australian business plan

How to write a business plan in 12 steps (2024 edition)

Updated 08 January 2024 • 12 min read

This guide breaks down how to write a business plan, step-by-step, detailing what your document needs to include and what you need to think about to make your business plan as persuasive as possible.

What is a business plan?

A business plan is an essential document that can provide immense value for new and existing companies of all sizes. It is an overview that includes an outline of your business, its key objectives and plan for achieving important goals.

This information can be used to communicate strategic actions to internal teams and also attract interest from potential partners and investors . However, writing a business plan can be a lengthy and involved process. For many, using a business plan template can be a good way to get started.

For best results, you’ll need to do a lot of thinking and planning before you start writing your business plan. This way you have all the information and resources you need at your fingertips and won’t be under time pressure to come up with something at the last minute. After all, a well-thought-out business plan can help you avoid generic information and set your company up for success.

Download your free business plan template .

Why write a business plan?

Writing your business plan helps to get your strategy nailed down and onto the page. A plan that stays in your head is probably going to be full of unrealistic assumptions and biases, whereas a strategically thought-out and organised approach forces you to notice your blind spots and find a way forward.

If you’re looking for financing, a bank or investor needs to be persuaded by your business proposal and the opportunity to work with you. Therefore, a well-written business plan can help provide potential financial partners with the confidence that your business can become profitable. Your business plan gives them a comprehensive view of all aspects of your business and details your strategy for achieving your goals.

What are the main sections of a business plan?

Whatever your line of work, your business plan will generally need to provide the following:

An executive summary

A business overview

The market opportunity

Your products/services

How to write a business plan

Make sure you cover each of the following steps when preparing your document:

1. Write an executive summary

This section of your business plan should be 1–2 pages in length and enables potential financiers or partners to get an overview of what your business does and – most importantly — what the opportunity is for them. If they’re interested in the opportunity, they’ll conduct their own due diligence - and this will start with going through your business plan and financials.

It’s a good idea to write your executive summary last, when you’ve clarified your thinking around every section of the document. As an overview section, you don’t want to add any new content that isn’t in your business plan. Aim to keep this summary succinct and engaging by using simple, plain language, as this is much more persuasive than complicated or academic wording.

Use sub-headings and bullet points to help your most important information stand out, especially as busy executives may simply scan your executive summary and use this to decide whether they want to find out more.

What to include in an executive summary?

Make sure you include details on:

What your business does

What the opportunity is

What your unique selling points / differentiators are

How much funding you’re looking for

What the funding will be used for

How you'll succeed

Remember, you’re providing the big picture overview of your business - the detail is in the rest of the document and in the appendices.

2. Write your business overview

This section of your business plan needs to be more than just a list of what your business does. Its purpose is to excite those you’re hoping will work with you or help to fund your business.

Information to address includes:

What's the purpose of your business?

What problem does your business’ product or service solve?

What niche could it fill?

What’s different about your offering?

How are you better than anyone else at what you do?

Consider what your customer value proposition is by deciding what you want to achieve and what your number 1 benefit is for your customer.

3. Identify your USP

Think about what your unique selling points (USP) or differentiators are, and what proof-points you can provide to back them up.

For example, you can use terms like “market-leading” but if you don’t provide any evidence to back up your claims, your reader will take them with a big pinch of salt!

You should certainly reference any awards or endorsements that position you as the best person to provide your product or service, as well as any client testimonials. Make sure you include any education or experience that makes you an expert in your field as well.

4. Describe the market opportunity

Show you understand your industry, market and where you fit in it. While no-one can predict the future, offer up where you think the opportunity is for your business and make sales projections based on that. 

For example, imagine your business is selling personalised cookies - there's little competition in your area and you see your market opportunity to create designs for all calendar and holiday events. You expect to increase sales by 30% in one year and 50% in three years, driven primarily by word-of-mouth referrals.

Make sure you also consider macro trends that may create opportunities for you, such as social, environmental, or technological changes that may affect buying behaviour.

5. Include a SWOT analysis

Whatever your business strengths or opportunities, they’ll always be known and unknown weaknesses and threats; there’s no such thing as certainty in business or in life!

However, you can demonstrate that you’ve examined your business through different lenses and have a thorough understanding of it by doing a SWOT (strengths, weaknesses, opportunities, threats) analysis.

Don’t worry about drawing attention to your business’ shortcomings - every opportunity has them and it’ll give investors and partners confidence in you that you won't bury your head in the sand. Naturally, it's important that you specify what you’re going to do to address these weaknesses and counter these threats.

Here are some areas you can think about to get started: reputation, technology, location, experience, staff, overheads, competition, suppliers and price.

6. Present a competitor analysis

Let’s face it, no matter what industry you’re in, or what you’re selling, there’s going to be other businesses offering the same thing. But instead of worrying about the competition, use this as a positive opportunity to up your game and work out the unique advantages you have that will keep you competitive.

Identify your top 3 competitors and analyse what they're doing well and where they’re coming up short. Try to be as objective as possible and identify how to differentiate yourself from them.

You should also look into who the industry leaders are and what the benchmarks are for your industry so that you can set yourself targets for continuous improvement.

7. Create a customer persona

A customer persona is a fictional person who represents your company's ideal customer. Naturally, the persona can be based on a real person - the more you get to know your ideal customer, the more targeted and successful your marketing efforts will be.

To create a customer persona, you need to conduct research into your ideal customer’s age, sex, income, employment, daily activities, interests and hobbies. If you’re feeling unsure about your customer persona, you may need to give your ideal customer further thought and download the customer persona template to get started.

8. Write your marketing strategy

When you’ve created your customer persona, you need to work out how you’re going to reach them. Do they hang out on social media apps, like Facebook, Instagram, Pinterest, Twitter or LinkedIn? Or are they more used to local, traditional marketing like free local papers or high foot traffic areas?

Once you’ve figured where your audience is likely to hang out, you can outline your strategies for promoting and advertising your products or services in the next 12 months.

Make a list of the marketing channels you’ll use to achieve your advertising strategy and be sure to include your budget. How much can you set aside for advertising? And where are you most likely to see a return on your efforts? Paid ads on Facebook? Half or full paid spreads in an industry magazine? Or even a direct mail out? 

For more structured help around this, check out free course: Business 101 | Get social with your business on Facebook . 

9. Design your customer retention strategy

Business success relies heavily on the relationship you’re able to build with your customers. What techniques will you use to keep them coming back? Consider the following:

What can your business do to increase the number of repeat customers? 

Does your business have a referral or loyalty program? 

Do you have a post-purchase follow up in place?

Will you use surveys to track customer satisfaction?

What ways can you continue delivering outstanding service?

Is there a way to continue educating and adding value to your customers?

10. Present your financials

Most people who are looking at investing their time and/or money in your business will want to see your financial statements - your performance to date and your projections over the short and medium term. They'll also want to know how much you’ve received in funding to date and what these other sources of funding are - including your own investment.

Current finances

You need to show how your business has performed financially over the last year, highlighting metrics such as positive cashflow , net profit and assets.

Financial forecasts

You should also provide a balance forecast projecting total assets, total liabilities and net assets over 1, 2 and 3 years, and a profit and loss forecast for the same periods detailing gross profit/net sales, total expenses and net profit/loss. Finally, you should also provide a cashflow forecast month by month over the next year.

It’s also a good idea to speak to an expert like an accountant or bookkeeper about your finances and get advice on how best to present them in this all-important section of your business plan.

11. Detail how much funding is needed

Naturally, you also need to be very clear about how much money you’re looking for and what you plan to do with it. If you’re looking for a loan , you need to detail what it’s for, over what period it’ll be repaid, and what collateral you have to secure it.

12. Propose an exit strategy

Any financial stakeholder in your business will want a return on investment. If you’re pursuing this type of funding, you should include some detail on your proposed exit strategy . For example, do you want to sell the company at some point or go public?

Similarly, you should outline your succession plan so the business can continue to operate if you decide to step away from it. Likewise, you need a plan for what happens if the business loses money and can’t sustain itself. Documenting this means that everyone is on the same page and potential investors have this information upfront.

Frequently asked questions about writing a business plan:

When to write a business plan.

Typically, entrepreneurs write their business plans within the first year of operations. A business plan is a tool that helps business owners refine their strategy, attract partners and financiers, and grow their business.

If a business plan is written too soon, it may lack the substance that comes with time in the market. However, it’s important to note that a business plan isn't a static document - it can and should change as the business evolves.

How long should your business plan be?

There are no hard and fast rules around how long your business plan should be - it just needs to include all the relevant information. Aim for clear, concise sections and build a business plan that is as easy to read and navigate as possible.

Using a business plan template can help you make sure you have everything covered off, while also having a document that looks as professional as possible. Make sure you run a spelling and grammar check too - any sloppy errors can undermine your credibility.

What’s a business plan on a page?

It’s important to write your business plan as it helps to embed your strategy - as well as communicate what you’re about to potential partners or investors. When you have a comprehensive business plan you can easily adapt it to suit different audiences. For example, a full business plan is essential for raising capital but a business plan on a page may be enough for potential partners or employees.

What do venture capitalists look for in a business plan?

Venture capitalists invest money into businesses with the goal of achieving a return on their investment within the short to medium term. As a result, they’re looking for an attractive market opportunity, a clear point of differentiation, a strong management team, a proven track record, solid financials and, importantly, an exit opportunity.

Where to go for help or more information?

There are many great resources out there to help you fine-tune your business strategy and write your business plan. The Australian Government has a comprehensive website dedicated to supporting businesses at all stages of their journey.

You can also get help from Business Enterprise Centres , business advisors, accountants and fellow business owners. MYOB also has a list of business advisors who can give you feedback on your business plan, so your venture has the very best chance of success. 

Related Guides

How to get a business loan arrow right, how to find investors: a guide for startups arrow right, business models: definitions, types and key components arrow right.

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Business plan template

Create a comprehensive business plan with this easy to use business plan template.

Businesses need a strong plan that outlines what you aim to achieve and gives you a roadmap to get there. Creating your own business plan doesn’t have to be difficult, simply set aside some time to work through the various elements.

What to consider when writing a business plan

The template walks you through each stage of a business plan. It will help ensure that nothing gets missed, including essential elements such as:

• your profile
• your marketing strategy
• your business structure.

When you’re  writing your business plan , it’s important to: 

• avoid  long words or sentences
• use clear and concise language and avoid jargon
• identify your audience and keep them in mind when writing
• show why you care and let your passion for the business shine through
• highlight your unique value proposition
• include a realistic detailed financial plan
• think carefully through every step of your business start-up
• pinpoint weaknesses, identify your strengths and spot opportunities.

Why you should use a business plan template

A business plan template is an essential tool to help you  create a clear, concise and comprehensive business plan. It can help you:

• secure funding and  attract investors
• set goals and prioritise
• better control  your business
• helps you seek finance.

Writing a plan can be enjoyable. It will help you highlight the ideas and activities at the core of your business, and force you to get your priorities in order too. It could also show you what success will look like, so you can begin measuring it. Each section of the template comes with brief instructions, so that you get the structure right.

When you’re finished, one of our small business bankers will be happy to go over the plan and provide advice and guidance. You can request a call back online to discuss this further.

Download our  business plan template (DOC, 158KB) , opens in new window  and read our detailed article on writing your business plan to get started.

Use our business plan template to guide you through writing your business plan.

Other business moments

Find out if you’re suited to running a business

Use our checklist to help you determine if you have what it takes.

How to write a business plan

Follow our helpful guide to writing a comprehensive plan.

What are business drivers and how do I identify them?

Boost profitability by identifying your key business drivers.

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The information contained in this article is correct as of July 2018 and is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it is appropriate for your circumstances. NAB recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.

Sample Plans

Business plan example australia.

Whether you are growing your existing business or starting afresh, a business plan is a critical business tool. At Business Plans, we have produced thousands of business plans for businesses across Australia from diverse industries.

On this page, you will find business plan templates for hundreds of different businesses in Australia. We have sensitised these business plan samples and made them more generic to suit a wide range of businesses.

Simply pick your category, purchase the business plan template and customise the content to reflect your business. Why spend time writing a business plan when you can download a business plan template and customise it suitably

Business Plan Templates that Deliver Results

A good business plan can help you figure out a direction for your business, create strategies to reach your goals and improve your chances of securing finance.

But we also understand that  writing a business plan  can take a lot of time. If the very thought of writing an exhaustive business plan seems to overwhelm you, consider buying one of our business plan templates.

All of these business plan examples have been produced by our professional business plan writers who have many years of experience in the craft. We have used our extensive experience, in-depth knowledge and expertise to create compelling business plans that have achieved staggering results for our clients.

Now take advantage of our skills by using some of our proven business plans for your business.

You don’t have to spend endless hours writing out your business plan from scratch. Nor do you have to pay for a custom written business plan to a professional writer. Simply download one of our previous works that have been sensitised into a generic template and get going!

Why Use a Business Plan Template?

A good business plan template can help organise your thoughts. It can provide a guideline so you don’t find yourself stuck staring at a blank page figuring out where to begin.

