Deadline: 30-May-23
The Tasmanian Government is pleased to announce an open call for the Round Two of the Small Business Advice and Financial Guidance Program.
Aims
- This program aims to provide eligible small businesses with access to specialist financial services and/or business support to assist in business recovery, transition, growth, or application of other management strategies.
- Eligible applicants will receive a grant to obtain financial or business guidance services from a suitably qualified specialist/consultant to assist with:
- Advice, support, counselling, and the development of strategies to address financial/operational difficulties being experienced by the applicant business.
- The development of risk management strategies.
- Strategic analysis.
- Advice and analysis regarding the management of cash flow, preparation of cash flow budgets and projections.
- Profitability analysis.
- The formulation of financial/operational strategies to assist businesses address the impacts of a disruptive event such as a pandemic, natural disaster, or other similar event.
- The development of business plans and governance frameworks.
- Advice regarding the management of debts and liabilities.
- Advice on pivoting, diversification, product innovation, marketing or online presence.
Funding Information
- Up to $2.2 million has been allocated for this program.
- Applicants will receive a grant of between $750 and $1 500.
Eligibility Criteria
- Applicants will be required to nominate a suitably qualified service provider that will provide specialist financial guidance or business support as part of their application. Applicants will also be required to provide an itemised quote confirming the services to be provided, as well as confirmation of an appointment made with the nominated service provider in order to receive grant funding.
- Late applications will not be accepted.
- Eligible applicants must:
- Be registered for tax purposes in Australia with an active ABN on or before 15 July 2021
- Be a small business with no more than 19 full time equivalent (FTE) employees and be able to demonstrate that the business is currently operating and located in Tasmania
- Be an operating majority-owned Tasmanian business
- Be able to demonstrate an annual turnover of more than $25 000 per annum
- Provide all the required supporting evidence at the time of submitting the application
- The service provider that will be engaged by the applicant to provide the advice and/or financial guidance must be:
- A business that is registered for tax purposes in Australia with an active ABN on or before 15 July 202
- Easily recognised as a business that regularly provides financial and/or business expertise and services, aligned to those to be funded under this program, to a range of businesses
- If an Enterprise Centres Tasmania business advisor, applicants must have used their available free service hours prior to applying
- Notes:
- Only one application per ABN and/or business operation is allowed per round of this program.
- A full-time equivalent employee (FTE) is one or more employees who work 38 hours each week. For example, if one employee works 18 hours per week and another employee works 20 hours per week, the total FTE = 1. The nominated FTE number should exclude the business owner/s.
- Currently operating refers to at the time the application is submitted. The type of evidence required must be linked to the business address stated on the application form. For example:
- A business lease agreement
- A recent utility account (e.g. Aurora Energy)
- A recent business bank account statement highlighting recent business transactions
- Evidence of recent online business activity (e.g. promotion on Facebook)
- Evidence of recent sales of goods and/or services to customers in the days prior to submitting the application
- Any other relevant evidence that demonstrates the business is currently operating in Tasmania
- Turnover is defined as total sales of goods and services to customers by the applicant (exclusive of GST).
- Applicants that were approved for funding in round one of this program will be required to provide evidence of how the funds were used. Examples of evidence could include one or more of the following:
- A report outlining the work undertaken with your service provider
- A receipt of payment you made to your service provider detailing the work undertaken using the round one grant funds
- An email from your service provider detailing the work undertaken
- Any other evidence you consider relevant to demonstrate how you used your grant funds from round one.
Ineligible
- Not-for-profit organisations, incorporated associations, or charities UNLESS the organisation is operating as a business employing paid staff and/or selling goods and services that make up more than 30 per cent of their income.
- Any public company under the meaning as defined in the Corporations Act 2001.
- Any business that is trading insolvent, under external administration or bankruptcy.
- Investment entities including unit trusts that solely generate passive turnover from residential and commercial property investment rentals.
- Any government body, government agency or government business enterprise.
- Applicants who have already been approved to receive a grant in this round of the program. Only one successful application per ABN per round of the program is permitted.
- Applications made and submitted by the nominated service provider on behalf of the applicant business.
- Applications for activities that have already taken place.
- Applications where there is a conflict of interest between the business owner and the nominated service provider (for example, if a familial relationship exists between the business owner and the nominated service provider).
- Third party submissions unless the applicant has provided the third party with written permission to do so on their behalf, and this permission is submitted as evidence with the application.
- Any business that submits an application without the required supporting evidence.
For more information, visit Tasmanian Government.
