Is anyone aware of available grants or if it's even possible to apply for a one man shop starting out to be able to apply for funding to get off the ground? I don't have any funds but I have an idea that I think I can make a living from but just need financial help with setting up equipment and premises to run from.
Grant(s) for Starting a New Business
Mary Poppins on 25/02/2017 - 12:23
Last edited 26/02/2017 - 11:35
Last edited 26/02/2017 - 11:35
Comments
I'm thinking around 80K-100K should give me a substantial start?
There is some minor assistance available if you are a Newstart recipient, but it is basically just paying the dole for a while while you get up to speed, hundreds of dollars but not thousands.
The way small businesses needing $100k get started is to refinance their house and use the money released from a bigger mortgage to set up.
Otherwise, save, borrow from friends and family and take out a personal bank loan etc.Thanks for your advice ;-)
Thanks for the link but I only found mentoring assistance on there?
Whats the idea?
Vinyl car wrapping
They make cars out of vinyl?
(who knew?) :+)
$80k is a big ask for someone that doesn't have a plan.
As previous say you are asking a lot for an ‘idea’, without having saved anything to contribute yourself.
You can look up goverment's NEIS - New Enterprise Incentive Scheme, and see if you are eligible. I am quite sure it does not provide anything close to what you are looking for. You have to attend their business course, and they will have to approve your business plan as feasible and viable and comply with certain requirements before there will be funds released.
Thanks - I will!
Hmmm, maybe start small with your own money and get some work and then expand. Sounds like a crazy new age idea but it might just work.
Thanks altomic… I'm hoping so… it seems to be a new upcoming lucrative business (if you know what you're doing) ;-)
vehicle wrapping is hardly a "new upcoming, lucrative business" - my husbands and my business have been doing it for over 15years. It is not as easy as it looks - it takes a lot of talent to wrap a vehicle professionaly - talent, training and hard work. Do you know what machinery to buy? what media suits which vehicle the best? which requires overlaminating? how to prepare artwork to suit the vehicles miniscule dimensions and crevices. Are you going to have a large, dust free warehouse to wrap these vehicles in. out of the sun and weather? Will your $80K cover an airconditioned print room that these printers require? Will you have a second trained and talented person to assist you as the vinyl for these vehicles is usually at least 1370mm wide and very difficult to apply single handed.?
Other companies already do vinyl wrapping for cars, as do most printer / banner places
is your idea going to be any different to whats already out there
not to dampen your spirits but without a plan, short and long term goal, you really are wasting your time until you get some ideas into concrete and develop a business plan
If you're investing in a meth lab powerhouse, id be happy to finance some of it.
Now the AFP will monitor you!
law enforcement are struggling to cope with the existing meth outbreak. A new lab will blow under the radar for a while. Go for it.
Only if you are aboriginal. Grants are a plenty.
https://www.business.gov.au/info/plan-and-start/start-your-b…I sincerely hope that taxpayers money to the amount of $80k is NOT provided to someone with no business plan and as, shall we say, inexperienced, as this. I don't want my money ending up in your hands.
Tell me honestly, do you even know how to write a business plan? If not, why do you think the mentoring service is not for you?
Did I say I was inexperienced? Did I say I didn't know how to write a business plan and what's a mentoring service going to do… give me the funds to buy the equipment I need? Thanks for your comments but why so negative!??
Yes, you did say those things. You said "I have no idea how to go about it." Also, the fact that you say "I'm thinking around 80K-100K should give me a substantial start?" with a question mark means you have no idea how much you need, ergo, you have no business plan.
If you would stop being so defensive you would realise that I'm trying to give you good advice. You don't know how much you need or how to go about setting up a business, therefore you need mentoring before you start flushing money down the toilet. Why do you think 80% of small businesses fail in year one.
OP, you might be able to achieve some success with crowdfunding as well or you can try and go for a partnership with someone who has some capital, start small as someone has suggested above; sorry I have no experience with it.
All the best with your business idea.Cheers Brainwhacker, I haven't heard of this before… will defo check this out! :-)
I will try to state in a more positive way what has been said by others
Get a plan and a rough budget
The mentoring advice above our your local BEC Business Enterprise Centre can assist with this for free
You are unlikely to get any substantial funding for nothing
So if you have to spend $$ to buy equipment take into account upfront cost, loan interest and depreciation (that is it won't be worth as much 2nd hand if you sell)
Of course to borrow you will need collateral - that means your house or other asset - be sure this business is worthwhile before you risk your home
You need a niche to succeed - a better product, and or better marketing or a network
There are lots of businesses getting into vinyl car wraps and I dare say most of them have businesses with more than 1 income stream
If you are only doing vinyl wraps you may struggleMy main piece of advice - try before you buy
Set up a deal with a supplier to buy wraps wholesale
You will make much less but you don't have to outlay capital
Then you can test your market before risking assets
Once you have consistent sales you can invest more confidently
You can also 'scale' by adding other services provided to you wholesale"But why would they buy off me when they could buy of my wholesaler?"
If you can answer that question - congratulations you have a business model :)Noblejoker, you are correct - most vehicle wraps are done by sign writers and vehicle signage is only one of many, many types of signs we do.
sorry, there is no such thing as a wholesaler of wraps, only wholesalers of "blank" media for the vehicle wrapper to create what their client requires. Every vehicle is a different and complex shape and size. Not to mention every single client wants a completely personalised wrap; with their colours and designs on it. It is very custom work.
I like what you have to say and sounds like a plan… Thanks Noblejoker… much appreciated!
You are welcome :)
I like what you have to say and sounds like a plan… Thanks Noblejoker… much appreciated!
How much are you looking at for initial investment and start up costs?