The benefits of a business plan

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Last updated on March 4, 2016

A well written business plan will help you clarify how you will achieve business success and give others confidence in your business.

A business plan is a document that describes your business, the market it operates in, its objectives and the strategies you have in place to achieve these objectives.

A written business plan:

  • forces you to think realistically, objectively and unemotionally about your business
  • leads to questioning of past and future assumptions
  • makes it easier to communicate planning objectives and strategies to bankers, partners, employees, financial backers and so on
  • helps to ensure that all aspects of the plan are clear and integrated
  • serves as a reference point when determining the effects of alternative courses of action on business operations
  • allows you to identify any areas where you may need external assistance
  • allows you to plan the growth of your business and associated capital requirements.

The Business Planning Guide and Template step you through the process of developing a business plan. You can tailor the plan to meet your own business needs. Both the guide and template are from

Download the template and guide from here.

The Australian Government has developed a business plan app to help you get started. It guides you through the process of creating a solid and well-structured business plan. The MyBizPlan app is available for both AndroidTM and iPad.

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