What’s more, a business plan sample provides a general layout of a standard business plan so you understand what goes where whilst ensuring you don’t leave anything out.

A good template also makes the job of writing a business plan easy and effortless.

Need More Information?

Can’t find a template for your business? Perhaps you have a question about our business plan samples. Feel free to contact our friendly team for assistance. Fill in our contact form  or call  1300 630 330 .

White Goods Business Plan

Get your business plan done today!

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete.

The White Goods Retailer business plan is a 16 page business plan which was written for an actual Australian White Goods Retailer applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of retail businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Why waste time trying to write a business plan from scratch, time is money!  Visit Page And Purchase

Wine Bar Business Plan (suitable for Bar Business Plan)

The Wine Bar business plan is a 16 page business plan which was written for an actual Australian Wine Barapplying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Wedding Planner Business Plan

The Wedding Planner business plan is a 16 page business plan which was written for an actual Australian business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

However, if we take them at their simplest form an Investor invests the funds required in return for an equity stake in the business. They then sit back and wait for a return on their investment. Generally speaking with new start businesses or new technologies, the motivation for investment is not an annual return in the form of a dividend as they can go for a safer listed entity for this. They generally want to see their investment increase ten-fold or more over the medium-term through the business taking off.

A Business Angel will get involved in the business and will bring to the table business and/or industry experience and contacts. They will take a mentoring role to ensure the business has every chance of success. They may commit funds but will see their main investment in the business as ‘sweat equity’ working in the business in return for an equity stake in the business.

For more information on Investors and Business Angels please read our article, Investor or a Business Angel?

Vineyard Business Plan

The Vineyard business plan is a 16 page business plan which was written for an actual Australian businessapplying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Security Services Business Plan

The Security Services business plan is a 17 page business plan which was written for an actual Australian Security business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of business. All that is left to do is to follow what we have written and customise the content to reflect your business.

Please call us if you would like any assistance in this matter.

Tiler (trade )Business Plan

The Tiler’s business plan is a 16 page business plan which was written for an actual Australian Tiling Business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of trades. All that is left to do is to follow what we have written and customise the content to reflect your business.

Seafood Distributor Business Plan

The Seafood Distributor business plan is a 19 page business plan which was written for an actual Australian Seafood Distributor applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

The goal when preparing a business plan for investors is to provide sufficient information for them to know whether they are interested in the concept and want to know more, or they understand the concept and are not interested.

We try to limit business plans for investors to between 20 -30pages. It is important to cover off what makes your business so special, how you will commercialise and monetise your concept, who is involved in the project, the risks involved, and how the money will be spent.

For more information visit Investor Tips and Advice  Visit Page For how we can assist visit  exec-b-plan-investorsproposals-2400

Rooftiler Business Plan

The Roof Tiler’s business plan is a 16 page business plan which was written for an actual Australian Trade business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of trades. All that is left to do is to follow what we have written and customise the content to reflect your business.

Thai Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Thai Restaurant business plan is a 17 page business plan written for an actual Australian Thai Restaurant business applying for bank finance.

We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Vietnamese Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Vietnamese Restaurant business plan is a 17 page business plan written for an actual Australian Vietnamese Restaurant business applying for bank finance.

Steak House Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Steak House Restaurant business plan is a 17 page business plan written for an actual Australian Steak House Restaurant business applying for bank finance.

Spanish Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Spanish Restaurant business plan is a 17 page business plan written for an actual Australian Spanish Restaurant business applying for bank finance.

Russian Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Russian Restaurant business plan is a 17 page business plan written for an actual Australian Russian Restaurant business applying for bank finance.

Seafood Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Seafood Restaurant business plan is a 17 page business plan written for an actual Australian Seafood Restaurant business applying for bank finance.

Pizza and Pasta Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Pizza and Pasta Restaurant business plan is a 16 page business plan written for an actual Australian Pizza and Pasta Restaurant business applying for bank finance.

Mongolian Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Mongolian Restaurant business plan is a 17 page business plan written for an actual Australian Mongolian Restaurant business applying for bank finance.

Malaysian Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Malaysian Restaurant business plan is a 18 page business plan written for an actual Indian Malaysian Restaurant business applying for bank finance.

Mexican Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Mexican Restaurant business plan is a 17 page business plan written for an actual Indian Mexican Restaurant business applying for bank finance.

Indonesian Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Indonesian Restaurant business plan is a 17 page business plan written for an actual Indian Indonesian Restaurant business applying for bank finance.

Indian Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Indian Restaurant business plan is a 17 page business plan written for an actual Indian Hamburger Restaurant business applying for bank finance.

Hamburger Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Hamburger Restaurant business plan is a 17 page business plan written for an actual Australian Hamburger Restaurant business applying for bank finance.

Greek Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Greek Restaurant business plan is a 17 page business plan written for an actual Australian Greek Restaurant business applying for bank finance.

French Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The French Restaurant business plan is a 17 page business plan written for an actual Australian French Restaurant business applying for bank finance.

Chinese Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Chinese Restaurant business plan is a 17 page business plan written for an actual Australian Chinese Restaurant business applying for bank finance.

Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Restaurant business plan is a 16 page business plan written for an actual Australian Restaurant business applying for bank finance.

Recruitment Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Recruitment business plan is a 16 page business plan written for an actual Australian Recruitment business applying for bank finance.

Real Estate Business Plan

Get your business plan done today! Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The car wash business plan is a 17 page business plan written for an actual Australian Real Estate business applying for bank finance.

Property Development Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Property Development business plan is a 12 page business plan written for an actualAustralian Property Development business applying for bank finance.

Psychologist Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Psychologist’s business plan is a 16 page business plan written for an actualAustralian Psychologist’s business applying for bank finance.

Post Office Business

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Post Office business plan is a 15 page business plan written for an actual Australian Post Office applying for bank finance.

Plumbers Business Plans

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Plumber’s business plan is a 16 page business plan written for an actual Australian Plumbing business applying for bank finance.

Personal Trainer Business Plan

This is an Australian Business Plan. It has been deliberately written in plain language so it is easy to follow. The business plan is emailed to customers in Microsoft Word to allow for easy changes that suit the customers personal circumstances.

Visit Page And Purchase

Photographers Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Photography business plan is a 16 page business plan written for an actual Australian Photography business applying for bank finance.

Painters (Trade) Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Painter’s business plan is a 16 page business plan written for an actual Australian painting business applying for bank finance.

Online Store Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Online Store business plan is a 14 page business plan written for an actual Australian Online Store business applying for bank finance.

Business Consultant Business Plan

Builders business plan.

The Builder’s business plan is a 22 page business plan which was written for an actual Australian builder applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Beauty Salon & Hairdresser Business Plan

The Beauty Salon and Hairdresser business plan is a 14 page business plan which was written for an actual Australian business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of beauty realated businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Bakery Business Plan

The bakerybusiness plan is a 16 page business plan which was written for an actual Australian bakery applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of bakeries. All that is left to do is to follow what we have written and customise the content to reflect your business.

Asian Grocery Business Plan

The Asian Grocery business plan is a 16 page business plan which was written for an actual Australian based Asian Grocery business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of grocery businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Also suitable for:

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Accountant’s Business Plan

The accountant business plan is a 16 page business plan which is written for an Australian Accounting practiceapplying for bank finance. It is written in with standard services and generic operating elements to make it suit a wider range of practices. All that is left to do is to follow what we have written and customise the content to reflect your business.

Catering Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The catering business plan is a 16 page business plan written for an actual Australian catering business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Carpenter / Cabinet Maker / Joinery Services Business Plan

This is an Australian Business Plan. It has been deliberately written in plain language so it is easy to follow. The business plan is emailed to customers in Microsoft Word to allow for easy changes that suit the customers personal circumstances

Car Wash Business Plan

The car wash business plan is a 16 page business plan written for an actual Australian car wash businessapplying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Car Hire Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The car hire business plan is a 16 page business plan written for an actual Australian car hire business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Why waste time trying to write a business plan from scratch, time is money  Visit Page And Purchase

Camping Store Business Plan

Cake shop business plan, cafe business plan.

The cafe business plan is a 16 page business plan which was written for an actual Australian cafe applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of cafes. All that is left to do is to follow what we have written and customise the content to reflect your business.

Nursery (Plants) Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Nursery business plan is a 14 page business plan written for an actual Australian Nursery business applying for bank finance.

Night Club Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Night Club business plan is a 17 page business plan written for an actual Australian Night Club business applying for bank finance.

Newsagency Business Plan

Do you need help to develop an effective  newsagency business plan?

We understand that a business plan is an essential document and that can enable you to win investors. If you are looking for ideas for a well-structured and convincing  newsagency business plan,  we can help you. At BusinessPlans, we offer specialist business planning services and can help you document your ideas in a clear and professional way. With our  business plan solutions , you can build a strong foundation for your business. Our  newsagency business plan  is crafted to comprehensively outline every aspect of your business and reflect its potential.

Make the right start for your business with our business plan solutions. Get your business plan done today!

You can now avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Newsagency’s business plan is a 15-page business plan written for an actual Australian Newsagency business applying for bank finance.

If you are looking for a  capability statement template , we have the perfect solution for you.

Why waste time trying to write a business plan from scratch, time is money! Avail our business planning services today to get solutions that are second to none.  Visit Page And Purchase

My Franchise BusinessPlan

You are looking to purchase a franchise and the franchisor has asked for a business plan. We have written many business plans for all the major Australian franchises.

How we can help you

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Service Options:

The 48 Hour Plan ($495+gst)

The 48 Hour Plan is the perfect solution for those seeking a franchise business plan. Best of all we only need 1 hour of your time and we do all the work. We will include what the franchisor is looking for and also offer the option to have us do the financial projections all banks want to see. $495+gst …more

DIY Options

Template Help (by a real Consultant in Australia) ($275+gst)

You have a business plans template or want to use one. You would like a professional to help you understand the template and personalise it for your own need. A Consultant will help customers by explaining each part of the template in detail, answer questions, help personalise it and remain available for 7 days (BHs)..…more

The Trilogy Workbook and Template ($25+gst)

The Trilogy Workbook and Template lets you write your own franchise business plan. It is a 50 page workbook and we also give you a template to type straight into. It includes helpful tips and hints along the way

Franchise Business Plans ($22)

Actual business plans for major Australian franchises

Men’s Fashion Retail Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Men’s Fashion Retail business plan is a 16 page business plan written for an actualAustralian Men’s Retail Fashion business applying for bank finance.

Why waste time trying to write a business plan from scratch, time is money!

Massage Services Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Massage Services business plan is a 16 page business plan written for an actualAustralian Massage business applying for bank finance.

Lawyers Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Lawyer business plan is a 16 page business plan written for an Australian Legal services business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Landscaper Designers Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Landscape Designers business plan is a 16 page business plan written for an actualAustralian Landscaping business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Ladies Fashion Retail Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Ladies Fashion Retail business plan is a 16 page business plan written for an actual Australian Fashion Retailer business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Jewelry Shop Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The jewelry business plan is a 15 page business plan written for an actual Australian Jewelry business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Ice Cream Shop Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The ice cream shop business plan is a 17 page business plan written for an actualAustralian Ice Cream Shop business applying for bank finance.

Hotel Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The jewelry business plan is a 15 page business plan written for an actual Australian Hotel business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Gym Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Gym business plan is a 16 page business plan written for an actual Australian Gymapplying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Giftwear Shop Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Giftwear Shop business plan is a 16 page business plan written for an actualAustralian Giftwear business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

General Store Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The General Store business plan is a 15 page business plan written for an actual Australian General Store applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Gardners Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Gardener’s business plan is a 16 page business plan written for an actual Australian Gardening business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Furniture Manufacturing Business Plans

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Furniture Retail business plan is a 16 page business plan written for an actual Australian Furniture Retailing business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The White Goods business plan is a 18 page business plan written for an actual Australian White Goods business applying for bank finance.

Wendy’s Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Wendy’s business plan is a 17 page business plan written for an actual Australian Wendy’s business applying for bank finance.

Top Snap Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Top Snap business plan is a 15 page business plan written for an actual Australian Top Snap business applying for bank finance.

Subway Business Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Subway business plan is a 18 page business plan written for an actual Australian Subway business applying for bank finance.

Salsa Fresh Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Salsa Fresh business plan is a 18 page business plan written for an actual Australian Salsa Fresh business applying for bank finance.

Refund Home Loans Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Refund Home Loans business plan is a 15 page business plan written for an actual Australian Refund Home Loans business applying for bank finance.

Nandos Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Nandos business plan is a 19 page business plan written for an actual Indian Nandos Restaurant business applying for bank finance.

If you are looking for a  florist business plan , we have the perfect solution for you.

Muffin Break Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Muffin Break business plan is a 17 page business plan written for an actual Australian Muffin Break business applying for bank finance.

Matchbox Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Matchbox business plan is a 17 page business plan written for an actual Australian Matchbox business applying for bank finance.

Japanese Restaurant Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Japanese Restaurant business plan is a 18 page business plan written for an actual Indian Japanese Restaurant business applying for bank finance.

Italian Restaurant Business Plan

Gloria jeans business plan, foodworks business plan, donut king business plan.

