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Business planning

Find out how to create a plan for your new or current business, including writing the plan and operational documents, and setting goals.

Start your planning by:

• watching the writing a business plan video
• downloading the business plan template
• watching our small business planning webinar recording .

Planning a new business?

Find out how to plan your new business idea —use our guides, checklists and tips to help you develop your idea and sharpen the personal skills you'll need to be a business owner.

Writing a business plan

Discover what a business plan is and how you can prepare or update one for your business. Download our free business plan template.

Create a business vision

Find out how to create a vision for your business, describing your goals and what success looks like. Use our template to create your own.

Business values

Learn about developing values for your business. Follow our 5-step process to develop and implement your own values.

SWOT analysis

Get an overview of the SWOT analysis business tool, including what it involves, the benefits of using one, and how to conduct one for your business.

Short and long-term goals and KPIs

Learn about setting business goals and tracking them through KPIs. You should set short and long-term goals and review your goals and KPIs regularly.

Business policies, processes, procedures and codes of practice

Discover the value of creating and applying operational documents for your business. Codes of practice explain your legal and industry obligations.

Choosing and working with business advisers

Learn what to consider before choosing a professional to help you achieve your business goals.

Tools and resources

Find out more about the value of a business plan and create one for your business.

Video - Writing a business plan

Watch our video to help you write a business plan.

Download the business plan template

Use our template to create a plan for your new or existing business, or as a guide for making your own.

Download the SWOT analysis template

Use the SWOT analysis template to understand your business’s strengths, weaknesses, opportunities and threats.

• Updated: 1 Jun 2023
• Reviewed: 8 Dec 2022

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business.gov.au

business.gov.au is a whole-of-government website for the Australian business community. It provides information, grants, services and support from 3 levels of government to make it easier for business owners to find everything in one place.

The business.gov.au 13 28 46  contact centre  connects businesses to important information and services through phone, email and webchat. The contact centre supports over 60 programs and is a point for referrals to our business advisory networks.

• We are a trusted whole-of-government business resources. We connect consolidate and streamline information for business across all levels of government.
• We deliver free practical tools to help Australian businesses plan, start and grow a business.
• Our discovery tools help businesses find  grants and programs , advisers , and  events and training .
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• We write our content in plain English and test against the needs of real users to find out what works and what doesn’t. We continuously make changes to the site based on user feedback.

business.gov.au benefits

Website, news and social media.

• Use our whole-of-government website to provide information and updates about your agency's information, services and programs. We consolidate and streamline information for business across all levels of government.
• Leverage our high-traffic web and social media platforms to increase your reach to business.
• Communicate to business and speak their language. We create communication strategies that translate government policy intent into practical terms for business.
• Build on our reputation as a trusted source of information for business. We maintain our trust and integrity by ensuring our content is up-to-date and accurate, and includes links to credible online information and resources.

Contact centre

• Multi-channel services (phone, email and webchat) makes it easy for your customers to access the information and services they want, when and how they want it.
• Open Monday to Friday, 8am to 8pm nationally. Closed on Australian national public holidays.
• We answer 90 per cent of phone calls and webchats within 10 seconds.
• We respond to emails within 1 business day.
• Our specialist agents are trained in business management with between 5 to 10 years’ experience in small business operation. We train our agents to provide advice and assistance tailored to the needs of your customers.
• Our generalist agents provide information and referrals relating to programs and services.
• Our shared contact centre services can significantly reduce costs associated with operating traditional in-house solutions.
• We connect with other Australian Government programs and direct links to face-to-face advisory services.
• We emphasise service excellence at every touch point. We use feedback loops to identify service pain points to drive continuous quality improvement.

Business capability

We will work with you to promote your content through our high-traffic platforms. Annually,  

• business.gov.au has more than 9 million sessions
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• the contact centre handled around 86,000 contacts.

Our specialist team manage our web presence. They have expertise in researching, authoring and maintaining online content relevant to the Australian business community. Our social media experts are adept at promoting content through a range of digital platforms.

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We help federal, state, territory and local government agencies to:

• write and publish information about your agency and programs on the business.gov.au website and social media channels
• provide access to our contact centre service including strategic planning, scripts, training for the agents and data.

