Detailed Business Plan for Noir: Garment Industry Startup

This document presents a comprehensive business plan template designed for Noir, a startup in the garment industry. The plan encompasses various crucial sections, including an executive summary outlining the current position and growth plans, a detailed business background with historical context, and a strategic overview of tactics and e-commerce integration. The plan also includes the company's management structure, team details, SWOT analysis, and critical success factors. It further delves into market research, market analysis, and competitor analysis to identify opportunities and threats. The financial plan and marketing strategy are also discussed, along with the business ownership structure and compliance aspects. The plan's primary focus is on maximizing strengths, capitalizing on opportunities, and adapting to market changes. The target market is young people, with potential expansion to all age groups. The plan includes strategies to meet market demands through innovation, advanced technology, and employee training.

Business Plan Template
Let’s get down to business
If you’re thinking of buying or starting a new business, it’s important to have a plan.
But not just any plan. You’ll need one that acts as your roadmap to follow, your
benchmark to look back on, and your key document to reassure prospective
investors.
Our Business Plan Template allows you to create just that – a comprehensive
solution suited to your business.
Ready to plan?
To get started, simply answer the questions and fill in the fields where needed. Don’t
worry if you get stuck – just click the ‘Help’ links under the sections titles.
Keep in mind that the structure of the template is a guide only. So depending on your
business type or intended audience, you might want to delete (or add) sections.

Business plan for
Noir
Date: 21 Sep 2019

Business profile
STRUCTURE Sole trader
ESTABLISHED 21 September 2019
DATE REGISTERED {Enter date registered – if applicable}
REGISTRATION # {Enter your Australian Business Number ABN}
Contact details
CONTACT NAME {Enter your name}
TELEPHONE {Enter your main phone number}
MOBILE {Enter your mobile phone number}
EMAIL {Enter your email address}
POSTAL ADDRESS {Enter your postal address}
PHYSICAL ADDRESS {Enter your physical address}
Online/Social media
WEBSITE {Enter address} BLOG {Enter address}
LINKEDIN {Enter address} GOOGLE+ {Enter address}
FACEBOOK {Enter address} YOUTUBE {Enter address}
TUMBLER {Enter address} INSTAGRAM {Enter address}
TWITTER {Enter address} PINTEREST {Enter address}

Contents
1. Executive summary
2. Business background
3. Business strategy
4. My team
5. SWOT and critical success factors
6. Market research
7. Market analysis
8. Competitor analysis
9. Financial plan
10. Marketing strategy
11. Business ownership structure
12. Compliance
13. Assets

1. Executive Summary
Current position
The life cycle of a business is its progress and phases that is divided into five parts like launch,
growth, shake-out, maturity and decline. The financial parameters that are used to describe the
position of a business are cash flow, profit and sales. The business is in its start-up or launch phase of
its life cycle as it has recently been started. In this phase, the company starts its operations and
launches its new products in the market. The sales in this phase are low but they are forecasted to
gradually increase. The initial focus and motive of the company are the marketing strategies for its
target group customers by means of advertising the benefits and value propositions. The budget plan
was prepared before its initiation. It is aiming to bring innovation into the business for standing out
amongst its competitors. The time period of this phase may last for a period of five years.
Growth plan
The growth phase of the company experiences rapid growth in its sales. Upon the rapid increase in its
sales, the business starts incurring profits after crossing the break-even point. The innovations in the
designing of the products will be used to increase the capabilities of the business. The changes in
them will be implemented at regular intervals so that it will induce more customers towards purchasing
it. The confidence in the business has been built due to the hiring of skilled and innovative designers
for designing the garments having a good taste and preference of fashion. The profits will lag behind
the cycle of its sales, as initially the levels of profits are lower than the level of sales.

