Chapter 7 Funding proposals for new tourism ventures
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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.

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Editor: Anna Spenceley