Small Business

Save
Print

Top 10 tips for business planning

Thursday 28 March 2013

The Small Business Support Line has put together their tips for business planning success.
Here are their top 10:
  • Is this a great idea?Research as many aspects of your business as you can before you start it - for example; is there a market for your product/service? Who are your competitors? Do you have the financial capacity to start a business?
  • Have 20/20 vision - your vision statement, included in your business plan, should be a solid basis for all your business activities
  • What's in a name? A good business name not only identifies you to your customers, but has the potential to make you stand out from your competitors
  • Licence and registration please - don't get caught out by not having the right licences and permits for your business activities
  • Own your product rights - do you have a great business name? Or perhaps a unique design or patent? Protect your intellectual property (IP) rights by registering for the right IP
  • Assurance by insurance - businesses deal with risk on a daily basis. Insurance is vital to guard you against events that may not be within your control
  • Advertising on the cheap - there are many ways to market your business, regardless of your financial budget. Ensure that your advertising efforts are rewarded by doing research on your market
  • Tax tips for small business - new to business and tax? The Australian Taxation Office External link (ATO) has a guide to help educate you on your taxation obligations
  • Social media is the new black - with the rise of technology in the workplace, having an online presence is becoming more and more important. The Digital Business External link website has information on creating a social media profile for your business
  • Seek help when you need it - running a small business can sometimes make you feel isolated. Find your nearest advisor using the Advisor Finder tool.
Plan for your success. Download our free business planning tablet app, MyBizPlan, available for Android? and iPad.
Use our Business plan template and guides to help you create your business plan.
Need to go back to basics? Our Starting a business How-to guide has you covered.
Apple, the Apple logo, iPad, iPhone, and iPod touch are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android and Google Play are trademarks of Google Inc.

Connect with business.gov.au...

  • Join business.gov.au on Facebook External link to get the latest business news delivered straight to your news feed.
  • On Twitter? Follow us External link @business_gov_au.
  • Watch our suite of useful business videos on our business.gov.au YouTube External link channel.
  • Get the latest in business news emailed to your inbox by signing up to business.gov.au's free email updates.
  • Visit our News and Features page to stay up to date with the latest business news this month.
  • Plan for your success. Download our free Business planning tablet apps to start developing your business, marketing or emergency management plan now.