2. Business background
History
The growth of garment industry has raised from 1.3% to 5.1% over the recent years. It is a very
competitive industry in Australia. It has been to grow in multitudes within a less span of time. There
has been reduction in its tariff rates. Having a keen interest and knowledge about fashion, it was
decided to propose prepare the business plan for it.
Goals
Short term goals Target date
Sales maximisation 3 months
Increasing customer base 4 months
Contracting a consultancy firm to help understand the market trends 12 months
Learning and understanding the market competition 8 months
Brainstorming to increase the strategy 10 months
Long term goals Target date
Retaining customers Perpetuity
Expanding its outlets to various locations 2 years
Profit maximization 3 years
Maintaining the quality of the products Perpetuity
Providing customer service Perpetuity
Achieving positive feedback Perpetuity
Products
The business will be offering garments for kids and young people who are the target market. The
company will try to continuous modify the necessary changes in its products with the change in market
trends and customers taste and preferences. This will encourage and attract more customers towards
the brand and increase its customer base. In the future, the company may expand its line of products
by introducing the garments for all age groups of people.
Intellectual property (IP)
The intellectual property of the business being its name and symbols are protected. They are required
to be protected as they set the business apart from its competitors. They have their own value and
goodwill in the market which cannot be traded for anything else. To prevent others from using it, they

are protected. The patents have been protected using the assistance of a patent attorney and has
knowledge about it.
Locations and outlets
The store is located at a busy marketplace having great foot traffic. The manufacturers are located
near links of freight transport. The business has been started with only one store. In the future, it is
expected to grow its business and expand across many locations nationally as well as internationally.

3. Business strategy
Tactics
A loyalty bonus program incorporated for its customers where the points get accumulated and can be
redeemed on their next purchases. A skilled IT expert will be required for this purpose.
Strategic impact
A very competitive industry with changing taste and preferences along with new trends in fashion
evolving. It is also seen to be a good opportunity for young and creative designers who build their
career in this sector. A regressive strategy for the marketing will be adopted.
E-commerce and technology
Building an online portal for customers to facilitate shopping. The handling of the portal will also
require the management of the facility that the company provides to its customers for the trials of
clothes before making the purchase. The company requires to identify cost effective sources of IT
resources for its creation of logo for the company. A skilled IT professional will be required for
handling the loyalty program of the business.

4. My team
Management structure
The management structure of a company helps to ascertain its flow of management, organization,
corporate culture, channels used for promoting new challenges and the system of decision making. A
particular layout for its responsibilities and positions are set that the managers of the department strive
to achieve. A manager with 3 sub managers will be appointed for the three departments- accounts,
marketing and human resources. The flow of information takes place through the channels of designer
heads, purchasing heads, sales heads and marketing heads who further report to the Chief Executive
Officer.
Current team
Name {Enter employee’s name}
Position {Enter text}
Qualifications {Enter text}
Expertise {Enter text}
Track record {Enter text}
Name {Enter employee’s name}
Position {Enter text}
Qualifications {Enter text}
Expertise {Enter text}
Track record {Enter text}
Name {Enter employee’s name}
Position {Enter text}
Qualifications {Enter text}
Expertise {Enter text}

Track record {Enter text}
Retention and recruitment policies
The management should employ a good relation with its employees. The ideas given by employees
should be incorporated into the business if they are thought to improve the performance of the
business. A good incentive plan for them will help to retain and recruit skilled workers. The other
employee benefits post retirement should also be provided to them. A healthy and well planned
working environment will motivate them to keep working for the business and attract more workers.
The policies of recruitment should be properly explained to its employees.
Mentors and business support
The suppliers of the materials can be used for predicting the business requirements as they have
been in the industry before the management. They know the trends and prospective ways to grow.

