range of debt and equity options…which will continue to be the main ways that business can fund their survival, reinvention, and growth.

“The current economic environment has two important implications for small business. Firstly, it’s critical to get financially fit. That means keeping good financial records and building strong business plans, including cash flow projections. Secondly, it’s more important than ever to be aware of the full range of finance options available.”

Please contact your local TaxAssist Accountant for advice with any of the above. We’re here to help your business to become ‘finance fit’.

 

Date published 1 Dec 2020 | Last updated 10 Dec 2020