TASMANIA'S only professional ballet company is in danger of folding.

Tasmanian Classical Ballet Company director Mark Reddish said yesterday a lack of government funding and difficulty in finding sponsors meant that unless the next three shows played to packed houses, the company may die.

"It's really frustrating to not get people turning up to the shows," he said.

"We're charging almost nothing at $30 a seat, but we're getting this really lethargic response."

Mr Reddish formed the company in April last year with his wife Linda and has since gathered a troupe of 14 dancers and two choreographers, all with national, and some international, credits.

A FUNDING crisis hasn't stifled the Tasmanian Classical Ballet Company's enthusiasm.

Yesterday some of the company's leading dancers performed excerpts from their latest production, Gala Tasmania 2003, in Hobart's Elizabeth Mall.

Company spokesman Doug Henry said the performance included a classical Chinese piece -- Qi Kong.

Traditional Chinese drummers and Hobart choreographer Kim Pen Pang have joined forces to entertain Tasmanian audiences with a blend of traditional oriental martial arts and classical dance.