Business planning

Effective business planning can be the key to your success. A business plan can help you secure finance, prioritise your efforts and evaluate opportunities.

It may initially seem like a lot of work; however a well prepared business plan can save you time and money in the long run.

What should a business plan include?

There are no rules about what your plan should cover or the level of detail. In general, plans need to include information regarding:

  • business profile
  • vision, mission and goals
  • market research
  • operational strategy
  • products and/or services
  • marketing plan
  • financial strategy.

Before starting your business plan

You may want to consider the following key questions to help determine if you are ready to start writing your business plan.

  • Have you thoroughly refined your business idea so you have a good understanding of how your business will operate?
  • Have you researched your business concept to determine if there is a need for it in the marketplace?
  • Have you completed a feasibility study to determine expected level of success?
  • Do you have the money required to start and grow the business?
  • Are you prepared to invest significant time into the business to get it up and running?

How often should I review my business plan?

Business planning is an ongoing activity. Review plans regularly and update whenever your circumstances change.

Writing a business plan

You can download our business plan template and guide to writing a business plan to assist you to complete your plan.

More information