Funding & Grants

Sometimes you need money to start, run or grow your business.  Bringing money into your business can come from a variety of different sources; Grants, Investors, Banks and other internal business strategies.

Unsure where to start?  Lets review your options briefly...

Grants 

Come in a variety of different forms and from different providers.  Some grants allocate funds to you, some grants match you dollar for dollar, others are low interest rate grants, some of which are provided with business advice or training.  

Investors 

There are different types of investors ranging from Shareholders to Angel Investors to Venture Capitalists.  This is such a specialised area and choosing the right type of Investor requires a detailed analysis of your business needs and goals.

Banks 

Banks are another type of investor and one of the most popular forms of funding.  Like other investors, banks will look at the return on their investment v's the risk.  In order for them to ascertain this information, they will review your business plan, two years of your financial statements and any assets they can secure to protect their investment in your business.  An alternative to the traditional business loan is the NAB Micro Enterprise Loan.  This loan was created to assist small businesses in getting started, so if you are about to start a business or in the first 12 months of trading this low interest rate opportunity it could be an option for you!

Internal Strategies 

Often the implimentation of internal strategies into your business can be a speedier option for funding than more traditional forms.  Internal strategies can range from a change of infrastructure to a reviewed sales and marketing plan to refinement of trading policies. 

Crowdfunding

Crowdfunding is the collective effort of individuals who network and pool their money online to support efforts initiated by other people or organisations.  Crowd funding is commonly used in to support a wide variety of activities including; disaster relief, citizen journalism, support of artists by fans, political campaigns, startup company funding, movie or free software development, inventions development, creative industries and scientific research.  View websites on organisations such as Pozible, Kickstarter and iPledg.

Helpful Websites For Grants Research

For further Grants and Assistance information use the GrantGuru Business, where the major components of the database are free, Grants & Assistance Finder, or GrantReady online resources.  Please be aware of fake websites offering grants.  The websites may look like they are affiliated with the government, but on closer inspection, many are simply run by unauthorised operators, who often charge a fee to access the grants.

 Where to next?  

Contact our Team to book in with one of our Business Advisors to discuss what options are best suited to you and your business.

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