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Starting a business

Things to consider before starting your business and the steps you need to take to get your business up and running.

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Develop your business plan, choose a business structure, registering your business, setting up business tax, find business premises, start or grow a business in nsw.

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Marketing and the 2024 Olympics: know the rules

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Have you heard about the Australian Government’s National Reconstruction Fund? Learn what it is and how you can seek finance in one of 7 priority areas of the Australian economy.

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How to write a business plan in 12 steps (2024 edition)

Updated 18 April 2024 • 12 min read

This guide breaks down how to write a business plan, step-by-step, detailing what your document needs to include and what you need to think about to make your business plan as persuasive as possible.

What is a business plan?

A business plan is an essential document that can provide immense value for new and existing companies of all sizes. It is an overview that includes an outline of your business, its key objectives and plan for achieving important goals.

This information can be used to communicate strategic actions to internal teams and also attract interest from potential partners and investors . However, writing a business plan can be a lengthy and involved process. For many, using a business plan template can be a good way to get started.

For best results, you’ll need to do a lot of thinking and planning before you start writing your business plan. This way you have all the information and resources you need at your fingertips and won’t be under time pressure to come up with something at the last minute. After all, a well-thought-out business plan can help you avoid generic information and set your company up for success.

Download your free business plan template .

Why write a business plan?

Writing your business plan helps to get your strategy nailed down and onto the page. A plan that stays in your head is probably going to be full of unrealistic assumptions and biases, whereas a strategically thought-out and organised approach forces you to notice your blind spots and find a way forward.

If you’re looking for financing, a bank or investor needs to be persuaded by your business proposal and the opportunity to work with you. Therefore, a well-written business plan can help provide potential financial partners with the confidence that your business can become profitable. Your business plan gives them a comprehensive view of all aspects of your business and details your strategy for achieving your goals.

What are the main sections of a business plan?

Whatever your line of work, your business plan will generally need to provide the following:

An executive summary

A business overview

The market opportunity

Your products/services

How to write a business plan

Make sure you cover each of the following steps when preparing your document:

1. Write an executive summary

This section of your business plan should be 1–2 pages in length and enables potential financiers or partners to get an overview of what your business does and – most importantly — what the opportunity is for them. If they’re interested in the opportunity, they’ll conduct their own due diligence - and this will start with going through your business plan and financials.

It’s a good idea to write your executive summary last, when you’ve clarified your thinking around every section of the document. As an overview section, you don’t want to add any new content that isn’t in your business plan. Aim to keep this summary succinct and engaging by using simple, plain language, as this is much more persuasive than complicated or academic wording.

Use sub-headings and bullet points to help your most important information stand out, especially as busy executives may simply scan your executive summary and use this to decide whether they want to find out more.

What to include in an executive summary?

Make sure you include details on:

What your business does

What the opportunity is

What your unique selling points / differentiators are

How much funding you’re looking for

What the funding will be used for

How you'll succeed

Remember, you’re providing the big picture overview of your business - the detail is in the rest of the document and in the appendices.

2. Write your business overview

This section of your business plan needs to be more than just a list of what your business does. Its purpose is to excite those you’re hoping will work with you or help to fund your business.

Information to address includes:

What's the purpose of your business?

What problem does your business’ product or service solve?

What niche could it fill?

What’s different about your offering?

How are you better than anyone else at what you do?

Consider what your customer value proposition is by deciding what you want to achieve and what your number 1 benefit is for your customer.

3. Identify your USP

Think about what your unique selling points (USP) or differentiators are, and what proof-points you can provide to back them up.

For example, you can use terms like “market-leading” but if you don’t provide any evidence to back up your claims, your reader will take them with a big pinch of salt!

You should certainly reference any awards or endorsements that position you as the best person to provide your product or service, as well as any client testimonials. Make sure you include any education or experience that makes you an expert in your field as well.

4. Describe the market opportunity

Show you understand your industry, market and where you fit in it. While no-one can predict the future, offer up where you think the opportunity is for your business and make sales projections based on that. 

