Madeleine Ogilvie,Minister for Small Business
The successful COVID-19 Small Business Advice and Financial Guidance Program has supported 375 small businesses through funding totalling more than $550,000, with round two set to open in July.
We recognise the impact that the pandemic has had on Tasmanian small businesses, and their need to have access to specialist financial and business advice to assist them to recover, transition, grow or apply new strategies.
Many businesses continue to experience cash-flow difficulties, as the result of working capital stress, or need assistance to diversify or change business operations.
To support these small businesses, $2.2 million has been allocated to maximise the opportunity for ongoing support and giving businesses the opportunity to access specialist advice to assist with these circumstances through the COVID-19 Small Business Advice and Financial Guidance Program.
Grants of between $750 and $1,500 are available 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 and/or operational difficulties.
Funds can also be used to develop risk management strategies, business plans and governance frameworks, as well as to undertake other analytical and strategic activities.
The top five topics businesses are accessing this funding for are:
*Advice, support, counselling, and the development of strategies to address financial/operational difficulties you currently experience;
*Advice and analysis regarding the management of cash flow, preparation of cash flow budgets and projections;
*Profitability analysis;
*Advice on pivoting, diversification, product innovation, marketing or online presence; and
*Strategic analysis.
Round one of the program closed on 30 May and is currently being reviewed to ensure currency and provide the best support available to the small business sector.
There is no greater supporter of Tasmania’s 39,000 small businesses than the Tasmanian Liberal Government, as we recognise that the small business sector is crucial to growing our economy and creating jobs.
