Starting a Business
6. Business Plan
Authors: Staff Legal Eagle
Firm / Chambers:
Last updated: 24 Sep 2015
- Preparing a well developed business plan that takes account of all the legal, economic (including projected cash flow), marketing and other requirements of your proposed business is advisable.
- The plan should include what you consider to be the worst case scenarios and what steps you might take if any of those situations develop.
- If possible try and speak to others in the industry who have already done what you want to do. Ask them for tips and the pitfalls to watch out for. Many business owners are surprisingly willing to share their expertise if your business is not a direct competitor to their own business.
- Many businesses fail in their first year. Good planning reduces the risk of that happening.
- You can download business plan templates at this Australian Government site: http://www.business.gov.au/business-topics/templates-and-downloads/Pages/default.aspx
View more Information on Business & Company