Depending on the grant’s terms, you may be able to use the funds for marketing campaigns, hiring staff, or expanding into new markets. Always read the grant guidelines to ensure appropriate use of funds.
Government funding can significantly impact profitability by subsidising course costs and enabling you to offer competitive pricing. However, it’s crucial to maintain compliance to continue receiving such funding.
Key financial metrics include revenue growth rate, profit margins, operating expenses, and student acquisition costs. Regularly monitoring these can provide a snapshot of your RTO’s financial health.
Effective cash flow management involves timely invoicing, prudent expense tracking, and maintaining a cash reserve for emergencies. Financial software can assist in automating these processes.
Yes, RTOs may be eligible for various tax benefits, including R&D tax incentives, education rebates, and asset write-offs. Consult a tax advisor familiar with the VET sector for tailored advice.