Business planning
Creating a business plan is one of the most valuable steps you can take when starting or running a business. It helps you to stay organised, set clear goals and make informed decisions.
Why business planning matters
Many people assume that business plans are only needed when launching a new venture or applying for a loan.
When you are first starting out, a business plan can help you test your idea.
It forces you to think critically about who your customers are, what problems you're solving, how you'll make money and what resources you'll need.
Business planning is also a useful day-to-day tool for running and growing a business.
A well-prepared plan can help you:
- stay focused on your vision
- set short-term and long-term goals
- inform your marketing and sales strategies
- monitor your progress
- make strategic business decisions
- identify challenges and manage risk.
Your business plan should evolve with your business. Once it’s ready, set a reminder to review it every year.
This gives you an opportunity to update it as you maintain or grow your business. It also helps ensure that it still supports your goals and reflects current market activity.
What to include in your business plan
A good business plan doesn’t need to be long or complicated. It should be practical, clear and easy to understand.
A typical plan includes:
- a summary of your business and what it offers
- your short-term and long-term goals
- market research and customer insights
- details on your products or services
- marketing and sales strategies
- financial forecasts and budgeting
- information about your team or business structure.
Documenting these elements helps you test your business idea in a real-world context before you invest significant time or money on it.
Get started with templates and tools
There’s no need to start from scratch. We have a range of templates and tools to help you get started.
The Australian Government’s Business Planning Guide and Templates provides step-by-step instructions, tools, and examples that make planning easier.
Access the full planning guide and templates
Tools and templates
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Develop an emergency management plan
Learn how to prepare a plan to protect your business before, during and after an emergency. -
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Develop your sustainability action plan
Use our template to help your business take practical steps toward being sustainable. -
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Protect your brand, idea or creation
Understand the different types of intellectual property (IP) protection and how they can help your business.
Get support from a business advisor
You don’t have to do it alone.
If you are thinking of starting a business, or have held an Australian Business Number (ABN) for less than 12 months, you can access up to two hours of free business advice through the New Business Support Service.
If you have held an ABN for at least 12 months, you can access up to five hours of free business advice each financial year through the Tasmanian Business Advice Service.
Through these services you can connect with experienced advisors who can help you develop or refine your plan and provide feedback specific to your goals and circumstances.