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Donut King business plan is a 17 page business plan written for an actual Australian Donut King business applying for bank finance.

Coffee Club Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Coffee Club business plan is a 14 page business plan written for an actual Australian Coffee Club business applying for bank finance.

Franchise Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The franchise business plan is a 17 page business plan written for an actual Australian franchise business applying for bank finance.

Florist Business Plan

Are you planning to start a florist business and looking for ideas to develop a business plan?

A business plan is an essential document that defines a business and enables you to structure it efficiently. It is a critical document and may be required in the process of availing a loan and setting short and long-term goals. Developing a business plan is a vital step as a well-constructed plan can help you to drive your business towards success.

BusinessPlans offers specialist business planning service that is second to none. If you are looking for a  florist business plan,  avail the service of our experts to develop a  professional business plan . With our experience, we possess the expertise to create bespoke  florist business plans  that can immensely help your business to grow.

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Florist business plan is a 16-page document written for an actual Australian Florist business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

With our efficient business planning service, we intend to simplify it for you. Our business plan is designed to be powerful and can help your business stand out from its competitors.

Get in touch with us today to discuss your requirement and craft an effective  florist business plan.  We just don’t present what you tell us, if we think the matter can be improved we let you know and discuss it with you.

Engineering Services Business Plan

The Engineering Services business plan is a 16 page business plan written for an actual Australian Engineering Services business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Electricians Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Electricians business plan is a 16 page business plan written for an actual Australian Electrician business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Electrical Installation & Cabling Services Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Electrical Installations & Cabling Services business plan is a 16 page business plan written for an actual Australian Electrical & Cabling business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Dog Training School Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Dog Training School business plan is a 16 page business plan written for an actualAustralian Dog Training School business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Day Tours Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Day Tours business plan is a 14 page business plan written for an actual Australian Day Tours business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Counselling Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Counselling business plan is a 16 page business plan written for an actual Australian Counselling business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Computer Repairs Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Computer Repairs business plan is a 16 page business plan written for an actualAustralian Computer Repair business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Commercial Building Safety Services Business Plan

This is an Australian Business Plan. It has been deliberately written in plain language so it is easy to follow. The business plan is emailed to customers in Microsoft Word to allow for easy changes that suit the customers personal circumstances. Visit Page And Purchase

Clothing (wholesale) Business Plan

The Wholesale Clothing business plan is a 16 page business plan written for an actual Australian Clothing Wholesale business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Cleaning Services business plan is a 17 page business plan written for an actualAustralian Cleaning Services business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

This business plan suits both residential and commercial cleaning services.  Visit Page And Purchase

Childrens Clothing Shop Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The Childrens Clothing Shop business plan is a 17 page business plan written for an actualAustralian Childrens Clothing business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Children’s Play Centre Business Plan

Child care centre business plan.

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The child care centre business plan is a 16 page business plan written for an actualAustralian Child Care Centre business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

Charity Business Plan

Avoid the dreaded ‘Blank Page Syndrome’ and do the smart thing by starting your plan with one that’s almost complete. The charity business plan is a 16 page business plan written for an actual Australian charity business applying for bank finance. We have sensitised the plan and made it more generic to make it suit a wider range of businesses. All that is left to do is to follow what we have written and customise the content to reflect your business.

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Writing a business plan

A business plan documents your objectives and the strategies and structures you have in place for achieving them.

Your business plan should explain how you will manage all the important aspects of your business, from products and services to operational plans and finances.

Video: Writing a business plan

Watch our video on why you should write a business plan for your new or current business.

Topics include:

• why it's important to create and review a business plan
• the information to include in your business plan
• using a business plan to achieve your business goals
• downloading and completing our business plan template.

Use a business plan to:

• help you start a new business
• help you improve the performance of an existing business
• attract funding for an investment
• communicate business progress to stakeholders
• communicate business goals and objectives to internal staff members
• attract potential buyers for the business.

A business plan is a 'living' document, so it should evolve and change—think of it as an operating guide for your business throughout the start-up, operations and succession phases.

Download and write a full business plan

Download our free full business plan template and use the guidelines below to write a plan for your business.

There are also other templates available that may better meet your needs—visit business.gov.au .

You should customise your chosen template to suit your business and industry.

We explain below how you can start with a 1-page business plan to ease you into the process of completing the full business plan.

Business plan elements

The elements of your business plan will vary depending on:

• what phase your business is in (starting, running, selling)
• the industry your business is in
• how you choose to use the plan (e.g. for internal development purposes).

Every business plan will be different, but they will generally include similar elements. The sections of our business plan template are listed below—use these as a guide when completing it or as a reference when creating your own.

At the start of your business plan, include the following business details:

• business name
• date registered
• Australian Business Number (ABN)
• Australian Company Number (ACN) – if applicable
• tax file number (TFN)
• business address
• contact details
• website details
• social media details.

Read about choosing a business structure and getting the right licences and registrations .

This section provides an overview of the business concept. It should be attention-grabbing and succinct—the content will be covered in more detail in future sections.

While this is the first section of the plan, it can often help to write it last after the other sections have been finalised.

This helps to ensure that the executive summary covers all the key information within the plan.

It should define:

• what your business vision is
• what your legal structure is
• what products and services you offer
• who your customers are
• what sets you apart from your competitors
• how you will create a market for your products and services
• how you will operate
• what your financial projections are
• how your business or industry will evolve
• who owns or manages your business
• what your short-term and long-term goals are.

Refer to the corresponding sections in our free business plan template:

• 2.1 Products and services
• 2.2 Market analysis
• 2.3 Industry description and outlook
• 2.4 SWOT analysis

In this section, you should highlight your business products and services and describe what makes them unique, such as their:

• limitations
• cost and sale price.

You can also include details of any plans your business has to introduce new products and services.

Your market analysis should describe your target market (e.g. local, international) and target customers.

Add in the research you have done about your industry and the market trends.

In this section, you will also complete a SWOT analysis (strengths, weaknesses, opportunities, threats).

Find out more about researching your market:

• planning and conducting market and customer research
• market research kit .
• 3.1 Current situation
• 3.2 Marketing objectives
• 3.3 Target segments
• 3.4 Competitor analysis
• 3.5 Brand positioning
• 3.6 Marketing programs
• 3.7 Marketing tactics
• 3.8 Key actions
• 3.9 Business controls

A business plan should include a high-level summary of your market research and analysis.

Starting with your current situation, complete your marketing objectives and analysis around your target market and your competitiveness.

Complete your customer and competitor profiles and develop a 1-page brand strategy .

These will help you prepare your marketing plan in section 3 of the template.

Your plan will include marketing tactics and an action plan. You will identify how you will set KPIs and report on your marketing effectiveness.

Learn about:

• branding your business
• writing a marketing strategy and plan .
• 4.1 Sales strategies
• 4.2 Sales analysis and forecast
• 4.3 Customer management

Explain your sales forecasts and targets in this section, and how you will manage customer records and payments. You should understand what sales strategies will work for you and the best channels to market your products or services .

You will also need to know what your current sales, volume and market share are and what you expect them to be for the next 2 years.

Learn about cash flow, invoices and payments and how to collect and store customer information for help with managing customers.

Regardless of your business or industry, you will need to prepare for operating some of your business online.

Note your digital and customer and data-protection strategies in your business plan. You could also include:

• the digital tools and resources that will be used in your business
• the people responsible for overseeing the digital strategy within the business
• details of any security considerations.

Complete a digital health check and learn how to create a digital strategy for your business .

• 6.1 Business structure
• 6.2 Contracts, licences and agreements
• 6.3 Intellectual property
• 6.4 Insurance
• 6.6 Employees
• 6.7 Financial
• 6.8 Legal and ethical trading
• 6.9 Risk management
• 6.10 Business continuity

In this section, record the legal and risk management considerations for your business.

Describe your business structure and the contracts you have now or could have in the future.

If you have a lease or are considering leasing premises, add the terms and conditions of the lease and any actions you need to take to your plan.

To complete the other legal section, learn about:

• legal requirements for businesses
• selecting the right business location
• business insurance
• intellectual property: the basics
• legal and ethical selling
• your responsibilities as an employer .

Search the Australian Business Licence and Information Service (ABLIS) if you need information about licences that relate to your business.

To identify the risks to your business, your business plan should also:

• outline and demonstrate that you have considered the risks to your business (a business risk analysis) and the possible consequences
• summarise the plans you have in place for overcoming these risks.

A risk matrix tool or risk management plan can be developed to help you analyse your business risks—read more about identifying and managing business risk .

You will also need to consider business continuity planning to prepare for unexpected situations.

• 7.1 Location
• 7.2 Production
• 7.3 Current performance
• 7.4 Plant and equipment
• 7.6 List of major suppliers
• 7.7 Stock and inventory

This section will cover all you know about how you do things in your business—for example, your standard operating procedures and how to ensure the quality of your products and services.

To better understand your business operations, read about:

• business processes, procedures and standards
• choosing the right business location
• stock control: the basics .
• 8.1 Management and key personnel
• 8.3 Training
• 8.4 Recruitment
• 8.5 Succession planning

This section helps you note your current workforce structure and plan for the workforce you will have in the future as you grow, and for potentially passing the business to a successor.

Your business plan will detail your business's organisational structure (proposed or actual)—this is often shown as a diagram representing the business hierarchy, different roles within the business and how they relate to one another.

You should also consider succession planning, even if you haven't thought about how you would sell or pass on the business.

• workforce planning for small business
• training and developing staff
• passing a business to a successor .
• 9.1 Start-up costs
• 9.2 Profit and loss forecast
• 9.3 Cash flow forecast
• 9.4 Balance sheet
• 9.5 Financial ratios

Your business plan should include your business finance details—there is a separate business finance template you can also complete.

Summarise your key financial details, including:

• costs for establishing or operating the business
• sales needed to break even
• projected cash flow
• funding arrangements
• payment plans.

You can assess the financial performance of your business using financial ratios .

• 10.1 Review and update business goals
• 10.2 Make a schedule to review your actions

The final section of the business plan should include a set of actions to take before you review your business plan next, and check your progress. This should be over a 6–12 month period, based on the business goals outlined in your plan.

Set a regular review date for the actions and the business plan. Assess which actions have been completed, which remain outstanding and which require updating to help your business plan remain relevant.

Read about skills for running a business to consider ways to improve your time management and leadership.

Optional business plan elements

While not essential, the following can supplement your business plan.

Business vision statement and business values

A comprehensive business vision statement defines what your business does and why it is important.

This could be added in more detail in your business plan and referred to in your executive summary. Find out how to create a business vision .

Business values are the principles, beliefs, and standards of behaviour that guide your business. Including this in your plan will better reflect your goals for the business.

Customer journey strategy

This section could include details of your business's key customer service strategies.

Consider mapping out the intended customer journey—the intended path customers will follow when interacting with your business.

Start with a short business plan

A 1-page business plan can be a good place to start your business planning.

It can cover only high-level information about your business value proposition (i.e. why a customer would want to buy your products and services) and business model.

A one-page plan can include details about:

• your business vision and values
• projected income and expenses
• identified business risks
• the customer segments you intend to target
• the value proposition of your business
• channels that could be used to reach your target customers (e.g. direct or online marketing)
• your customer service plan
• how you will receive payment for products and services
• the activities needed to achieve your outcomes
• the resources you will need
• details of any partners you will use to provide goods and services
• the cost structure for your products and services (based on all items as listed in the plan).

You can search online for tools that can help you create this plan—for example, a value proposition canvas or business model canvas .

Once you are satisfied with this short business plan, you can use it as the basis for your full business plan.

Communicating your business plan

Communicating your business plan to your staff and stakeholders is essential for implementing it and achieving your business goals, even when starting out with a small team.

Some practical tips for communicating the plan include:

• being mindful of your audience—different communication styles will suit different audiences (e.g. you may be able to communicate more informally with your staff than with your stakeholders, board members or investors)
• choosing an appropriate format, time and place—you could hold a staff meeting, schedule a business plan review session and invite all staff and stakeholders to attend, or create an online presentation
• using clear, concise and simple language
• making time to get feedback from your staff and stakeholders.

Read about skills for running a business for tips on developing your communication skills.

Learn about managing people through change .

Review and update your business plan

You will need to regularly review your business plan to ensure that it is relevant, achievable and up to date with any changes in your business.

Consider reviewing your business plan:

• at regular intervals (e.g. quarterly or annually)
• after a business SWOT analysis has been completed
• when raising capital (e.g. approaching the bank for a loan or pitching to an investor)
• before implementing growth strategies or new products
• when new staff members are added to the team
• when implementing a new organisational structure
• before changes in the industry or to legislation
• when preparing to sell the business .

To help you review your own plan, ask yourself the following questions:

• What will the review schedule be?
• Is the plan up to date?
• Have the business goals changed?
• Is the plan still matched to the business goals?
• Are market trends changing?
• Have there been major political, environmental, social or technological changes that affect your business?
• Have there been significant changes in your finances or need for capital?
• Is the plan still 'fit for purpose'?

Business planning resources and tools

The following planning resources and tools below can help you compile and update your business plan to ensure your business is on track to meet its goals.

