How to start your business

There's a lot to think about when starting a business. From writing a business plan to understanding the red tape, we've got tips and resources to make sure you have the necessities covered.

Write your business plan

This is the most important tool in your toolkit, so its worth investing some time in.
1

Download a template

You don't need to start from scratch. Download our template (word) to get started.
2

Have a planning day

Spend some time clarifying what you want to achieve from your business to make sure your plan can take you into the future.
3

Think like an investor

Make sure your plan shows investors that you have a viable business solution.

Choose your business type

There are four structures to choose from.

Red tape checklist 

Make sure you cover the formalities. 

Getting your business off the ground

Here's a few things to think about. For more handy tips and resources, check our business tools.

Consider your current income

Do you plan to keep your current job for a bit longer? It could help out with initial costs.

Discover your borrowing power

If you have enough equity in your home or an established business, you might be able to borrow some money.

Start from home

It'll save money on renting another space, plus you might be able to claim tax deductions on your housing expenses.

Brainstorm your options

Government grants, capital investors and crowd funding are possible ways to get yourself started.

Thinking about a side hustle?

If you don't want to quit your day job just yet and you're looking to start something up on the side, we're here for you. We've got the account and tools to help you get set up, plus some guides and tips to help you reach your goals.

How can we help?

Business Specialists Team

Speak with someone from the team today

Business Banking Specialists

Here’s how to get in touch

The information contained in this article is of a general nature and is not intended to be nor should it be considered as professional advice. You should not act on the basis of anything contained in this article without first obtaining specific professional advice. Also to the extent permitted by law, Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL / Australian credit licence 234945, its related bodies corporate, employees and contractors accept no liability or responsibility to any persons for any loss which may be incurred or suffered as a result of acting on or refraining from acting as a result of anything contained in this article.