Creating a solid foundation for your business may be the key to your success. It is important to consider more than just your goods or services when running a business.
Running a business is more than just providing your goods or services. Finance management, marketing, employee management, conducting business overseas including import and export management, licences and legal requirements amongst other things, play a part.
A solid business plan pulls these parts together, providing you with the foundation and structure that can guide you through the management and operations of your business. Business plans also act as a blueprint for you and your employees to keep track of and meet your business goals. If you are seeking finance for your business, it is usual for financial institutions to request your business plan, as it provides insight into the likelihood that the loan will be repaid.
Below are items to consider when running your business and to include in your business plan.
Successful businesses recognise innovation can be critical to increased productivity, performance and profits.
Your people can be your best assets in building and promoting your business, so it’s important to know how to recruit and look after them.
Marketing helps you reach your target audience, boost your customer base, and ultimately increase your bottom line.
Your sales plan sets out realistic targets and activities to generate revenue and ensure your business remains profitable.
Doing business overseas
Importing and exporting your goods or services can provide opportunities for your business to grow or sustain itself.
Prepare for and manage risks that may affect your business to reduce or remove their impact.
Good accounting systems help you organise and keep track of your business activity.
If you’re running a business, you need to be aware of your legal obligations.
Intellectual property refers to creations of the mind or intellect that can be legally owned. It is a productive new idea that you create.
As a new business operator, you chose a business structure to suit your business, lifestyle, and objectives. But you’re not locked into one business structure for life.
Whether you’re a new business operator or have been running a business for some time, there will be financial and legal matters that you must consider.
Ensuring you're registered for the correct taxes is essential to running your business.
Where you locate your business will depend largely on your stage of operation, type of activity, legal requirements, available finances, and where your customers are.
Energy costs are a significant factor in every business’ running costs.
As a business operator you have almost countless forms of technology available to support your business.
Our friendly team is here to help
If you need any assistance, please call 1300 142 820 for information relating to small business or visit our contact page for more information.
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