Running a small business can be challenging, especially if you don’t have a mentor to help guide you on a path to success.
Small businesses are the backbone of the Australian economy and operating a business can be difficult, even at the best of times. This is why the Federal Government has established the Self-Employment Assistance program to support entrepreneurs who want to start or grow their own businesses.
Small Business Coaching as a part of Self-Employment Assistance
One key aspect of this program is Small Business Coaching, which helps entrepreneurs develop the skills and knowledge they need to succeed. The best part of this program is that it is completely funded by the government so there is no cost required to participate.
Small Business Coaching gives you 12 months of personalised support to help you start and run your small business. As part of this program, you can also access a payment of up to $300 to help with small business start-up costs, such as business insurance as well as a fortnightly allowance for up to 39 weeks if you are receiving an eligible Centrelink benefit.
What does Small Business Coaching include?
Small business coaching in the context of the Self-Employment Assistance program includes meeting with a business coach bi-monthly and is a positive and collaborative process between you and your coach. The coach is typically an experienced business owner or professional who has tangible experience in running a business. Their role is to help you identify your strengths and weaknesses, set goals, and develop strategies to achieve those goals.
What does the coaching process involve?
The coaching process usually begins with an assessment of your current situation. The coach will ask questions to better understand your marketing,sales activity and financial situation. Based on this information, the coach will work with you to develop a customised action plan.
Over these 12 months, there will be a series of one-on-one coaching sessions, either in person or online. During these sessions, the coach will provide guidance and support to you as you work towards your goals. They may offer advice on marketing and sales, financial management, and other aspects of running a business. The coach may also provide information about additional resources, such as workshops and training programs.
Your partner in setting goals and being accountable
One of the key benefits of Small Business Coaching is accountability. The coach will help you set specific goals and deadlines and will hold you accountable for making progress towards those goals. This can be a powerful motivator, especially if you are working on your own.
Another benefit of Small Business Coaching is the opportunity to learn from someone who has been there before. Our coaches are experienced current or past business owners themselves and can offer valuable insights based on their own experiences. This can help you to avoid common pitfalls and make more informed decisions.
Small Business Coaching is just one aspect of Self-Employment Assistance, however it can be a powerful tool for those who are looking to start or grow their businesses. By working with a coach, you can develop the skills and knowledge you need to succeed as well as receiving support and guidance to stay motivated and on track.
Contact us to find out more about Small Business Coaching or apply via our website.