• Small business planning webinar recording
• Writing a marketing strategy and plan
• Identifying and managing business risk
• Business processes, procedures and standards
• Plan your business finances
• Market and customer research
• Choosing and working with business advisers
• Networking in business
• Ask a mentor – business planning

Learn more about business planning with free, online courses .

Resources for finding licences, permits and codes of conduct

Use the Business Launchpad to discover all your licensing needs, compiled in your own customised guide.

You can also search for licences, permits and codes of practice using the Australian Business Licence and Information Service (ABLIS).

Learn about codes of conduct and codes of practices from:

• the Australian Competition and Consumer Commission
• WorkCover Queensland .
• Last reviewed: 8 Dec 2022
• Last updated: 1 Jun 2023

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If you’re in the early stages of putting together a business plan, having access to reliable, accurate and practical resources is essential. At the Business Plan Company, we want to inspire business owners to get their ideas off the ground. In our resources section, you’ll find a catalogue of helpful Australian business plan templates and examples you can use for your own business planning.

We have a number of free resources available to download, including a small business plan template, startup costs template and projections template. We also have a range of templates tailored to specific business models and industries, so you can achieve a more targeted approach to your business plan.

If you are having a go at putting together your own small business plan or startup business plan, have a look at our business plan examples and use our business plan template to help guide you through the process.

Make your mark in your industry with The Business Plan Company

Give yourself and your business the upper hand by partnering with The Business Plan Company. We have 17 years of experience crafting captivating and professional business plans that successfully convey your ideas, goals and ambitions. To learn more about our business plan services, contact us today. 

Business Plans - Free Samples and Examples

Basic Business Plan - Cafe/Restaurant

Small Business Plan - Cafe/Restaurant

Business Plan

Financials, projections and startup costs templates.

Monthly Projections

Annual Projections

Monthly Projections - Salon

Monthly Projections - Restaurant

Startup Costs Estimate

At The Business Plan Company, we understand how challenging it can be to access accurate and industry-relevant resources when it comes to putting together an effective business plan. In our resources section, you’ll find a range of free Australian business plan templates, examples and a stack of financial, projections and start-up costs templates. 

Whether you own a café, run a salon or an agency, you’ll find an Australian business plan template right for your business and its goals. We’ve also curated a series of YouTube videos that detail how to write a persuasive business plan.

Absolutely. We believe every business stands to walk away learning something new once they’ve gone through our catalogue of Australian business plan examples and templates. We also offer more laser-focused templates and resources for businesses across specific industries, including hospitality and service-based businesses, like salons. 

However, if you would like more tailored business plan templates, get in touch with us, and we’ll work with you to find a more suitable solution. 

No, business owners do not need any unique software to access our Australian business plan templates. Once you have found the template you would like to use, simply input your email address, and the document will appear as a PDF, which you can download to your desktop.

Yes, all our available-to-download Australian business plan examples under the Financials, Projections and Startup Costs Templates section can be used for your business’s financial forecasting and planning. Simply download the right template and start filling in the gaps.

Yes, while our Australian business plan templates are fairly generic and applicable to a range of businesses, we do offer more tailored templates for specific businesses such as cafés, restaurants, salons and start-ups. Our templates also vary in detail, as business owners can access basic and standard Australian business plan templates.

No, all our Australian business plan templates are completely free to download and use.  

Putting together a business plan can be challenging, which is why The Business Plan Company is here to guide you through the process. Our team of business plan consultants can work with you to create a compelling and comprehensive business plan — simply get in touch with us to get started.

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Call us on 1300 171 534 to find out how we can help your business.

Free business plan template

• Download business plan template
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Download a business plan template and start bringing your ideas to life. Choose a one-pager, or multi-pager. Or try Xero accounting software for free.

Download the business plan template

Fill in the form to get a free business plan template as an editable PDF. We’ll send a one-pager and a multi-pager to choose from.

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Getting started with the business plan template

We’ll send you two types of business plan template – a one-pager and a multi-pager. Choose the one that’s right for you. They come with instructions to help fill them out.

Doing a business plan will improve your idea. It helps you think about your business from different points of view. The process will flag up unseen risks, but also new opportunities. Aside from helping refine your idea, a business plan will move it forward. It’ll give you a concrete set of steps to go from ‘I should’ to ‘I did’.

One-page business plan template

Great for making a start

Helps you pin down the main idea

Easy to update as things evolve

Multi-page business plan template

Ideal for nailing down the details

Required by most investors and lenders

Good if you face big startup costs

Tips to help with your business plan

Don’t obsess over every detail to start with. That will make the plan long and hard to change. Keep it short and concise initially.

Financing your business

Need cash to get going? Check out our finance guide.

How to finance your business

Starting a business

Check out our guide for information about getting started.

How to start a business

Find a bookkeeper or accountant

Accoutnants and bookkeepers can help build financial resilience into your business budgets.

Find a financial advisor near you

Plan on making business fun

Are you looking forward to the bookkeeping and accounting that comes with a new business? Na, we didn’t think so. Xero can automate a lot of that stuff away for you.

Xero does not provide accounting, tax, business or legal advice. This template has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business.

Start using Xero for free

Access Xero features for 30 days, then decide which plan best suits your business.

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business.gov.au

business.gov.au is a whole-of-government website for the Australian business community. It provides information, grants, services and support from 3 levels of government to make it easier for business owners to find everything in one place.

The business.gov.au 13 28 46  contact centre  connects businesses to important information and services through phone, email and webchat. The contact centre supports over 60 programs and is a point for referrals to our business advisory networks.

• We are a trusted whole-of-government business resources. We connect consolidate and streamline information for business across all levels of government.
• We deliver free practical tools to help Australian businesses plan, start and grow a business.
• Our discovery tools help businesses find  grants and programs , advisers , and  events and training .
• We provide practical business information with our  guide to starting a business  and a range of checklists and  planning templates .
• We communicate with businesses through our newsletter and social media platforms including  Twitter ,  Facebook ,  LinkedIn  and  YouTube .
• business.gov.au is accessible and operates in line with the Digital Service Standard and government usability, privacy and accessibility guidelines.
• We write our content in plain English and test against the needs of real users to find out what works and what doesn’t. We continuously make changes to the site based on user feedback.

business.gov.au benefits

Website, news and social media.

• Use our whole-of-government website to provide information and updates about your agency's information, services and programs. We consolidate and streamline information for business across all levels of government.
• Leverage our high-traffic web and social media platforms to increase your reach to business.
• Communicate to business and speak their language. We create communication strategies that translate government policy intent into practical terms for business.
• Build on our reputation as a trusted source of information for business. We maintain our trust and integrity by ensuring our content is up-to-date and accurate, and includes links to credible online information and resources.

Contact centre

• Multi-channel services (phone, email and webchat) makes it easy for your customers to access the information and services they want, when and how they want it.
• Open Monday to Friday, 8am to 8pm nationally. Closed on Australian national public holidays.
• We answer 90 per cent of phone calls and webchats within 10 seconds.
• We respond to emails within 1 business day.
• Our specialist agents are trained in business management with between 5 to 10 years’ experience in small business operation. We train our agents to provide advice and assistance tailored to the needs of your customers.
• Our generalist agents provide information and referrals relating to programs and services.
• Our shared contact centre services can significantly reduce costs associated with operating traditional in-house solutions.
• We connect with other Australian Government programs and direct links to face-to-face advisory services.
• We emphasise service excellence at every touch point. We use feedback loops to identify service pain points to drive continuous quality improvement.

Business capability

We will work with you to promote your content through our high-traffic platforms. Annually,  

• business.gov.au has more than 9 million sessions
• more than 190,000 businesses are connected through social media and newsletter subscriptions
• the contact centre handled around 86,000 contacts.

Our specialist team manage our web presence. They have expertise in researching, authoring and maintaining online content relevant to the Australian business community. Our social media experts are adept at promoting content through a range of digital platforms.

Our services

We help federal, state, territory and local government agencies to:

• write and publish information about your agency and programs on the business.gov.au website and social media channels
• provide access to our contact centre service including strategic planning, scripts, training for the agents and data.

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Starting Your Small Business

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How To Start A Business In 11 Steps (2023 Guide)

Updated: Apr 11, 2024

Editorial Note: This content has been independently collected by the Forbes Advisor team and is offered on a non-advised basis. This content is not part of the comparison service provided by RunPath Regulatory Services. Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations.

Starting a business is one of the most exciting and rewarding experiences you can have, and if recent data is to be believed, it is a dream for many Australians. In 2022,  NAB conducted a survey  of 2,000 Aussies that asked whether they would like to start their own business. Despite the crushing impact of Covid on small businesses, some 41% indicated they would love to own their own business, while nearly one in 10 have already started their own business (9%). It is estimated that small and medium businesses are responsible for 56% of  production in the Australian economy, making it an attractive proposition to many workers.

But where do you begin? There are several ways to approach creating a business, with many important considerations. To help take the guesswork out of the process and improve your chances of success, follow our comprehensive guide on how to start a business. We’ll walk you through each step of the process, from defining your business idea to registering with the proper Australian bodies, launching and growing your business.

Related:   Best Side Hustles for 2023

Before You Begin: Get in the Right Mindset

1. determine your business concept, 2. research your competitors and market, 3. create your business plan, 4. choose your business structure, 5. register your business and get licenses, 6. get your finances in order, 7. fund your business, 8. apply for business insurance, 9. get the right business tools, 10. market your business, 11. scale your business, bottom line.

The public often hears about overnight successes because they make for a great headline. However, it’s rarely that simple—they don’t see the years of dreaming, building and positioning before a big public launch. For this reason, remember to focus on your business journey and don’t measure your success against someone else’s. Other people’s lives often look successful from the outside, but it rarely tells the full story.

Consistency Is Key

New business owners tend to feed off their motivation initially but get frustrated when that motivation wanes. This is why it’s essential to create habits and follow routines that power you through when motivation goes away.

Take the Next Step

Some business owners dive in headfirst without looking and make things up as they go along. Then, there are business owners who stay stuck in analysis paralysis and never start. Perhaps you’re a mixture of the two—and that’s right where you need to be. The best way to accomplish any business or personal goal is to write out every possible step it takes to achieve the goal. Then, order those steps by what needs to happen first. Some steps may take minutes while others take a long time. The point is to always take the next step.

Related:   Best Small Business Ideas for Australians

Most business advice tells you to monetise what you love, but it misses two other very important elements: it needs to be profitable and something you’re good at. For example, you may love music, but how viable is your business idea if you’re not a great singer or songwriter? Maybe you love making soap and want to open a soap shop in your neighbourhood that already has three close by—it won’t be easy to corner the market when you’re creating the same product as other nearby retailers.

If you don’t have a firm idea of what your business will entail, ask yourself the following questions:

• What do you love to do?
• What do you hate to do?
• Can you think of something that would make those things easier?
• What are you good at?
• What do others come to you for advice about?
• If you were given ten minutes to give a five-minute speech on any topic, what would it be?
• What’s something you’ve always wanted to do, but lacked resources for?

These questions can lead you to an idea for your business. If you already have an idea, they might help you expand it. Once you have your idea, measure it against whether you’re good at it and if it’s profitable.

Your business idea also doesn’t have to be the next Atlassian or Canva. Instead, you can take an existing product and improve upon it. Or, you can sell a digital product so there’s little overhead—something that both Atlassian and Canva turned into an artform.

What Kind of Business Should You Start?

Before you choose the type of business to start, there are some key things to consider:

• What type of funding do you have?
• How much time do you have to invest in your business?
• Do you prefer to work from home or at an office or workshop?
• What interests and passions do you have?
• Can you sell information (such as a course), rather than a product?
• What skills or expertise do you have?
• How fast do you need to scale your business?
• What kind of support do you have to start your business?
• Are you partnering with someone else?
• Does the franchise model make more sense to you?

Consider Popular Business Ideas

Not sure what business to start? Consider one of these popular business ideas:

• Start a Franchise
• Start a Blog
• Start an Online Store
• Start a  Dropshipping Business
• Start a Cleaning Business
• Start a Bookkeeping Business
• Start a Clothing Business
• Start a Landscaping Business
• Start a Consulting Business
• Start a Photography Business
• Start a Pet Minding Business

Related:  How to Make Money From Home

Most entrepreneurs spend more time on their products than they do getting to know the competition. If you ever apply for outside funding, the potential lender or partner wants to know: what sets you (or your business idea) apart? If market analysis indicates your product or service is saturated in your area, see if you can think of a different approach. Take housekeeping, for example—rather than general cleaning services, you might specialise in homes with pets.

Primary Research

The first stage of any competition study is primary research, which entails obtaining data directly from potential customers rather than basing your conclusions on past data. You can use questionnaires, surveys and interviews to learn what consumers want. Surveying friends and family isn’t recommended unless they’re your target market. People who say they’d buy something and people who do are very different. The last thing you want is to take so much stock in what they say, create the product and flop when you try to sell it because all of the people who said they’d buy it don’t because the product isn’t something they’d actually buy.

