Queensland Tourism Business Financial Counselling Service
We are supporting tourism businesses with valuable financial counselling services as they navigate through the impacts of COVID-19.
The Queensland Tourism Business Financial Counselling Service will provide free financial counselling support to help tourism operators resize or change their business model, and will offer a rebate for businesses needing additional expert advice.
Ongoing support and guidance will be provided by a financial counsellor in areas such as analysing a business’s financial position and assisting with negotiation and mediation, as well as identifying a range of possible options, strategies and plans so a business can make the best decisions about their future sustainability. This could include changing their business model to cater to new markets or industries, scaling down, mothballing or exiting the industry.
The Queensland Tourism Business Financial Counselling Service is a 3 stage process:
- Stage 1: Free Tourism Business Health Check
- Stage 2: Free Tourism Business Financial Counsellor Service
- Stage 3: 50% rebate on up to $5,000 of Tourism Business Professional Advice
Stage 1: The free Tourism Business Health Check enables tourism businesses to quickly assess any areas of risk or financial distress, identify those areas in their business where development or attention is required, and direct businesses to further support. Upon completion of the initial rapid appraisal, tourism businesses will receive a personalised and confidential report with recommended resources and actions.Recommendations may include a referral to meet with a Tourism Business Financial Counsellor or Small Business Financial Counsellor.
Stage 2: Free counselling by four dedicated Tourism Business Financial Counsellors will be available in Cairns, Whitsundays, Gold Coast and Brisbane to provide a confidential face-to-face service. They will conduct a business analysis and provide short, medium and long-term advice as well as options to consider. The Queensland Government’s COVID-19 Small Business Financial Counsellors located in Cairns, Mackay/Whitsundays, Capricorn, Wide Bay, Redlands, Moreton Bay, Brisbane and the Gold Coast are also available to provide this free service to tourism businesses across Queensland.
Stage 3: The Tourism Business Professional Advice Rebate will provide an eligible tourism business with a rebate of up to a maximum of $2,500 (excluding GST) per applicant for professional financial, legal and/or human resource advice. That is, a rebate of 50% of the costs of up to $5,000 (excluding GST) in professional advice received by the applicant.
Four new dedicated Tourism Business Financial Counsellors will be located in Cairns, Whitsundays, Gold Coast and Brisbane. These counsellors are in addition to the eight existing Queensland Government COVID-19 Small Business Financial Counsellors located in Cairns, Mackay/Whitsundays, Capricorn, Wide Bay, Redlands, Moreton Bay, Brisbane and the Gold Coast.
This Queensland Tourism Business Financial Counselling Service is led by the Department of Tourism, Innovation and Sport (DTIS) in partnership with the Queensland Tourism Industry Council (QTIC).
Delivery partners include the Queensland Rural and Industry Development Authority (QRIDA) and the Department of Agriculture and Fisheries (DAF). The program is an extension of the Queensland Government’s existing COVID-19 Small Business Financial Counselling Service led by DAF and delivered by Rural Solutions Queensland in southern Queensland, and the Remote Area Planning and Development Board in northern Queensland.
QTIC has endorsed the opportunity to provide financial counselling to businesses needing it most. QTIC has worked closely with the Queensland Government to add this service offering to the suite of support measures that have been in place over the last 12 months.
The $2 million program will run from March 2021 to June 2022.
Last updated: 25 Mar 2021