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Developing a business case to support post-COVID grant applications

It might feel like the tourism industry is going under…

 

The team at Tilma Group have provided this valuable advice to support preparedness of your destination, business or event post-COVID.

UPCOMING GRANTS TO GROW REGIONAL TOURISM

Once social distancing restrictions lift, tourism and events will likely become a target of government investment via grant funding to revitalise domestic tourism and visitor expenditure into regional Australia, particularly regions recovering from bushfire and drought.

Now is the time to prepare ‘shovel-ready’ projects for grant applications that will be announced in coming months if you are

  • a tourism operator considering business expansion such as the construction of new infrastructure
  • an event looking to grow out-of-region visitation
  • a destination planning how to recover, or considering up-skilling your region’s tourism operators and event committees

 

DEVELOPING A COMPELLING BUSINESS CASE

An effective business case provides rationale to potential funding partners on why your project should be undertaken, helping them understand

  • its economic value
  • why a private or public partner should invest in it
  • why it represents a worthy expenditure of public funds

It will outline

  • expected outcomes if the investment support is provided
  • the opportunity cost if the project does not go ahead
  • the capital required
  • timelines and capacity to deliver
  • how outcomes will be measured
  • how the project aligns with the mission of your organisation

Case study

We recently developed a strong business case for the expansion of the Heifer Station Winery in Orange, NSW.

The business case included:

  • Concept and project elements
  • Rationale
  • Economic benefits
  • Strategic and marketing benefits
  • Social benefits
  • Value for money
  • Project support
  • Financial projections
  • Project delivery – to establish credibility to deliver project and sustain it as a successful business

Read the case study

 

WRITING A SUCCESSFUL GRANT APPLICATION

  • Sign up now to receive notifications about when relevant grants open, such as the Building Better Regions Fund, and your state’s events grants. The federal grant finder grants.gov.au and your state government’s grant finder are perfect places to start. However, there will likely be brand new grants announced post-COVID as there were for bushfire-affected regions. We are keeping an ear to the ground through our subscription to Indigo Gold’s General Grant List for grants over $10,000 (it is Queensland-specific, but includes federal and philanthropic grants).
  • Keep a record in your calendar of when relevant grant rounds open and close. To make life easy, use this grants tracker template.
  • A good grant application effectively addresses the grant’s criteria by demonstrating your organisation’s ability to deliver services that respond to issues in your community (even private business expansion will help grow your local economy). Here are comprehensive tips on effectively responding to grant criteria.
  • Lastly, remember to leave time to ask for feedback on how to improve your submission from your Council and local arm of Regional Development Australia.

Additional support for events

Specifically for events we can support your search with this Grant Opportunities for Events tipsheet. If you would like comprehensive support, we suggest our on-demand online training module Grant Funding Made Easy.

 

SUPPORT FOR YOUR REGION, BUSINESS OR EVENT FROM TILMA GROUP

We have a very strong track record in helping local governments, tourism operators and events secure significant grant funding, such as

  • Securing close to two hundred thousand dollars to build the Food I Am cooking school and hundreds of thousands to expand the Belisi Wellbeing and Equestrian Centre, both in Wagga Wagga, NSW
  • Securing significant and one-off grants for the Adina Polocrosse World Cup held in Warwick, QLD from Tourism & Events Queensland’s Major Events fund, Southern Downs Regional Council (multi-year), the QLD Gambling Community Benefit Fund, and the federal Stronger Communities Program
  • Securing more than one hundred thousand dollars from Destination NSW to double Edward River Council’s marketing budget for a campaign which we developed and implemented
  • Developing a strategic business plan to help Alice Springs Rotary Henley on Todd Regatta secure record-breaking multi-year funding from two grant providers to fund 90 percent of the actions within the plan

Learn more about how we can help you with grants

…we will come out the other side and continue on our journey.