Secondary Research

Use existing sources of information, such as census data, to gather information when you do secondary research. The current data may be studied, compiled and analysed in various ways that are appropriate for your needs but it may not be as detailed as your initial research.

Conduct a SWOT Analysis

SWOT stands for strengths, weaknesses, opportunities and threats. Conducting a SWOT analysis allows you to look at the facts about how your product or idea might perform if taken to market, and it can also help you make decisions about the direction of your idea. Your business idea might have some weaknesses that you hadn’t considered or there may be some opportunities to improve on a competitor’s product.

Asking pertinent questions during a SWOT analysis can help you identify and address weaknesses before they tank your new business.

A business plan is a dynamic document that serves as a roadmap for establishing a new business. This document makes it simple for potential investors, financial institutions and company management to understand and absorb. Even if you intend to self-finance, a business plan can help you flesh out your idea and spot potential problems. When writing a well-rounded business plan, include the following sections:

• Executive summary:  The executive summary should be the first item in the business plan, but it should be written last. It describes the proposed new business and highlights the goals of the company and the methods to achieve them.
• Company description:  The company description covers what problems your product or service solves and why your business or idea is best. For example, maybe your background is in molecular engineering, and you’ve used that background to create a new type of athletic wear—you have the proper credentials to make the best material.
• Market analysis:  This section of the business plan analyses how well a company is positioned against its competitors. The market analysis should include target market, segmentation analysis, market size, growth rate, trends and a competitive environment assessment.
• Organisation and structure:  Write about the type of business organisation you expect, what risk management strategies you propose and who will staff the management team. What are their qualifications? Will your business be a single-member  company or a corporation?
• Mission and goals:  This section should contain a brief mission statement and detail what the business wishes to accomplish and the steps to get there. These goals should be SMART (specific, measurable, action-orientated, realistic and time-bound).
• Products or services:  This section describes how your business will operate. It includes what products you’ll offer to consumers at the beginning of the business, how they compare to existing competitors, how much your products cost, who will be responsible for creating the products, how you’ll source materials and how much they cost to make.
• Background summary:  This portion of the business plan is the most time-consuming to write. Compile and summarise any data, articles and research studies on trends that could positively and negatively affect your business or industry.
• Marketing plan:  The marketing plan identifies the characteristics of your product or service, summarises the SWOT analysis and analyses competitors. It also discusses how you’ll promote your business, how much money will be spent on marketing and how long the campaign is expected to last.
• Financial plan:  The financial plan is perhaps the core of the business plan because, without money, the business will not move forward. Include a proposed budget in your financial plan along with projected financial statements, such as an income statement, a balance sheet and a statement of cash flows. Usually, five years of projected financial statements are acceptable. This section is also where you should include your funding request if you’re looking for outside funding.

Come Up With an Exit Strategy

An exit strategy is important for any business that is seeking funding because it outlines how you’ll sell the company or transfer ownership if you decide to retire or move on to other projects. An exit strategy also allows you to get the most value out of your business when it’s time to sell. There are a few different options for exiting a business, and the best option for you depends on your goals and circumstances.

The most common exit strategies are:

• Selling the business to another party
• Passing the business down to family members via a succession plan
• Liquidating the business assets
• Closing the doors and walking away

Develop a Scalable Business Model

As your small business grows, it’s important to have a scalable business model so that you can accommodate additional customers without incurring additional costs. A scalable business model is one that can be replicated easily to serve more customers without a significant increase in expenses.

Some common scalable business models are:

• Subscription-based businesses
• Businesses that sell digital products
• Franchise businesses
• Network marketing businesses

Start Planning for Taxes

One of the most important things to do when starting a small business is to start planning for taxes. Taxes can be complex, and there are several different types of taxes you may need to consider, including income tax and GST. Depending on the type of business you’re operating, you may also be required to pay other taxes, such as payroll tax. Not all business in Australia have to pay payroll tax. Check out this  government guide  for more details.

When structuring your business, it’s essential to consider how each structure impacts the amount of taxes you owe, daily operations and whether your personal assets are at risk.

Sole Trader

As the name implies, a sole trader refers to a company of one, a sole operation, in other words, and is the simplest form of a business structure. Sole traders don’t need to set up a separate bank account (although this is recommended), and usually obtaining an ABN is all you need to get started. .

• Simple, low-cost business structure
• Full control of your business
• Can file tax returns simply with your individual tax file number.
• Must keep financial records for at least five years
• Few tax benefits
• You’re personally liable and your assets are at risk if things go wrong

Partnerships

A partnership is a business structure involving two or more people who share ownership of the income. There are three kinds of partnerships in Australia: a  general partnership , in which all partners are equally responsible and each has unlimited liability for the debts of the business; a  limited partnership , in which each partner’s liability is confined to the amount of money they have committed to the business and is generally made up of silent or passive investors; and finally  incorporated limited partnerships , whereby partners have limited liability for the debts of the business. Under this last business structure, however, there must be at least one general partner with unlimited liability.

• Partners can choose to have limited liability for the debts and actions of certain kinds of partnerships
• Relatively easy to form and don’t require much paperwork
• There’s no limit to the number of partners
• You don’t pay income tax on business income, rather each partner pays tax on their share of the net partnership income.
• Some partners are required to actively take on liability in certain partnerships
• Each partner must manage their own superannuation contributions
• All partners are personally liable for any malpractice claims against the business
• Must lodge a partnership tax return with the ATO each year
• Each state and territory has separate laws. You can  read more about these here .

A company is a separate legal entity, but, like a person, can incur debt and be sued. Companies are more complicated to set up than partnerships, but members are not liable for the company’s debts. However, directors may be held personally liable if they breach their obligations.

• Company members have limited liability
• Suits companies with variable incomes
• Can access a wider pool of capital to raise funds
• Higher set-up and running costs than other business structures
• Requires an annual review by ASIC (and a fee)
• Requires members to comply with the  Corporations Act 2001

A trust is a business structure, in which a trustee—either a company or a person—carries out the duties of the business on behalf of the trust’s members, more commonly known as beneficiaries. Trust structures are generally set up to protect the business assets for members, and are complicated and often expensive to set up.

• Business assets are protected
• Trustee decided how business profits are to be distributed, giving complete control
• Trusts can be difficult to disband or alter
• Require a large range of administrative work, before set-up and during the life of the trust.

Before you decide on a business structure, discuss your situation with a trust accountant,  advisor  or qualified solicitor, as each business type has different tax treatments, requirements and obligations that could affect your bottom line.

There are several legal issues to address when starting a business after choosing the business structure. The following is a good checklist of items to consider when establishing your business:

Choose and Register Your Business Name

Make it memorable but not too difficult. Choose the same domain name, if available, to establish your internet presence. A business name cannot be the same as another registered company, nor can it infringe on another trademark or service mark that is already registered.

You will be given the option of registering a business name for one or three years. If it’s your first year in business, you may wish to opt for the one-year to see how you go, before locking in a longer-term business name. All business names used in Australia are registered with ASIC, and you can check if your business name is available with  ASIC’s online checker tool . Certain words are not legally available to use in your small business, and these are terms that may confuse consumers as to the nature of your set-up. For example, the terms ‘Incorporated’, ‘university’, and bank’ are all considered no-go zones by ASIC.

Company Obligations

If you choose to start a company, your obligations will be much higher and more onerous than if you go it alone as a sole trader. You will need to register the company with ASIC, and ensure that the business name is renewed before it expires.  You will need to keep ASIC informed of any changes to your company, including to the company’s registered office, directors and business names within 28 days or face paying late fees. ASIC will send you an annual statement each year and it will be your job to check the statement for accuracy and pay the annual review fee.

Get Appropriate Licenses and Permits

Legal requirements are determined by your industry, the nature of your business and your business structure. Most businesses need a mixture of licenses and permits to operate. The Australian Government has a  handy search tool  that allows you to find relevant permits for your business structure and type. If you’re still not sure consult a professional business advisor to help guide you through the process.

Open a Business Bank Account

Keep your business and personal finances separate. If your business structure is a company, trust or partnership, then you legally need a separate bank account for tax purposes. Even if you are a sole trader, setting up a separate bank account will help you manage your finances and keep track of business expenditure and profits. Many Australian banks offer dedicated business accounts, many with no monthly fee, so it’s worth doing your homework on which one would suit you best.

This business bank account can be used for your business transactions, such as paying suppliers or invoicing customers. Most times, a bank will require a separate business bank account in order to issue a business loan or line of credit.

Hire a Bookkeeper or Get Accounting Software

If you sell a product, you need an inventory function in your accounting software to manage and track inventory. The software should have ledger and journal entries and the ability to generate financial statements.

Some software programs double as bookkeeping tools. These often include features such as check writing and managing receivables and payables. You can also use this software to track your income and expenses, generate invoices, run reports and calculate taxes.

There are many bookkeeping services available that can do all of this for you, and more. These services can be accessed online from any computer or mobile device and often include features such as invoicing. Check out the range of accounting software for small businesses in the market, or see if you want to handle the bookkeeping yourself.

Determine Your Break-Even Point

Before you fund your business, you must get an idea of your startup costs. To determine these, make a list of all the physical supplies you need, estimate the cost of any professional services you will require, determine the price of any licenses or permits required to operate and calculate the cost of office space or other real estate. Add in the costs of payroll and overheads, if applicable.

Businesses can take years to turn a profit, so it’s better to overestimate the startup costs and have too much money than too little. Many experts recommend having enough cash on hand to cover six months of operating expenses.

When you know how much you need to get started with your business, you need to know the point at which your business makes money. This figure is your break-even point.

In contrast, the  contribution margin = total sales revenue – cost to make product

For example, let’s say you’re starting a small business that sells miniature birdhouses for fairy gardens. You have determined that it will cost you $500 in startup costs. Your variable costs are $0.40 per birdhouse produced, and you sell them for $1.50 each.

Let’s write these out so it’s easy to follow:

This means that you need to sell at least 456 units just to cover your costs. If you can sell more than 456 units in your first month, you will make a profit.

There are many different ways to fund your business—some require considerable effort, while others are easier to obtain. Two categories of funding exist: internal and external.

Internal funding includes:

• Personal savings
• Credit cards
• Funds from friends and family

If you finance the business with your own funds or with credit cards, you have to pay the debt on the credit cards and you’ve lost a chunk of your wealth if the business fails. By allowing your family members or friends to invest in your business, you are risking hard feelings and strained relationships if the company goes under. Business owners who want to minimise these risks may consider external funding.

External funding includes:

• Small business loans
• Small business grants
• Angel investors
• Venture capital
• Crowdfunding

Small businesses may have to use a combination of several sources of capital. Consider how much money is needed, how long it will take before the company can repay it and how risk-tolerant you are. No matter which source you use, plan for profit. It’s far better to take home six figures than make seven figures and only keep $80,000 of it.

Funding ideas include:

• Business loans:  Apply for a business loan, which is similar to a personal line of credit. The credit limit and interest rate will be based on your business’s revenue, credit score and financial history.
• Equipment financing:  If you need to purchase expensive equipment for your business, you can finance it with a loan or lease.
• Grants:  The federal government offers grants for businesses that promote innovation, export growth or are located in historically disadvantaged areas. You can also find grants through local and regional organizations.
• Crowdfunding:  With crowdfunding, you can raise money from a large group of people by soliciting donations or selling equity in your company.

Choose the right funding source for your business by considering the amount of money you need, the time frame for repayment and your tolerance for risk.

Chances are, you will need to have insurance for your business, even if it’s a home-based business or you don’t have any employees. The type of insurance you need depends on your business model and what risks you face. You might need more than one type of policy, and you might need additional coverage as your business grows.  In Australia, there are three kinds of compulsory insurance, these are:

• Workers’ compensation insurance if you have employees, in case they are injured while on the job
• Compulsory party personal injury insurance,  if you own a car. This is often paid for as part of your vehicle registration fee or green-slip.
• Public liability insurance covers you for third party death or injury, and is relevant if you set up your business in a public space, such as a market stall.

There are other forms of insurance that you may also wish to take out, including:

• Business interruption or loss of profits insurance is for if your business suffers from interruption due to damage to property. It can help you keep the business ticking over
• Income protection insurance  provides a set amount of your usual income from the business if you are ill and unable to work for a certain period
• Professional indemnity insurance, which is especially important for knowledge-based work, and protects you against a defamation case
• Total and permanent disability insurance, which is usually accessed through superannuation, and provides a pay-out in the case of injury causing permanent disability
• Building and contents insurance protects your business against hazardous events such as fire, storms, floods, malicious damage, and so forth

These are but a handful of the different types insurance your business may need. Visit the Australian Government’s  Business Insurance page  for a comprehensive overview.

Business tools can help make your life easier and make your business run more smoothly. The right tools can help you save time, automate tasks and make better decisions.