5. SWOT and critical success factors
Strengths I will maximise them by:
 Innovative trend
 Affordable pricing
 Customer friendly
 Low start-up cost
 Hiring young designers
 Reduce the controllable costs
 Giving proper training on
communication to the employees
 Expanding the outlets depending
on the reaching of breakeven
Weaknesses I will maximise them by:
 Limited branches
 Difficult to maintain profits
 High operating cost
 Opening new stores at different locations
 Increasing the gross profits and margins
 Reducing irrelevant costs by
appropriately choosing the sources
Opportunities I will maximise them by:
 Establishing new outlets
 Expanding the scope of business
 Maintaining expansive presence in the
market as well as over the online
platforms
 Using the online portal to facilitate its
customers for shopping and performing
trials
Threats I will maximise them by:
 Large no of competitors
 Difficulty in understanding the market
requirements
 Building strategies to increase the
goodwill in market over its competitors
 Contracting consultancies and using their
help for a better understanding
SWOT summary
Chosen strategy
The strategic decision adopted by the business is of exploiting the strengths and maximising the
opportunities available. It has provided an online portal for its customers to showcase its clothing.

Critical success factors
 Keep upgrading the resources used for manufacturing the products
 Making amendment’s as per the changes in tastes and preferences
 Controlling the costs

6. Market research
Primary market research
A survey was conducted and the results obtained were favourable for starting the business. The
opinions of its responders were taken into consideration.
Secondary market research
The revenue generated by this type of industry was found to be ranging from $17bn to $22bn. It is
seen to grow at 5.1% annually. The women’s wear segment has seen to be lucrative. Currently, there
are 11039 businesses working in this sector. It provides employment to an estimated count of 109545
people.

7. Market analysis
Market opportunity
The potential revenue in the marketplace was found to be more than $15bn. It has a lot of growing
opportunities. There are many career opportunities identified in this sector which helps an individual
grow.
Market structure
The supply chain structure is the link between its raw material sources, the place of making the
materials into garments and the network used for distributing the clothes.
Future markets
Local
Market structure
A perfect competition is the market structure adopted by the business due to its low costs of entry and
focus on customer satisfaction.
Size and outlook
The size of this industry includes more than 11000 businesses.
Target market
Target market description
The target market is the young population. After a certain period of time, when the company starts
earning large profits and understands the requirements of the market it can increase its target market
to all age group of people.
Factors influencing purchasing habits
 Income of the consumers
 Changes in fashion
How your business will meet the market’s requirements
The business will meet the requirements of the market by learning and understanding the demands. It
will bring innovations and creativities in the garments sold by them. The technology used will be
advanced. The employees will be provided with proper training for improving their skills.

8. Competitor analysis
Country Road
Strengths Weaknesses
 Swift and flexible customer service
 Experienced staff
 Inefficient processes
 Poor product quality
Myer
Strengths Weaknesses
 Automation of activities
 Strong brand portfolio
 Financial planning
 Poor organizational structure
Strategy
Their strengths and opportunities will be combated by providing improved in the quality of customer
services and products offered to the customers.

9. Financial plan
Start-up costs
The start-up costs for the store is relatively low. As it is a newly located store the cost would amount to
$170800. It includes fixed as well as the average monthly costs which add up to the start-up cost of
the business.
Funding
Sources of funding-
 Owner’s fund – These are the funds contributed by the owner who is the sole trader of the
business. The profits that have been reinvested into the business are also included in this
amount. They are the amounts that have invested in the business for a long period of time.
 Bank loan @ 10% - It is the fund obtained from bank at an interest of 10%. They are provided
by the bank for a limited period of time and has to be repaid along with some interest amount.
Break-even date:

Profit and loss forecast

Cash flow forecast

10. Marketing strategy
Launch budget
The start-up cost amounts to $170800 where the fixed costs like premises, retainer contracts, market
survey, logo design, interest on loan and more that amounted to $111750. The average monthly costs
included salaries, rent, postage and telephone and some more costs, the total of which amounted to
$59050.
Marketing budget
The marketing budget was estimated at $47995 that was considered as sustainable using the tactics
within the forecasted cash flow. The company has decided to adopt a regressive marketing strategy
for attracting customers.

12. Compliance
Legal and regulatory considerations
Sole trader
I have carried out the following:
 Applied for an Australian Business Number (ABN)
 Registered my business name
 Registered for GST
 Register your domain name
 Trademarked my business name and brand.
 Applied for the required licenses and permits.
Insurance
The store should have the general liability insurance for any accidents that may happen inside it like
the damage of the property of the customer due to a fall of display or body injury faced by
customers while side walking the store. The assets of the store are also vulnerable to damage upon
occurrence of natural disasters, fire or other weather conditions. The property insurance would help
to replace the items and repair the foundation of the store. The workers are also provided with
insurance which covers their risk exposure.