For example, imagine your business is selling personalised cookies - there's little competition in your area and you see your market opportunity to create designs for all calendar and holiday events. You expect to increase sales by 30% in one year and 50% in three years, driven primarily by word-of-mouth referrals.

Make sure you also consider macro trends that may create opportunities for you, such as social, environmental, or technological changes that may affect buying behaviour.

5. Include a SWOT analysis

Whatever your business strengths or opportunities, they’ll always be known and unknown weaknesses and threats; there’s no such thing as certainty in business or in life!

However, you can demonstrate that you’ve examined your business through different lenses and have a thorough understanding of it by doing a SWOT (strengths, weaknesses, opportunities, threats) analysis.

Don’t worry about drawing attention to your business’ shortcomings - every opportunity has them and it’ll give investors and partners confidence in you that you won't bury your head in the sand. Naturally, it's important that you specify what you’re going to do to address these weaknesses and counter these threats.

Here are some areas you can think about to get started: reputation, technology, location, experience, staff, overheads, competition, suppliers and price.

6. Present a competitor analysis

Let’s face it, no matter what industry you’re in, or what you’re selling, there’s going to be other businesses offering the same thing. But instead of worrying about the competition, use this as a positive opportunity to up your game and work out the unique advantages you have that will keep you competitive.

Identify your top 3 competitors and analyse what they're doing well and where they’re coming up short. Try to be as objective as possible and identify how to differentiate yourself from them.

You should also look into who the industry leaders are and what the benchmarks are for your industry so that you can set yourself targets for continuous improvement.

7. Create a customer persona

A customer persona is a fictional person who represents your company's ideal customer. Naturally, the persona can be based on a real person - the more you get to know your ideal customer, the more targeted and successful your marketing efforts will be.

To create a customer persona, you need to conduct research into your ideal customer’s age, sex, income, employment, daily activities, interests and hobbies. If you’re feeling unsure about your customer persona, you may need to give your ideal customer further thought and download the customer persona template to get started.

8. Write your marketing strategy

When you’ve created your customer persona, you need to work out how you’re going to reach them. Do they hang out on social media apps, like Facebook, Instagram, Pinterest, Twitter or LinkedIn? Or are they more used to local, traditional marketing like free local papers or high foot traffic areas?

Once you’ve figured where your audience is likely to hang out, you can outline your strategies for promoting and advertising your products or services in the next 12 months.

Make a list of the marketing channels you’ll use to achieve your advertising strategy and be sure to include your budget. How much can you set aside for advertising? And where are you most likely to see a return on your efforts? Paid ads on Facebook? Half or full paid spreads in an industry magazine? Or even a direct mail out? 

For more structured help around this, check out free course: Business 101 | Get social with your business on Facebook . 

9. Design your customer retention strategy

Business success relies heavily on the relationship you’re able to build with your customers. What techniques will you use to keep them coming back? Consider the following:

What can your business do to increase the number of repeat customers? 

Does your business have a referral or loyalty program? 

Do you have a post-purchase follow up in place?

Will you use surveys to track customer satisfaction?

What ways can you continue delivering outstanding service?

Is there a way to continue educating and adding value to your customers?

10. Present your financials

Most people who are looking at investing their time and/or money in your business will want to see your financial statements - your performance to date and your projections over the short and medium term. They'll also want to know how much you’ve received in funding to date and what these other sources of funding are - including your own investment.

Current finances

You need to show how your business has performed financially over the last year, highlighting metrics such as positive cashflow , net profit and assets.

Financial forecasts

You should also provide a balance forecast projecting total assets, total liabilities and net assets over 1, 2 and 3 years, and a profit and loss forecast for the same periods detailing gross profit /net sales, total expenses and net profit/loss. Finally, you should also provide a cash flow forecast month by month over the next year.

It’s also a good idea to speak to an expert like an accountant or bookkeeper about your finances and get advice on how best to present them in this all-important section of your business plan.

11. Detail how much funding is needed

Naturally, you also need to be very clear about how much money you’re looking for and what you plan to do with it. If you’re looking for a loan , you need to detail what it’s for, over what period it’ll be repaid, and what collateral you have to secure it.

