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Aug 25, 2014

Welcome to Accountants Minute. I’m Peter Towers, managing director of ESS BIZTOOLS.

The Australian government’s Business Evaluation Program, which can then lead to a business being eligible for Business Growth Grant, is great news for some businesses operating in the tourism industry.

To be eligible, businesses must derive a significant portion of their revenue from tourists. The types of businesses include:

• Tourism Accommodation
• Tourist Attractions
• Local Food and Beverage Tasting Experience
• The operation of Tours
• The operation of Travel Agency Services

Eligible businesses must be operated by a company or a company acting as trustee of a trust. The turnover in most populated areas of Australia needs to be a minimum $1million, with a maximum turnover of $100million.

Grants that are available are up to $20,000 on a 50% grant basis.

If you have any clients whom you think might be eligible for these grants, in the first instance, you should be contacting the Entrepreneurs’ Infrastructure Program and talking to a business adviser.