Funding Proposals for New Tourism Ventures
If you are interested in learning how to undertake a funding proposal for a new tourism venture, feel free to download and read the attached article I recently authored about this subject. It forms 1 of 32 chapters of a new book on Sustainable Tourism being authored by numerous experts from around the globe, which is soon to be published in the UK. We expect it fresh off the press in early 2021!
If you or anyone you know require assistance with undertaking a funding application for your tourism venture, feel free to contact us and Michael will be glad to help.
Below is a download link to the chapter, together with the abstract for your perusal.
The nature of a funding proposal for a tourism venture may differ depending on its sector category, and whether or not it is purposed for a new start-up venture, or an existing business seeking to undertake a new venture, expand a current venture, or seeking refurbishment and support. The funding avenue pursued needs to relate to the venture’s goals and objectives, and requires understanding the investment mandate and criteria of the funder(s). An enticing funding proposal necessitates several key ingredients: thorough planning, research, good structure, quality content, rapport with the funder(s), presentation and follow-up. The product will need to include a bankable feasibility study. Funding can also comprise several forms, and the correct combination of these will be vital to achieving profitability in the shortest possible timeframe. Furthermore, obtaining funding for sustainable tourism requires not only a feasible business proposition, but a strong commitment to society, communities and the environment as well. Ensuring all of these elements are delivered upon will bring about the greatest probability of funding success.