Consider the following tools in your arsenal:

• Accounting software:  Track your business income and expenses, prepare financial statements and file taxes. Examples include QuickBooks, FreshBooks and Rounded, which is popular among freelancers.
• Customer relationship management (CRM) software:  This will help you manage your customer relationships, track sales and marketing data and automate tasks like customer service and follow-ups. Examples include Zoho CRM and monday.com.
• Project management software:  Plan, execute and track projects. It can also be used to manage employee tasks and allocate resources. Examples include Airtable, Canva or Trello.
• Credit card processor:  This will allow you to accept credit card payments from customers. Examples include Stripe and PayPal.
• Point of sale (POS):  A system that allows you to process customer payments. Some accounting software and CRM software have POS features built-in.
• Virtual private network (VPN):  Provides a secure, private connection between your computer and the internet. This is important for businesses that handle sensitive data. Examples include NordVPN and ExpressVPN. You can read our list of the  best VPNs here.
• Merchant services:  When customers make a purchase, the money is deposited into your business account. You can also use merchant services to set up recurring billing or subscription payments. Examples include Square and Stripe.
• Email hosting:  This allows you to create a professional email address with your own domain name. Examples include G Suite and Microsoft Office 365.

Many business owners spend so much money creating their products that there isn’t a marketing budget by the time they’ve launched. Alternatively, they’ve spent so much time developing the product that marketing is an afterthought.

Create a Website

Even if you’re a brick-and-mortar business, a web presence is essential.  Creating a website  doesn’t take long, either—you can have one done in as little as a weekend. You can make a standard informational website or an e-commerce site where you sell products online. If you sell products or services offline, include a page on your site where customers can find your locations and hours. Other pages to add include an “About Us” page, product or service pages, frequently asked questions (FAQs), a blog and contact information.

Optimise Your Site for SEO

After getting a website or e-commerce store, focus on optimising it for search engines (SEO). This way, when a potential customer searches for specific keywords for your products, the search engine can point them to your site. SEO is a long-term strategy, so don’t expect a tonne of traffic from search engines initially—even if you’re using all the right keywords.

Create Relevant Content

Provide quality digital content on your site that makes it easy for customers to find the correct answers to their questions. Content marketing ideas include videos, customer testimonials, blog posts and demos. Consider content marketing one of the most critical tasks on your daily to-do list. This is used in conjunction with posting on social media.

Get Listed in Online Directories

Customers use online directories like Yelp, Google My Business and Facebook to find local businesses. Some local councils and chambers of commerce have business directories too. Include your business in as many relevant directories as possible. You can also create listings for your business on specific directories that focus on your industry.

Develop a Social Media Strategy

Your potential customers are using social media every day—you need to be there too. Post content that’s interesting and relevant to your audience. Use social media to drive traffic back to your website where customers can learn more about what you do and buy your products or services.

You don’t necessarily need to be on every social media platform available. However, you should have a presence on Facebook and Instagram because they offer e-commerce features that allow you to sell directly from your social media accounts. Both of these platforms have free ad training to help you market your business.

To scale your business, you need to grow your customer base and revenue. This can be done by expanding your marketing efforts, improving your product or service, collaborating with other creators or adding new products or services that complement what you already offer.

Think about ways you can automate or outsource certain tasks so you can focus on scaling the business. For example, if social media marketing is taking up too much of your time, consider using a platform such as Hootsuite to help you manage your accounts more efficiently. You can also consider outsourcing the time-consumer completely.

You can also use technology to automate certain business processes, including accounting, email marketing and lead generation. Doing this will give you more time to focus on other aspects of your business.

When scaling your business, it’s important to keep an eye on your finances and make sure you’re still profitable. If you’re not making enough money to cover your costs, you need to either reduce your expenses or find ways to increase your revenue.

Build a Team

As your business grows, you’ll need to delegate tasks and put together a team of people who can help you run the day-to-day operations. This might include hiring additional staff, contractors or freelancers.

Resources for building a team include:

• Hiring platforms:  To find the right candidates, hiring platforms, such as Indeed and Glassdoor, can help you post job descriptions, screen résumés and conduct video interviews.
• Job boards:  Job boards allow you to post open positions for free.
• Social media:  You can also use social media platforms such as LinkedIn and Facebook to find potential employees.
• Freelance platforms:  Using Upwork and Freelancer can help you find talented freelancers for one-time or short-term projects. You can also outsource certain tasks, such as customer service, social media marketing or bookkeeping.

You might also consider partnering with other businesses in your industry. For example, if you’re a wedding planner, you could partner with a florist, photographer, catering company or venue. This way, you can offer your customers a one-stop shop for all their wedding needs. Another example is an e-commerce store that partners with a fulfilment centre. This type of partnership can help you save money on shipping and storage costs, and it can also help you get your products to your customers faster.

To find potential partnerships, search for businesses in your industry that complement what you do. For example, if you’re a web designer, you could partner with a digital marketing agency.

You can also search for businesses that serve the same target market as you but offer different products or services. For example, if you sell women’s clothing, you could partner with a jewellery store or a hair salon.

Starting a small business takes time, effort and perseverance. But if you’re willing to put in the work, it can be a great way to achieve your dreams and goals. Be sure to do your research, create a solid business plan and pivot along the way. Once you’re operational, don’t forget to stay focused and organised so you can continue to grow your business.

Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.

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How do I start a small business with no money?

There are several funding sources for brand new businesses and most require a business plan to secure it. These include government grants, angel investors, crowdfunding and venture capital.

What is the best business structure?

The best business structure for your business will depend entirely on what kind of company you form, your industry and what you want to accomplish. But any successful business structure will be one that will help your company set realistic goals and follow through on set tasks.

Do I need a business credit card?

You don’t need one, but a business credit card can be helpful for new small businesses. It allows you to start building business credit, which can help you down the road when you need to take out a loan or line of credit.

Do I need a special license or permit to start a small business?

The answer to this question will depend on the type of business you want to start and where you’re located. The Australian Government has a tool that allows you to view what permits, licences and registrations you may need via its  business registrations page .

How much does it cost to create a business in Australia?

The cost of starting a business will vary depending on the size and type of company you want to create. For example, a home-based business will be less expensive to start than a brick-and-mortar store. Additionally, the cost of starting a business will increase if you need to rent or buy commercial space, hire employees or purchase stock. You could potentially get started for free by  dropshipping  or selling digital goods.

How do I get a loan for a new business?

The best way to get a loan for a new business is to approach banks or other financial institutions and provide them with a business plan and your financial history.

Do I need a business degree to start a business?

No, you don’t need a business degree to start a business. However, acquiring a degree in business or a related field can provide you with the understanding and ability to run an effective company. Additionally, you may want to consider taking some business courses if you don’t have a degree in order to learn more about starting and running a business. You can find many of these online—you don’t need an expensive MBA.

What are some easy businesses to start?

One of the easiest businesses to start also has the lowest overhead: selling digital goods. This can include items such as e-books, online courses, audio files or software. If you have expertise in a particular area or niche, this is a great option for you. Dropshipping is also a great option because you don’t have to keep stock on hand. Or, you could buy wholesale products or create your own. Once you create your product, you can sell it through your own website or third-party platforms such as Amazon or Etsy.

What is the most profitable type of business?

There is no one answer to this question because the most profitable type of business will vary depending on a number of factors, such as your industry, location, target market and business model. However, some businesses tend to be more profitable than others, such as luxury goods, high-end services, business-to-business companies and subscription-based businesses. If you’re not sure what type of business to start, consider your strengths and interests, as well as the needs of your target market, to help you choose a profitable business idea.

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Our guide to writing a business plan like a pro

If you’re looking to start a new business, an essential first step is to put together a business plan. Here are a few important elements to consider.

Business specialist ANZ Financially Ready

2023-11-23 05:30

What is a business plan?

• Business plans are an essential for all businesses
• What you need to include in your business plan
• Tools and templates to get you started

If you’re looking to start a new business, one of the first things you should do is put together a business plan. Like with anything in life, you can save yourself a lot of stress and grey hairs down the track if you take the time to set goals, think things through properly and implement systems from the get-go.

In its simplest form, a business plan is a document – physical or digital – that explains the goals of a business, how it will achieve them and generally how it will function. A business plan can also contain essential information, such as organisational structure, key staff and your product or service offerings.

While typically just an internal document,  a business plan can be very useful when trying to secure funding.  Both potential investors and banks will be interested in seeing it when considering if they should invest in your business.  So, it pays to have a plan in place.

Why is a business plan important?

Business plans can help you dig a little deeper and get a better understanding on different areas of your business. For example, it might help you understand how you’ll collect customer data or how to manage risks.

Another great reason why a business plan is a must-have is that it can help you refine how your business can make money. These plans give you the opportunity to conduct market research and identify gaps or work out what your value proposition truly is and how you can get an advantage over your competitors.

Filling out this document can also help you streamline other areas within your business, such as your finances and marketing. By having a holistic view of your business, you can make confident choices that are consistent with its values and direction.

What should you include in a business plan?

No two business plans are alike, but there are some things that all business plans should have, regardless of your business’ industry and type. As a starting point, we’re going to explain the different types of information that you might include in your business plan. You can also download our business plan template and follow along as we go through this list.

Business description

You need to describe the fundamentals of your business. Begin by asking yourself, "What industry am I in?" Answer this question with details about your products or services and the markets you intend to target.

Goals and objectives

Any business plan must have your business’ goals for the short-, medium- and long-term periods. These goals should be clearly and carefully defined and explain where your business intends to go and by when.

Objectives are the actual steps that your business will need to take to reach each goal. They tell you how to get where you want to go, helping your business focus on what matters. When writing your objectives, consider the different ways you will achieve your goals. What will you do? Who will be involved?

Risk management

Identifying the risks your business might face, and how you manage those risks, is essential for any business plan. By including risk management into your business plan, you can adopt a consistent approach to managing risks as a business, and all staff understand what they need to do should a risk occur.

Price positioning and strategy

How are you going to position your product or service in the market? Will you price low and compete on price with the aim of selling large volumes, or will you position your goods as luxury items? Your customers will want to get what they pay for, so it is important to be consistent with your price positioning.

Core competitive advantage

A core competitive advantage will help your business differentiate its goods or services from those of your competition. Conduct competitor research and compare your business to your competitors – think about how your offering can stand out from the crowd.

Cash flow forecast

It's vital to have an idea of your financial liquidity over a certain time period, say 12 months. Get a plan underway with a cash flow forecast (xlsx) that outlines each month’s projected cash on hand, receipts, payments and overall cash balance.

Ensure that you include every item and consider seasonal changes in sales. In addition, plan multiple scenarios such as an optimistic sales forecast and a pessimistic sales forecast.

Market research

Market research should be a core component of your business plan. Whether you get customer feedback through a short survey or face-to-face focus group, quality research can help you understand what your target market wants and enjoys about your offerings.

Both primary research (surveys, interviews and speaking to customers) and secondary research (government statistics, trade publications and information that's already been gathered) can be useful for improving different areas of business, such as the product itself, product distribution and your marketing channels.

Marketing plan

Now that you’ve conducted market research, you can use those findings to develop a comprehensive marketing strategy . You can determine which channels will work best for your product and market. For example, a fashion boutique targeted towards Gen Z might focus on social media and online marketing, whereas a professional services consultancy might focus more on local area marketing or networking events.

Ongoing development strategy

Your business plan may be most useful when establishing your business, but reviewing and improving your strategy as your business moves forward is just as important.

For your business to continue to develop and grow, you'll need to consistently check its foundations and structure while looking for areas that could do with a little refinement.

If you’re ready to start developing your own business plan, then you can download our Business plan template (PDF) . Or you can download and our Growing your business checklist (PDF) as a starting point.

Related articles

Ways to grow your business.

Ready to take your business to the next level? Start with these simple strategies.

Give your business direction with a clear strategy

We highlight the importance of taking time to think strategically and how to do it effectively.

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How to write a business plan

6-minute read

You've got a great idea and you're keen to get started. But for the best chance of success it's important to put together a detailed business plan that describes and establishes key aspects of your new enterprise.

What we'll cover

• Why you should write a business plan  
• The key elements of a strong business plan
• Where to get a business plan template
• How to take payments in your business.  

Key take-outs

• A good business plan helps you prioritise efforts, control outcomes, and establish business credibility
• Include details about your products or services, market, business structure, ownership, marketing, operations and finance
• Use your business plan to list and monitor ongoing action items as your business develops
• Review and refine your business plan regularly.

Why do I need a business plan?

Every business owner knows that part of the challenge is juggling all the elements and demands that have to be considered, as well as regulatory requirements. You have to become an instant expert on areas that may be outside your expertise, such as commercial property, business insurance, advertising, marketing and employment law, plus much more.  

A good business plan helps you separate out each aspect of your business, so you can focus on one factor at a time, rather than all at once. Other reasons to engage in this type of planning process are:  

• Helps you prioritise your efforts Stepping back from the granular details of starting and running a new business gives you time to reflect on the big picture, considering the things that will really matter to your future customers. That in turn will inform the priorities you need to focus on.  
• Gives you more control of outcomes The discipline of working through a plan – and constantly refining it over time – will encourage you to think about the factors that’ll most influence your likelihood of success. What’s working? And what isn’t?
• Supports you if you’re seeking finance Banks and other lenders – or potential investors – will expect to see a solid business plan to reassure them that your new enterprise is well run.

What needs to go into a business plan?

