Getting your business up and running can be a real challenge.
Acknowledging this, start-up incubator Runway Ballarat provides fledgling businesses with support to fast-track and scale growth. The Incubator Program also connects entrepreneurs with quality advisors. PPT’s Thomas Elford regularly visits Runway Ballarat to help entrepreneurs with advice on accounting, taxation and structuring.
We chat with Thomas about PPT’s involvement with Runway.
Photo: PPT’s Thomas Elford with client Belinda Eden.
What is Runway?
Runway is a co-working space in Ballarat with an onsite café, a Fab Lab, and a podcast studio, it is a great place to work for start-up businesses.
How does the program help small businesses?
Runway operates different programs to help entrepreneurs and start-ups get the skills they need to succeed and help them connect to the people that will help them succeed in the long run.
How do you help Runway businesses?
We work in the co-working space once a week with the intention that if anyone needs any mentoring or assistance, we are here for them. We have also held education sessions to teach the basics of budgeting, cashflow, taxation and structuring.
What type of businesses do you work with @ Runway?
To date we’ve worked with entrepreneurs and start-ups across a variety of industries from transport, to travel to the human resources sector. However, we can advise businesses working in any industry.
What are the main challenges start-up businesses face?
Cash flow and budgeting are common issues. But, the biggest challenge for the entrepreneur is taking their business idea from a concept to a viable commercial product or service. Our job is to ensure they’re prepared from a financial, tax and structuring point of view.
For more information about Runway visit the website or call (03) 4313 4911.