3 minute read
Investment and raising capital
Government of Western Australia
Department of Primary Industries and Regional Development Small Business Development Corporation Business Local
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Attracting investment and raising capital
BY SMALL BUSINESS DEVELOPMENT CORPORATION/DEPARTMENT OF PRIMARY INDUSTRIES AND REGIONAL DEVELOPMENT
Attracting investment and raising capital is critical to enabling small to medium businesses grow their potential and reach new markets, particularly lucrative international markets.
The Investor Readiness Program is a Western Australian Government initiative of the Department of Primary Industries and Regional Development (DPIRD). The program aims to help Western Australian agriculture, food and beverage businesses become more internationally competitive by providing a range of tools, incentives and resources to become investor ready, attract capital and build capacity. As part of a program partnership with the Small Business Development Corporation (SBDC), the agency will deliver a series of investor ready skill development workshops.
f THE Investor Readiness Program is a Western Australian Government initiative of DPIRD.
The workshops delivered in metro and regional areas are designed to help business owners develop skills such as investment planning strategies, attracting diverse markets, understanding impacts for raising capital and building the skills needed to effectively pitch to investors or expand operations. Investment Services General Manager for the Department of Primary Industries and Regional Development, Susan Hall, said the program builds on a successful series of webinar masterclasses for small and medium businesses, entrepreneurs and start-ups delivered in partnership with BDO Australia in 2020. “Building financial and business skills for food and agricultural businesses to help them grow, attract investment and thrive in competitive markets is not only good for the business and its local area, it’s great for the WA economy,” said Ms Hall. “More than 50 local businesses registered for the Investor Readiness Masterclass series held virtually in August and December last year. The masterclasses included real life practical examples, workbooks and case studies to educate business owners on strategy, business planning, valuation, finance, HR and improving business processes.” “Feedback from the program was overwhelmingly positive with half the participants rating themselves as investor savvy or expert after attending.”
Growers and producers from around the state, working in sectors including hemp, honey, processed grains and agroforestry, wine, kombucha, premium lamb and dairy, participated in the workshops. David Eaton, WA Small Business Commissioner and CEO of the SBDC, emphasises that financial skills are one of the most important areas of skill development needed by small to medium businesses. “It’s essential that businesses owners understand their finances and business model — it is critical to their future if they want a sustainable business,” said Mr Eaton. “If the forecast identifies a growth opportunity, then access to capital should be available. Many small businesses don’t know where to start when it comes to raising funds for their business.”
Mr Eaton noted that the SBDC has been delivering business skills development workshops to WA small businesses in every sector for more than three decades, and offers a range of lowcost workshops on business topics available to book from their website at www.smallbusiness.wa.gov.au. “We are very pleased to partner with DPIRD to deliver financial and business skills workshops at business events and conferences around WA. This partnership will allow WA’s small business in the agricultural, food and beverage sector gain the skills, knowledge and confidence to attract investment and develop their operations.”
Future of Food Conference
Mandurah, 24 September 2021
f MORE than 50 local businesses registered for the Investor Readiness Masterclass series held virtually in August and December last year.
Access investor ready workshops, funding and resources
A suite of investor readiness business workshops and resources is available to small business owners at leading business events, conferences and training workshops, including at the Future of Food Conference in Mandurah on 24 September 2021. Visit https://futureoffood.com.au/ conference/day2/workshops/ Find out more and start to dig into topics that support your: • business growth planning and strategy • cash flow management and sourcing of funds • legal and business structures, and • investor readiness.
MORE INFORMATION
For more information about attending or delivering investor ready workshops at your next event, phone (08) 9368 3590 or email investorreadiness@dpird.wa.gov.au, or visit http://bit.ly/investor-readiness.
