Monthly and annual budgets are essential for any business.

 

A graph of sales or turnover is a great aid to motivation and focuses management thinking.

 

Security is essential. Have in place the ability to secure cash and documents or records. You may need to consider night safe facilities.

 

Financial Assistance for Small Business
Government financial assistance for small business is generally limited to to the provision of incentives for the development of ideas.

 

At present, the Western Australian Government has several new initiatives to assist existing businesses, inventors and innovators to develop their ideas.

 

Small Business Improvement Program
This program assists small business to develop their potential through subsidies for business planning, marketing or quality assurance.

 

Business Innovation Development Scheme
Inventors and innovators are encouraged to apply for financial assistance for intellectual property protection, marketing strategies, IT or general engineering assessment, and guidance on the development of their idea. 

 

 

Assistance is available through State and Commonwealth Governments. Information about specific programs can be obtained from the responsible department.

 

Valuable sources of information are:

 

AusIndustry BIZLINK is a regularly updated computerised data base of Commonwealth and State Government assistance schemes which can be accessed from Accountants, the Small Business Development Corporation's Business Information Centre or your nearest Business Enterprise Centre.

 

The following publications are also readily available:

 

Arts WA  Arts Investment Handbook 
Department of Family and Childrens' Services  WA Grants Register 
Commonwealth Department for Communication and the Arts  Smart Tactics Assistance for Cultural Businesses 
Commonwealth Department of Industry, Science & Tourism  AusIndustry Business Development Programs (e.g. Business Network Program) and IR & D Programs for research and development
Department of Training  Apprenticeships 
NETTFORCE  Small business traineeships

HOW TO APPLY FOR ASSISTANCE
Usually the government agency providing programs calls for "expressions of interest" through advertising in the newspapers or journals.

 

They always have well defined eligibility criteria and often there is an application form that is available on request.

 

Where no forms are available, your written application is usually compared with other applicants.

In such cases, it is advisable to consider seeking professional help in the preparation of the application, particularly if you have no previous experience. 

 

KEEPING IN TOUCH
To keep up-to-date with new initiatives and programs, you should read the newspapers and business magazines.

 

Networking through your industry association or professional body can also help because quite often it is through their representations that the government provides an assistance program. 

 

ADVICE
Your accountant or financial adviser is probably the best person to talk to.

 

Even though they may not be the funding agency, SBDC or your local SBC can help you with your queries about government assistance.