12. Propose an exit strategy

Any financial stakeholder in your business will want a return on investment. If you’re pursuing this type of funding, you should include some detail on your proposed exit strategy . For example, do you want to sell the company at some point or go public?

Similarly, you should outline your succession plan so the business can continue to operate if you decide to step away from it. Likewise, you need a plan for what happens if the business loses money and can’t sustain itself. Documenting this means that everyone is on the same page and potential investors have this information upfront.

Frequently asked questions about writing a business plan:

When to write a business plan.

Typically, entrepreneurs write their business plans within the first year of operations. A business plan is a tool that helps business owners refine their strategy, attract partners and financiers, and grow their business.

If a business plan is written too soon, it may lack the substance that comes with time in the market. However, it’s important to note that a business plan isn't a static document - it can and should change as the business evolves.

How long should your business plan be?

There are no hard and fast rules around how long your business plan should be - it just needs to include all the relevant information. Aim for clear, concise sections and build a business plan that is as easy to read and navigate as possible.

Using a business plan template can help you make sure you have everything covered off, while also having a document that looks as professional as possible. Make sure you run a spelling and grammar check too - any sloppy errors can undermine your credibility.

What’s a business plan on a page?

It’s important to write your business plan as it helps to embed your strategy - as well as communicate what you’re about to potential partners or investors. When you have a comprehensive business plan you can easily adapt it to suit different audiences. For example, a full business plan is essential for raising capital but a business plan on a page may be enough for potential partners or employees.

What do venture capitalists look for in a business plan?

Venture capitalists invest money into businesses with the goal of achieving a return on their investment within the short to medium term. As a result, they’re looking for an attractive market opportunity, a clear point of differentiation, a strong management team, a proven track record, solid financials and, importantly, an exit opportunity.

Where to go for help or more information?

There are many great resources out there to help you fine-tune your business strategy and write your business plan. The Australian Government has a comprehensive website dedicated to supporting businesses at all stages of their journey.

You can also get help from Business Enterprise Centres , business advisors, accountants and fellow business owners. MYOB also has a list of business advisors who can give you feedback on your business plan, so your venture has the very best chance of success. 

Related Guides

How to get a business loan arrow right, how to find investors: a guide for startups arrow right, business models: definitions, types and key components arrow right.

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Write a business plan

Write down your ideas.

A business plan explains your business's goals and outlines how they will be achieved.

If you're applying for a grant or finance, you must have a business plan as part of the application.

When to do a plan

You should write a business plan before you start operating.

It can be tricky to do if you're still in the planning stages. But you can amend your plan as your business grows and changes.

Review your plan regularly and update it as needed.

Even existing businesses may benefit from putting a business plan together.

What to include

In general, a plan would usually include:

• an executive summary
• description of your business
• information about your business structure
• market research
• marketing and sales strategy
• financial plan - such as your  start-up costs and funding , expected cash flow and sales plan
• staffing requirements, including how you will attract, select and recruit workers .

Get a business plan template from the Australian Government's Business website .

For assistance putting together your plan, talk to:

• small business champions
• a business coach or consultant (fees may apply)
• government funded services like the Business Enterprise Centre NT .

Existing businesses may be eligible for the Business Growth Program . This program provides funding for existing businesses to work with business consultants.

Contact a Territory Business Centre to find out what help you might be eligible for.

On this page

Research your business idea.

Look into your idea before deciding to make it a business.

Create a sales plan

Set realistic sales goals.

Contact a Territory Business Centre

Territory Business Centres can give you information about starting a business, licensing requirements and government assistance programs.

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International travel documents for children

See what documents a child needs to travel to or from the U.S. alone or with a parent or relative.

Children traveling to the U.S.

All children, including infants, must have their own travel documents such as a passport or document from a Trusted Traveler Program to enter the U.S. If you travel or are going to travel with a child, consider taking the following documents:

• If the child is traveling with only one of their custodial parents, they must have a letter of consent, preferably in English and notarized, from the other parent or signed by both parents. The letter should say "I acknowledge that my son/daughter is traveling outside the country with [the name of the adult] with my permission."
• If one parent has sole custody of the child, a copy of the custody document can take the place of the other parent's letter.
• Parents who frequently cross the border by land with a minor must always carry a letter of permission from the other parent.

