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Business Blog

So...you want to start a new business?


Person planning a new business
Person planning a new business


For those thinking about starting a new business or wanting to improve your existing business plan, the business plan tool from business.gov.au is an easy way to evaluate your business idea and set goals for the year ahead. It asks a series of questions about your business and generates a custom plan for you.


Objective: A business plan aims to establish a framework and guide for setting up the management tools and requirements to run a successful business and helps you adapt as the business grows.


Evaluating a New Business Idea: Whether you’re in the early stages of conceptualising a business or exploring a new venture, the template guides you through assessing the feasibility of your ideas. It prompts you to conduct market research, analyse competitors, and define a strategic approach to ensure your business idea is viable.


Setting Goals for the Year Ahead: For those already in business, the template assists in charting a course for the future. By setting specific and measurable goals, you can outline achievable milestones for the upcoming year. This proactive approach ensures a clear direction and helps measure progress over time.


Keeping Your New Business on Track: The template acts as a roadmap for your business journey. It helps establish key performance indicators, enabling you to regularly monitor your business’s performance. Providing a structured framework keeps you on track, aiding in decision-making and adapting strategies as needed to navigate challenges effectively.


Seek Advice from a Professional

Before finalising your business plans, it’s crucial to consult with professionals such as Bookkeepers, Accountants, or experienced business mentors. These experts possess the knowledge and insights to guide you in starting a business and can identify potential gaps in your strategy. Seeking their input ensures a thorough examination of your financial projections, helps validate your ideas, and provides valuable feedback to strengthen your overall business approach.


Guides To Help Your New Business

Use these guides from business.gov.au to help you plan, start and run your business. You’ll find resources, tools and where to go for more help.




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