Every business is different, so there’s no definitive business plan structure – but here are some key elements you should consider for inclusion. It’s important to think of your plan as a living, breathing document that evolves over time as you build your business and gain knowledge, insights and experience along the way.

1. Executive Summary

Leave drafting this brief overview until last. It should summarise and define all other elements of the business plan, and cover:

• Your business vision and mission statement
• Differentiation from similar businesses
• Target market
• Company description and operating model
• Business ownership and management
• Expansion plans
• Short-term and long-term goals.  

2. Business and market analysis

Here’s where you talk about what type of business you’re starting and how it’ll fit into the local and broader market. Include things such as:  

• Style of business and the products and services you plan to offer
• Any competitive advantage you have
• Market research and competitor analysis
• Industry trends
• SWOT (strengths, weaknesses, opportunities and threats) analysis of your business idea.  

3. Marketing strategy

However great your business idea is, you can’t just start trading and hope for the best. In this section of your business plan give some thought to:  

• Marketing budgets – launch and ongoing
• Marketing objectives – what you hope to achieve in the short and long term
• Target markets – there may be different sectors you can target
• Brand position – the name and personality of your business
• Value proposition – such as competitively priced or prestige
• Digital optimisation – website and social media marketing
• Key marketing mediums – from leaflet drops to broadcast.  

4. Business structure and legal

You’ll need to choose a business structure (e.g., sole trader, partnership, company), which will generally reflect ownership and your desired level of liability. Other aspects to refer to in your business plan include:  

• Any licences you’ll need in order to operate
• Your responsibilities as an employer.  

5. Operating plan

Here you can detail how you plan to operate on a day-to-day basis, covering areas such as:  

• Sales channels (how and where you’ll be operating)
• Suppliers (how and where you’ll source any supplies or products you need)
• Vehicles and equipment (buy or lease)
• How you’ll take payments (see a section on this later)
• Management team (day-to-day)
• Roles and staffing levels (full-time versus part-time and casual)
• Contingency plans (for downturn periods, staff issues, weather, etc.).  

6. Financial plan

If you need a business loan to support your business, lenders will want to see your business plan, including details of:

• Start-up costs
• Operating expenses including labour costs
• Profit and loss forecast
• Cash flow statement and forecast
• Financial projections and ratios
• Results and balance sheets (once you’re trading).  

7. Action plan

This will likely be the most dynamic section of your business plan. It’s where you review and update business goals and note lessons learned and actions required in response to trading activity and market fluctuations.  

List the actions you plan to take before you review your business plan next; and note down any ongoing actions that have yet to be completed.

Where can I get a business plan template?

A search online will reveal numerous downloadable business plan templates. Accounting software services such as MYOB and Xero publish templates online too.

To save you looking further, the Australian Government’s Business website has a free business plan template you can download in Microsoft Word format. Or you could simply create your own template using the headings listed in this article.

How should I take payments in my new business?

The methods you’ll use to take payments should be detailed in your operating plan. Will you be getting paid remotely, face to face, or online? Or any combination of those? One of the keys to getting paid fast is to make it as simple as possible for customers to pay you. So, it’s a good idea to choose options that help them pay you the way they want to.

• Getting paid on invoice: I f your customers will be making bank-to-bank payments, you can just give them the BSB and account number of your bank account. However, if you’d rather not share your bank account details, you can ask customers to pay into your account using PayID ®, meaning you’ll only need to provide the unique number you’ve registered for the service – which could be your mobile number or ABN.
• Face-to-face payments: Depending on the nature of your business, you may want to take credit card and digital wallet payments with an  EFTPOS machine ; in which case you’ll need to decide if you want an  EFTPOS terminal that integrates with your point of sale (POS) system . Or for ultimate flexibility and portability, you can download and apply for the  EFTPOS Air  app to your compatible smartphone, which once finalised would allow you to take secure payments using your mobile alone. EFTPOS Air also features point of sale capabilities, so you can build menus of products or services on it.
• Online payments: If you’re building an eCommerce website using an off-the-shelf platform, it may already incorporate a payment gateway. But if you’re looking for your own way of accepting card payments online or by phone, you may wish to consider one of the eCommerce solutions provided by Westpac.  

The prospect of launching a new business is exciting and you’ll be keen to get started as soon as possible. It pays to invest time in detailing the mechanics of your business. A comprehensive business plan will set you off on a solid path to a successful enterprise, well prepared for the challenges ahead.

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The information in this article is general in nature; does not take your objectives, financial situation or needs into account; and does not constitute financial or taxation advice. Consider its appropriateness to these factors; and we recommend you seek independent professional advice about your specific circumstances before making any decisions.

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8 Things You Should Know About Australia’s Business Culture

8 Excellent Reasons to Invest in Australia

Doing business in australia know these key terms, australia isn’t called the lucky country for nothing..

With enviable beaches stretching along the coast, to vast mountainous regions, and on to natural wonders within the red centre, Australia is one of the most beautiful places on the planet. 

Australians pride themselves for their work / life balance (so much so, that Sydney was 8th in the world for 2022), great coffee, and relaxed attitude. It’s all about ‘no worries’ and ‘she’ll be right’ (it will be okay); ━ proof that they don’t take themselves too seriously and loathe it when others do. 

Australia is underpinned by an egalitarian culture , which can be quite different to what you are used to. Egalitarian culture is all about considering each other equal. For example, it’s very common in Australia for those taking a taxi to sit in the front with the driver.  

If you’re considering coming to Australia or taking on a client from Australia, you may want to learn more about the land Down Under, and how they do business. 

1. Tall Poppy Syndrome

You can’t talk about Australia without mentioning the elephant (or rather, poppy) in the room. Tall poppy syndrome stems from egalitarianism, which is essentially the idea that everyone is equal and no one is ‘above’ the other.  

Tall poppy syndrome, refers to the act of disparaging or discrediting those who are successful . This has led to a modest way of speaking of one’s achievements and as such, bragging about your achievements in Australia won’t do you any favours.  

Australians therefore typically downplay their own success and would side eye those that do not. This can be hard to get your head around; however, this is arguably the most important part of Australian culture. It underpins the way Australians act and conduct themselves – it is essential to understand in order to build good relations, and to not do so will give off the perception of arrogance. Additionally, of all the points presented, Tall Poppy Syndrome is the most widespread, and one you will most likely experience regardless of industry or company.

2. Meetings

Known for its laid-back culture, it might come as a surprise to hear that punctuality is very important in Australia . Being on-time to meetings is essential to keeping good relations; arriving late is viewed as wasting the other’s time.

Keeping to the schedule is also seen as good practice.I.e. if the meeting is scheduled for an hour, it should finish in an hour. Australians have fixed schedules and like it that way, which is why you should try to avoid changing it.

In meetings, the tone and conversation can come across as quite casual, however, it is serious business. It’s also important to know that generally, everyone has a voice in meetings. Regardless of age or rank, you’re welcome (and usually encouraged) to give your opinion. 

Australia has a relaxed and friendly culture; therefore business communication between colleagues is typically informal . Social conversation is also commonplace in meetings. When it comes to team bonding, it’s common to have informal get-togethers; whether it’s Friday afternoon (or rather, arvo) drinks, team lunches or birthday celebrations.

It can also get quite chatty in the office. However, don’t get it misconstrued, Australians are hard workers. This social nature goes beyond colleague relations, it is just as important for business relationships. Having a good business relationship is highly regarded in corporate Australia, and can be a deciding factor in collaborating with one another.

4. Office Hierarchy

As an egalitarian society, there is less value placed on hierarchy in Australian workplaces. Everyone is addressed by their first name, and many bosses have open-door policies, and are easily accessible by their subordinates. 

This egalitarian view gives employees a voice in the workplace, which means there is a more relaxed management and communication style in place .

Also, decisions made by managers are typically made in consultation with their team. This stems from the egalitarian concept of ‘mateship’. ‘Mateship’ refers to friendship, loyalty, and equality and is an intrinsic part of Australian culture. 

While ‘mateship’ typically applies to friends, these values usually seep into employee-leader relationships, resulting in a more collaborative and relaxed working style.

Dress is a bit tricky to pin down. It can vary depending on the industry, company and area in which you work. However, smart casual attire is always a safebet. Although casual attire is becoming more commonplace, so don’t be too shocked if you see workers in subtropical Brisbane wearing bermuda shorts and shirts to work. Usually, you’ll be provided with a code of conduct on how to dress for your respective company.

Coffee is serious business in Australia. Australians pride themselves on their good quality coffee, and with a quarter of Australians admitting they can’t live without coffee –  it’s no surprise that 1.3 million cups of coffee are sold daily in Australia! 

Besides being one of Australia’s popular drinks, it’s also a popular business pastime . Forget business lunch meetings; a catch-up or quick meeting over a coffee at a local cafe is more commonplace in Australia. 

Coffee in Australia is viewed as a more social thing, rather than just a means of getting energy. However, it should be noted that just because you meet with someone over a coffee, and have a great chat and time, you may not end up doing business together. This can confuse non-Australians, but it’s just the way it is. 

7. Early Risers

Australia is a morning country. Being a hot region that experiences some of the highest levels of UV radiation in the world, Australians are typically out and about quite early. In fact, you’d be more likely to see Australians going for a jog at 6 to 7 am than you would at 6 to 7pm. With an early culture, our working hours reflect that. 

In Australia, the average start time is 8:30, half an hour earlier than the global average. Some companies even start at 8, and if you’re a tradesperson – 7am! However, that is not to say Australians finish early. In fact, Australians work long hours, ranking fifth in highest number of hours worked for OECD countries .

8. Aussie Speak

Australians are straight shooters, they don’t mince their words. Communication is direct and may to outsiders come across as blunt or rude , but it’s usually not intended to be so. With less emphasis on an office hierarchy, employees freely speak their mind, even to their superiors. Tall Poppy Syndrome lends to their modest nature and self-deprecating humour. 

Colourful language is also part of Australia’s workplace lexicon. However, err on the side of caution, this is never to be assumed and will be indicated to you after a few days working in or with the company. 

Slang is abundant and prevalent in Australian workplace conversation. The friendly, relaxed workstyle means that slang is used at all levels within the office. It can be very difficult as a non-Australian to understand the slang (which is used for pretty much anything), that’s why we’ve listed below some slang you might come across with the Aussies:

‘Pull/Chuck a sickie’ = to take a sick day (although, saying this indicates you aren’t actually sick)

‘Mate’ = Friend / Colleague 

‘Legend’ = For those that help you out

‘Arvo’ = afternoon

‘Choccy’ = chocolate

‘Bickie’ = biscuit

‘Raincheck’ = leave for another day

‘Yeah, nah’= No

‘Nah, yeah’= Yes

‘No worries’ = It’s not a problem

‘Presso’ = Presentation

‘She’ll be right’ = It will be okay

There are many Australian cultural quirks that shape the way business is conducted in Australia. It can, like trying to understand any culture different from your own, be hard to get your head around, initially. 

However, with an open mind and willingness to embrace the Aussie way (especially by learning and using slang), you’ll be welcomed with open arms. 

We hope these tips help you understand the Australian workplace culture and remember, ‘she’ll be right’. 

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How to Choose Your Business Setup in Australia

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Albanese reveals plan for interventionist green industry policy similar to Biden’s Inflation Reduction Act

Prime minister says government needs to be ‘more strategic and more sophisticated’ to compete globally

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Anthony Albanese is signalling a dramatic shift to unapologetically and directly supporting Australian industry and innovation, saying the country needs “sharper elbows when it comes to marking out our national interest” and competing with the rest of the world.

In a speech to be delivered to the Queensland Press Club on Thursday, the prime minister will effectively launch his bid for re-election with a plan for a green interventionist industry policy, promising direct government support to speed up the energy transition, provide certainty for business and stem the flow of money and ideas to countries offering investment incentives.

His speech contains a message to those who may see the move as a new form of protectionism for certain sectors and projects.

“We need to be clear-eyed about the economic realities of this decade, recognising that the game has changed and the role of government needs to evolve,” Albanese says in an advance copy of the speech, seen by Guardian Australia.

“Government needs to be more strategic, more sophisticated and a more constructive contributor. We need sharper elbows when it comes to marking out our national interest.”

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Albanese will emphasise the link between economic security and national security and will say attracting investment has “never been a polite and gentle process where every nation gets a turn”.

Borrowing and bending a phrase his predecessor, Scott Morrison, employed to defend the Coalition government’s slow acquisition of vaccines during the Covid-19 pandemic, Albanese will say of shaping the future economy: “It’s always a contest – a race.”

“Australia can’t afford to sit on the sidelines,” he will say. “Being in the race does not guarantee our success but sitting it out guarantees failure … Australia is in a race, no matter what. Our government wants Australia to be in it to win it.”

The prime minister will argue that Australia needs to be “willing to break with old orthodoxies and pull new levers” to advance that national interest.

He will foreshadow new legislation – to be titled the future made in Australia act – that he says will serve as the framework for the changed approach, with details to come in next month’s federal budget. He will describe this as coordinating a package of new and existing initiatives to “boost investment, create jobs and seize the opportunity” of an Australian-made future.

