Managing your finances

Business advice. Funding opportunities. Financial guidance. There are many organisations that can help you plan and manage your finances, whether you're a one-bedroom B&B or a large visitor attraction.

If you want to access funding to set up a business or expand your existing operation, we've pulled together an overview of finance organisations aimed specifically at helping small businesses.

You can also find guidance on taking card payments and information on what charges you can pass on to your customers, as well as your legal obligations.

If you need help on setting your prices, read our tips on what you should consider and learn how other operators price their offer during major events. If you're a charitable attraction operator, download our guide to rules on Gift Aid (PDF, 144KB) to ensure you maximise its potential for your business.

Securing funding

If you're unable to gain funding from your bank or building society, there are other organisations that may be willing to help your business.

Finance your Growth

Finance your Growth, managed by the British Business Bank, features a quick six-step tool to help you to find business finance options specific to your business and location. The information hub also provides guidance on the different finance options available to you, becoming ‘investor ready’ and lists finance experts who can help you to grow.

LEADER grants for rural businesses

Rural businesses can apply for LEADER funding for projects that help their businesses to grow.

Applications are made to Local Action Groups (LAG), who determine which projects to fund in their area. These projects must support at least one of six LEADER priorities, including boosting rural tourism and providing cultural and heritage activities. More information on LEADER funding.

The Business Finance Guide

This Government guide for SMEs sets out the full range of debt and equity finance options for start-ups and businesses looking to grow. GREAT Business also offers further guidance, including start-up loans and how to find private sector support. 

Better Business Finance

Better Business Finance provides impartial information and support to businesses and entrepreneurs looking to develop and grow. Its website contains a wealth of information and support, including an appeals process if you've been turned down by your bank, tips for a successful finance application and advice on writing a business plan.

Funding Circle

Supported by funding from the Department of Business, Innovation and Skills, Funding Circle is an online lending community where you can borrow from individuals and access loans of between £5,000 and £1 million to help grow your business. Once you've applied for funding, investors compete to lend you money in an online auction style system and the lowest bids win, so you receive the lowest rates possible for your loan. To be eligible for funding, your business must have at least two years’ trading history, a good credit rating and a minimum turnover of £100,000.

Community Development Finance Institutions (CDFIs)

Supported by trade body Community Development Finance Association (CDFA), CDFIs are local, community-based lenders who provide both finance and mentoring to new and existing businesses. There are currently about 60 CDFIs around the country.

Card payments

a visitor buying a slice of cake in a cafeThe benefits of accepting card payments

Customers are increasingly paying by card and many consumers automatically expect a card payment facility when they stay at a hotel or visit an attraction.

Other benefits of accepting card payments include:

  • Reducing the risk of ‘no shows’ and late cancellations
  • Money in your bank account typically within four days of the transaction
  • Improved cash flow
  • Quick and easy payment options for your customers, particularly from overseas visitors
  • Potential to up-sell additional services and products – customers may not have enough cash on them to pay for a room upgrade or merchandise

Setting up card facilities may be easier than you think – the UK Cards Association has advice on its website for businesses on how to get started.

Charging a guest's card for damage

Your legal rights if a guest causes damage to your property.   

Data protection

Your statutory obligations under the Data Protection Act 1998

Deposits and cancellations

Your – and your customers’ – rights in the event of a cancellation.

Setting your prices

There are several things you can do to gain an idea of what you should charge your customers.

1. Research your competition

Find out how other businesses compare with your offering. Do they offer the same facilities? Are they aiming for the same target market as you? Are they attracting enough customers at their current prices? Do they charge different rates at different times of year? This will give you an idea of the local market and what visitors to your area are willing to pay.

2. Consider your location

If your business is in a honeypot area or close to a major tourist attraction it's likely you'll be able to charge more than if you're in an area which receives few tourists.

3. Contact your local tourism organisations

Our Tourist Information Centres (TIC) and Destination Organisations (DO) should be able to provide you with information on the local market, such as peak periods and the level of demand.

4. Establish what your prices will include

If you run a B&B, will you include a full cooked breakfast in your basic price, or charge extra for this? If you're an attraction, will your visitors be prepared to pay extra for things like tractor rides or special exhibitions? Ensure you make it clear to customers what the price includes before they purchase.

5. Look beyond covering your day-to-day running costs

Although these can give you a good idea of what your business will cost you, you may need to think about more infrequent or annual costs on top of your monthly outgoings. Have you thought about insurance? What's your marketing budget? Will you have enough to cover your costs in the low season?

Statutory obligations

Read our Pink Book Online to find what you need to do when advertising prices to your customers.


gift aid logo

Gift Aid for charitable attractions

Read our guide to rules on Gift Aid (PDF, 144KB), including how to display your entrance prices.