U.S. citizen children traveling abroad

Ports of entry in many countries have security measures to prevent international child abduction . If you are traveling alone with your child, you may be required to present documentation proving you are the parent or legal guardian. You may also need a letter of permission from the other parent for your child to travel. 

If your child travels alone, depending on the country, they may be required to present a notarized letter from both parents or their legal guardian. If a minor is traveling abroad and is not accompanied by both parents or a legal guardian, contact the embassy or consulate of the country you will be visiting and ask about entry and exit requirements for that country.

LAST UPDATED: December 6, 2023

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WA Liberals plan to slash backlog in environmental approvals process, but will it get them back in the election hunt?

Holding just three lower house seats in the WA parliament after their virtual wipe-out at the 2021 election, the WA Liberals are well aware they face an uphill battle to regain relevance before voters return to the polls next March.

So, with just nine months up their sleeves, the Liberals have announced one of their first major pre-election policies — and it targets what they say is an unacceptably large backlog in the state's environmental approvals process.

And not surprisingly they are laying the blame for delays squarely at the feet of Roger Cook's Labor government.

So, what is the party's plan of attack and will it resonate with voters and the business sector?

WA Liberal leader Libby Mettam believes the government is missing opportunities.

"Labor is killing jobs and killing productivity with their burdensome green tape," she said.

"To see and unlock the opportunities for a critical minerals boom, that can't happen with a government that have their hands in their pockets."

What do the Liberals have in mind?

The party released a nine-point plan to streamline the state's environmental approvals process.

It includes:

• Amendments to the Environmental Protection Act.
• Allowing parallel approvals to reduce delays.
• Moves aimed at speeding up decisions on appeals "not considered as significant and strategic".
• Cutting down on challenges from "vexatious appeals".

Activists out 'to game the system'

The party's announcement was delivered with a particular focus on some activist groups that it claims are stifling the process.

"These groups are simply out to game the system, we will not be allowing that to occur," the Liberals' environment spokesman Neil Thomson said.

Are many projects tied up in green tape?

WA's Environmental Protection Authority is the body set up independently from the government and its department, to complete a detailed assessment and provide recommendations before the minister for environment decides if a project can proceed.

In a statement to the ABC, its deputy chair Lee McIntosh said 23 proposals had been with the EPA for longer than four years — but 13 were waiting for information from the proponent to continue — while four were on hold at the proponent's request and one was set to be finalised this month.

The remaining five were all being assessed at the level of public environmental review, because of their complexity, and multiple potential effects on the environment.

They vary from oil and gas projects to traditional mining and infrastructure.

Policy attacks 'fundamental rights'

The state's leading environmental protection group has taken major exception to the party's moves to reduce the scope for appeals.

The president of the Conservation Council of WA, Richard Yin, described it as a major attack on the community's fundamental right to have its say.

"The right to appeal is part of a democratic process that is for all people, all communities, and those include those that are interested in the protection of the environment," he said.

"We need to actually be upholding democratic processes, not weakening those processes.

"The thing that I feel confident about is the community's actually on our side. The community is seeing what's happening to the environment."

What about the business and resources community?

WA's business lobby, the Chamber of Commerce and Industry (CCI), was always likely to welcome any moves from either side of the political divide to streamline environmental approvals.

But whether it proves a major winner in the business community is a different question.

In contrast to the Liberals' claims of Labor's failings on environmental approval, the CCI has praised the intent of both traditional major parties.

"We're quite pleased with the progress that's been made under the state government," CCI chief economist Aaron Morey said.

"What is important is that there's that high level, broad, bipartisan commitment to getting a better balance in our state approvals regime."

What's the government's response?

The policy announcement was met with ridicule from Premier Roger Cook, who claimed the Liberals were simply copying the path the government was already going down.

"Imitation is the most sincere form of flattery, and that's what we're seeing from the Liberals," he said.

"To suggest that these projects are being held back unnecessarily is simply incorrect."

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