Detailed Business Plan: Financial Management Consultancy in Australia

This project outlines a business plan for a financial management consultancy in Australia, targeting small to medium-sized businesses that require financial expertise without the overhead of a full-time CFO. It highlights Australia's strong economy, the increasing number of businesses, and the demand for financial consulting services. The plan details the company's marketing strategy, focusing on the consultants' experience, and emphasizes providing high-quality service. It also addresses the revenue model, organizational structure, funding sources, and critical success factors, including product, place, price, and promotion strategies. The document concludes with a business model canvas and references supporting the viability and potential profitability of the venture within the Australian market. The assignment also includes the business pitch and the marking rubric.

Running head: THINK BIG
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Australia is one of the very economically strong countries around the world. It has been
seen that the country has immense opportunities in terms of new economic activities and the
country is one of the highest in producing new businesses under the leadership of new
entrepreneurs who are very enthusiastic about creating new employment opportunities and
revenue generation. More and more Australian entrepreneurs are taking risks to establish their
own business.
The strong economy of the country is expressed by Forbes in the following manner “It’s
the world’s 13th-largest economy with the ninth-highest per capita income. The job market is
solid, salaries are high, and the minimum wage is $18.22 AUD ($14.48 USD). Amazingly, it
hasn’t had an economic recession in 26 years. Homeownership rates are high despite elevated
prices, particularly in Sydney and Melbourne. State Governments support a robust public
education system. Forty out of 43 universities in Australia are public universities and the
government provides generous student loans and subsidies. Australia has an enviable universal,
public health system and high standard of care” (Weisfeld, 2017). Therefore it can be understood
that Australia has immense potential in the field of financial services. The company wants to
utilize this immense opportunity to tap the economic potential of the country and therefore the
investors can rest assured of the huge economic gains and returns because there is no way that
financial services will face loss if the team is efficient.
Apart from that the country is also having a number of famous existing important
companies that are also having their branches all over the world. The very big retail companies
such as Woolworth. The common thing about the smaller and bigger companies is that they all
have the need of financial consultancy in the changing business environment of the country. The

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bigger companies within Australia usually have their own Chief Financial Officers and the
departments of finance, who work for consultancy. However presently it is seen that there are
many big companies have their smaller branches which are semi-independent and in need of
financial consultancy support. Whether or not there will be a separate department for financial
advice in an organization depends on the economic status of it. Whether a company can afford a
separate department with a full-fledged Chief Financial Officer or it hires a consultancy is
dependent on the amount of wealth it possesses.
The company is aiming to target this particular companies which are looking for capable
financial organization to give them assistance in the financial sector. The company will be
marketed in an exclusive way with the backgrounds of all the consultants and their past
experiences. It will be ensured that the best professionals from the market will be taken for the
consultancy purpose and whether or not big companies come in to seek financial consultancy,
the company will make sure that the best service is provided to them.
Australian economy is on the rise and the number of companies doing business within the
economic setting of Australia is also rising, this is the best time when this company can do
business in the most efficient way, therefore the investors must come up with good amounts of
investment to ensure that the business can be started off and the promotional campaigns begin.

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Reference:
Weisfeld, Z. (2017). The Rising Success Of Startups Down Under: Inside Australia's
Entrepreneurial Ecosystem. Retrieved from
https://www.forbes.com/sites/groupthink/2017/08/10/the-rising-success-of-startups-down-under-
inside-australias-entrepreneurial-ecosystem/#672730cd1cda