Albanese does not spell out what those incentives will involve, although possibilities may include concessions, grants, or underwriting of projects.

But he will emphasise that it will underpin the work of the new Net Zero Authority, which aims to facilitate investment in renewable, sustainable energy projects and help retrain workers in fossil fuel industries and guide them into new jobs.

Albanese will cite the US Inflation Reduction Act, which contains half a trillion dollars in green energy incentives, and the Chips Act, which subsidises research and production of semiconductor technology, as key reasons why Australia can no longer continue a level-playing-field approach to industry development and energy transition.

He will cite similar interventionist measures in Europe, Japan, Korea and Canada designed to boost their respective domestic industries.

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“This is not old-fashioned protectionism or isolationism, it is the new competition,” Albanese will say. “These nations are not withdrawing from global trade or walking away from world markets or the rules-based order – and let me be clear, nor should Australia.”

Albanese will insist that Australia will continue to champion global markets and free trade and forge both bilateral and multilateral agreements, but that countries with which it seeks to partner are “moving to the beat of a new economic reality”.

His government will not necessarily replicate these other approaches, he will say. “But we must recognise there is a new and widespread willingness to make economic interventions on the basis of national interest and national sovereignty.”

He will say Australia can no longer be “running on the fumes of past economic reforms”, nor government be merely “an observer or a spectator”.

“We cannot afford another decade where government is a drag on business investment and productivity instead of a driver of it.”

The prime minister will say the new approach will shift the emphasis away from minimising risk towards maximising reward. It will seek to exploit Australia’s advantages and build sovereign capability – an issue that emerged during the pandemic – in a longer-term way, rather than just as a patch-up in a crisis.

“We’re building an economy with more good jobs for fair wages – that’s what I mean by a future made in Australia,” he will say, with an election-style pitch about a “stronger, fairer and more prosperous future”.

“One where we compete for and win the great prize of new prosperity – and win our way, by staying true to the values that make this the greatest country on earth.”

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Australia PM unveils plan to overhaul economy, invest in green energy

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ining superpower Australia on Thursday announced a US-style scheme to pour public money into manufacturing and clean energy industries, joining the global race to build a cleaner and more resilient economy.

Prime Minister Anthony Albanese unveiled the "Future Made in Australia Act" to help compete with global partners who are providing massive subsidies to new industries.

The act, to be discussed by parliament this year, would mark a departure from Australia's decades-old free market policies on trade and investment.

"We need to be willing to break with old orthodoxies and pull new levers to advance the national interest," the centre-left Labor Party prime minister said.

Though no figures are given, the taxpayer-funded incentive scheme aims to compete with other nations' efforts, such as US President Joe Biden's massive investments through the US Inflation Reduction Act. 

Other trading partners, including China, the European Union, Canada and Japan have also heavily invested in their industrial base and manufacturing capabilities. 

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"Australia can't afford to sit on the sidelines. Being in the race does not guarantee our success -- but sitting it out guarantees failure," Albanese said.

Albanese described the climatic and economic changes underway as "every bit as significant as the industrial revolution or the information revolution – and more rapid and wide-ranging than both".

"We have to think differently about what government can -- and must -- do to work alongside the private sector to grow the economy, boost productivity, improve competition and secure our future prosperity."

Albanese delivered the speech in the northeast state of Queensland, a key electoral battleground and the heartland of the country's vast gas and coal industries.

- 'Sharper elbows' -

Australia could not match the United States' investment dollar for dollar, he said, but the country would be able to compete for international investment.

A world-leading exporter of minerals such as iron ore and coal, resource-rich Australia will not just play to its "traditional strengths", he said, but also offer new products and services to new markets.

"We need this change in thinking and approach because the global economic circumstances are changing in ways far more profound than the consequences of the pandemic or conflict alone," Albanese said.

"We need sharper elbows when it comes to marking out our national interest."

The act would boost investment in Australia's renewable energy resources, including battery production, like green hydrogen, green metals, create more jobs and ensure a competitive economy, he said.

Tim Buckley, director of independent public interest think tank Climate Energy Finance, said the act would lay the foundations to make Australia a zero-emissions trade and investment leader and global clean energy "superpower".

About 27 percent of the Australian economic output came from exports to international partners and this new act would have flow-on effects and help them decarbonise as well, Buckley told AFP.

"State intervention is the new competition. We can't afford to 'sit it out'. The Future Made In Australia Act puts Australia into the global race. It is the investment signal and de-risking private capital needs," he said. 

But he said greater details were needed to ensure that local, state and federal governments worked together on ensuring the act was rolled out smoothly.

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Australia Joins Global Subsidy Race With 'Future Made in Australia' Plan

Australia Joins Global Subsidy Race With 'Future Made in Australia' Plan

Australian Prime Minister Anthony Albanese gives an address to the Leaders’ Plenary during the 2024 ASEAN-Australia Special Summit at the Melbourne Convention and Exhibition Centre in Melbourne, Australia, March 6, 2024. JOEL CARRETT/Pool via REUTERS/File Photo

By Lewis Jackson

SYDNEY (Reuters) - Australia will launch subsidies and incentives modelled on similar efforts in the United States and Europe to help the giant commodity exporter bolster domestic manufacturing and promote industries it sees as vital to national security.

The "Future Made in Australia Act" will be unveiled by Prime Minister Anthony Albanese at a speech in Queensland state on Thursday.

While it comes with no price tag, at least A$18 billion ($12 billion) worth of incentives for renewable hydrogen, solar and manufacturing will be subsumed within the new policy rubric and additional announcements are likely in next month's budget.

Albanese will point to government procurement contracts for local business, incentives for investors and regulatory reforms to fast-track infrastructure projects as potential areas of support.

"Our Government will be proactive when it comes to backing Australia’s comparative advantages and delivering on our national interests," Albanese will say.

"Only Government has the resources to do that, only Government can draw together the threads from across the economy and around our nation."

In the race to roll out clean energy and compete with China in manufacturing electric vehicles and semiconductors, seen as vital for economic prosperity and national security, governments in rich nations are spending billions on subsidies.

The biggest example is in the United States, with the Biden Administration's $430 billion Inflation Reduction Act. The European Union has followed suit along with Japan and Korea.

Australia in turn needs to embrace a bigger role for government as an investor and market participant, Albanese will say.

"We must recognise there is a new and widespread willingness to make economic interventions on the basis of national interest and national sovereignty," he will say.

Australia would be able to compete thanks to its abundant natural resources, proximity to Asia, highly educated workforce and democratic society.

Albanese will stress that the turn to government intervention is not a return to the protectionism or isolationism of old but instead a new form of competition.

($1 = 1.5352 Australian dollars)

(Reporting by Lewis Jackson; Editing by Sonali Paul)

Copyright 2024 Thomson Reuters .

Tags: European Union , international trade , Australia

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Public funds to incentivise manufacturing and clean energy projects, Prime Minister Anthony Albanese says

Live Moment Public funds to incentivise manufacturing and clean energy projects, Prime Minister Anthony Albanese says

Prime Minister Anthony Albanese says Australia must stay in the "global race" for jobs, as he prepares to detail a taxpayer-funded incentive scheme for advanced manufacturing and clean energy projects.

The "Future Made in Australia Act" will seek to compete with US President Joe Biden's massive spending plans under the US Inflation Reduction Act.

Mr Albanese said it would consolidate existing efforts under one banner, including Hydrogen Headstart, Solar Sunshot and the government's $15 billion National Reconstruction Fund.

"We know during the pandemic, we learnt the risks of what happens if we're cut off from trade. We can't afford to not be able to stand on our own two feet," Mr Albanese told Channel Seven.

"And we saw manufacturing leave this country in the 70s and 80s. We want to bring it back."

The prime minister will make the case for the Future Made in Australia Act in a major speech on Thursday, setting out his agenda for the next year leading up to an election.

He will warn Australia's economy will suffer without greater government intervention, as other nations draw "an explicit link between economic security and national security".

Mr Biden's landmark Inflation Reduction Act includes hundreds of billions of dollars in tax breaks and subsidies over the next decade, aimed at boosting clean energy infrastructure and encouraging high-tech manufacturing.

"Obviously, Australia cannot go dollar for dollar with the United States' Inflation Reduction Act," speech notes provided by the prime minister's office state.

"But this is not an auction – it's a competition.

"And Australian can absolutely compete for international investment when it comes to our capacity to produce outcomes, the quality of our policies and the power of our incentives."

The federal government has been urged to do more to entice investment in renewable energy and critical industries, amid warnings the US could hoover up available international capital under its own plans.

The prime minister has frequently referred to his desire to see Australia step up in areas such as battery and solar panel manufacturing, harnessing the materials mined in Australia but currently exported overseas for processing.

Mr Albanese will reference efforts from the US, European Union, Japan, South Korea and Canada to strengthen their own critical industries.

"All these countries are investing in their industrial base, their manufacturing capability and their economic sovereignty," the prime minister is expected to say.

"This is not old-fashioned protectionism or isolationism – it is the new competition.

"These nations are not withdrawing from global trade or walking away from world markets or the rules-based order, and let me be clear, nor should Australia."

Live Moment

Look back at how ABC readers and other Australians responded to this live moment.

That concludes the PM's address

Thanks for joining us for the live moment.

We'll leave our live coverage here.

How will the new act impact the economy?

The PM has been asked:

How do you expect the plan you unveiled today to impact the economy at a time when inflation is approaching the RBA's target range?

Here's what Mr Albanese says:

"It is about encouraging private sector investment, it is about making sure as well that all of the measures that we have put in place, including all of our cost of living measures, have been aimed at areas that would not contribute to inflation."

The risk of increasing power prices

The PM has been asked whether there is a risk an energy transition would be costly and cause power prices to increase.

"That is what is driving the change," Albanese says. "In terms of where that new investment will go. So we want to create an environment whereby we provide support but we acknowledge the importance of market mechanisms and what that means is investment in renewables will lead to cheaper power because that is what every economist tells us."

Wondering what this is? Join us next time we're live and be part of the discussion.

Not the invisible hand, nor heavy-handed either, PM argues

In a pre-emptive strike against critics who would argue against taxpayer funds being spent, Mr Albanese will make the argument that Australia's partners are "moving to the beat of a new economic reality."

"None of this is merely being left to market forces or trusted to the invisible hand," he is expected to say.

"The heavy lifting of economic transition and industrial transformation is not being done by individuals, companies or communities on their own.

"It is being facilitated, enabled and empowered by national governments from every point on the political spectrum.

"Because this is not about ideology, it's about opportunity – and urgency."

The Future Made in Australia Act would focus on boosting investment in areas such as rare earths mining and processing, hydrogen and solar energy production.

"We recognise that for Australians to share fully in the rewards, government needs to be prepared to use its size and strength and strategic capacity to absorb some of the risk," the speech notes state.

"Only government has the resources to do that, only government can draw together the threads from across the economy and around our nation."

Casting forward to budget

Ahead of the federal budget on May 14, the prime minister will argue the policy complements other measures, such as revised income tax cuts, to improve productivity across the country.

"The first four years of this decade have tested the resilience of our economy and our society alike," he is expected to say.

"Alongside the devastation of floods and bushfires, Australia has endured a once-in-a-century global pandemic and the biggest international energy crisis in 50 years.

"Government needs to have this same capacity to respond and adapt, to anticipate change – and shape it – when it comes to building for the future."

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• Wear sunscreen when you're viewing the total solar eclipse on Monday.

If you're watching the total solar eclipse on Monday , be sure to wear sunscreen.

Hopefully you already have a plan to keep your eyes safe from the sun — like wearing ISO-certified solar eclipse glasses . But you also need to think about your skin during the hour or two you spend watching the moon creep in front of the sun.

"The levels of damaging ultraviolet (UV) light will only be low during the brief, total solar eclipse occurring within the narrow path of totality, in which the sun is completely blocked by the moon," Christin Burd, a professor of molecular genetics at The Ohio State University who studies melanoma and aging, told Business Insider in an email ahead of the last US total solar eclipse , in 2017.

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Even if you're hoping to catch a peek at the eclipse between clouds, sunscreen is still essential. That's because UV light, which we can't see, still penetrates clouds.

That safe window of totality only lasts four minutes at most. After that, "the unblocked UV rays will be intense and could easily result in sunburn ," Burn said.

Those who are just popping out for a few minutes to see a partial eclipse, which varies in timing and size across the country, might get away without lathering up sunblock .

Here are some other things you should bring if you're going to see the total solar eclipse, according to Mark Littman and Fred Espenek, authors of " Totality: The Great American Eclipses of 2017 and 2024 ."

A pinhole camera .

A colander or straw hat, which can project the eclipse through holes onto paper or cardboard.

Snacks — it will be late afternoon, after all

Binoculars — for pointing at paper

Sunglasses (not for looking at the eclipse)

Solar eclipse glasses and solar filters — for looking at the eclipse

Camera equipment to take photos of the eclipse

A notebook to write down observations.

Lydia Ramsey Pflanzer contributed to an earlier version of this post .

Watch: A small Australian town was treated to a rare hybrid solar eclipse

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