What is the Small Business Funding Guide and how can it help my business to access much needed capital injection?

By Alexi Boyd | Tuesday October 29

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd from Boyd Office Management Services
Date: 29 October 2019

Back in July, I interviewed Kate Carnell, Lielette Calleja, Director of All That Counts and Peter Langham, CEO of Scottish Pacific who collectively launched the new Business Funding Guide. It was refreshing to see industry heavyweights Scottish Pacific using their data collected from years of small business reporting for the power of good. When the office of the Australian Small Business and Family Enterprise Ombudsman noticed a trend they decided to work with Scottish Pacific to develop a framework to support small business in becoming financially fit.

It’s a great guide; assisting small business to understand the how, the why and the practical strategies to prepare for funding applications – no matter the funding you’re seeking.

So what is the Small Business Funding Guide and how can it help my business to access much needed capital injection?

Today we bring together three experts in their fields to help you the small business owner to understand what a guide like this one can do to educate you about being financially fit, the different types of small business funding out there and what it can do to really grow your business.

Lielette Calleja from All That Counts is a seasoned finance professional and accounting advisor who knows at the front line what it’s like to see business rise and fall. David Rose is here from Scottish PAcific to tell us about how and why the guide came about and we also welcome Harry Grewal, the co-founder of Hiller’s Transport to share with our listeners the journey he’s been on as a hugely successful small business owner.

Welcome to the show Harry, Lielette & David.

Topics we’ll be covering:

  • David, tell us about how this funding document came together and why you’ve partnered with Kate Carnell’s office to deliver this guide
    • About the Guide
    • Why Kate’s office?
    • What Scottish Pacific’s research into small business funding was telling you about the collective needs of small business?
    • Why partner with business advisors to get this message out?
  • Lielette, you often ride the waves with small business owners and can see first hand what a lack of funding expertise and access to capital can do to
    • In practical terms, what does it mean for a business to be financially fit?
    • How do you as the business advisor deliver this guide?
    • In your opinion what can this guide deliver to the typical small business owner
  • Harry, tell us about your small business journey and what a guide like this would have meant to your business as you were growing
    • Did you always consider yourself to be financially fit?
    • What’s the best advice you can give a small business growing too fast?
    • What’s the biggest mistake you made when in a growth phase?
  • All
    • When is the best time to seek funding?
    • When should you NOT be seeking funding?
    • Why is it important to be mindful of your mental health fitness in this process?

To find out more go to their websites: https://www.asbfeo.gov.au/resources/business-funding-guide

BIOS:

David Rose is a senior member of Scottish Pacific’s executive team. Since arriving in Australia from London, David has more than 25 years of experience in the Australian financial services sector and has held senior management roles with Commonwealth Bank Group (CBA), National Australia Bank and PricewaterhouseCoopers.  

Prior to joining Scottish Pacific in November 2016, David was Head of Finance for the Technology and Operations Division of CBA and before that was CFO for Bankwest Retail during their national expansion. 

David holds a Bachelor of Science from Manchester University in the UK and is a qualified ACA and member of Chartered Accountants England and Wales.

Lielette Calleja is the 2019 Accountants Daily Editor's Choice Winner & a Small Business Accounting Advisor with All That Counts.