13. Assets
Business premises
A store has been leased for the selling of clothes. As the business is a start-up it does not have a lot
of funds. Therefore, it has leased the shop for sale.
IT
Requirements
Hiring skilled IT professionals for handling the online portal, loyalty bonus program and designing the
logo.
Equipment
Requirements
Furniture, equipment and plant and machinery including -
 Racks and shelves
 Types of hangers
 Mannequins for displaying clothes

Need a hand?
Helpful tips and explanations
Executive summary
Less is more
From tradies to shop owners, all successful small businesses know how to sell themselves. So think
of the executive summary as your elevator pitch – what exactly do you do, and how can you get this
across to your audience in the simplest way possible? Don’t worry about the finer details – these
come later on. Just focus on the bigger picture.
We know this can be tricky. So here are a few tips to help you out:
 Don’t tackle it straight away – with all the other details in place, it’ll be easier to write it later on
 Keep it short and simple (only a few paragraphs), and use non-technical, everyday language
– if the reader’s a potential investor, they might be pushed for time
 Think about whether you should be using one or not – if your readers are experts in your field
or industry, they might just skip to the finer details of your plan.
Current position
Whether you’re just starting out, or you’ve been in the game a while – it’s important to clearly outline
your current position in both your business life cycle (introductory phase, growth phase, mature,
declining), and the industry you’re in (emerging industry, growth industry, mature industry, declining
industry). If you haven’t started, just outline what you’re doing now and how it relates to your business.
Growth plan
Ready to grow? Then this is your chance to show it. Explain how you plan to up your business’s
capabilities (skills and offerings) and its capacity (rate and scale of production). Confidence is key
here – so really push how your business will continue to flourish and be sustainable.
Business background
The highlights reel
When it comes to business, sometimes going forward means looking back. Whether you’re writing
about your current business, or a business idea, it’s important to give your reader context – to
showcase those significant moments that led you to where you are now.
History
 Already in business? Then give a brief timeline with all the major turning points – successes,
milestones and any challenges you overcame
 Got a business idea? Write about how your idea came about, as well as your own business
background, and relevant skills.

Goals
Here’s where you should list your short-term (12 months) and long-term (up to 5 years) goals and
objectives. Make sure you include a timeline for expected milestones.
Products or services
What are you offering? It’s a pretty simple question, and deserves a simple answer. So ask a friend
with no technical knowledge of your industry to read over this section. If they understand what you do,
then you’re on the money. If not, it’s best to try again. At this stage, the reader shouldn’t have to work
hard to understand what you’re offering.
Intellectual property (IP)
Make a note of any copyright protection you hold on an original product or service concept. If you’re
not sure you should have one, it’s best to get help from a patent attorney. Also, outline any existing
contracts for work or extra legal protection you may have.
Location and outlets
Does where you work give you an edge over the competition? Use this section to explain the
advantages of your business’s location(s). For example, retailers need locations with great foot traffic,
while manufacturers are better to be near freight transport links.
It’s best to back up your argument with research, so visit the Australian Bureau of Statistics site.
Business strategy
Kicking goals
Every small business has goals. But it’s the successful ones who know how to achieve them. From
tactics and core values, to how you’re using technology, this section’s all about making your business
strategy shine.
Tactics
What’s your plan of attack? Outline the practical steps you’ll take to get your business from where it is
now, to where you want it to be. And the resources you’ll need to do this.
Strategic impact
What opportunities or external threats could your strategy give you over the next one to five years? If
you’re unsure, fill out the SWOT section first.
E-commerce and technology
As technology advances, so should your business. So explain how you’re using (or planning to use) e-
commerce and technology to boost your business – e.g. to lower costs, speed up processes, crack
into new markets, or build up your sales.
Core values
What are the values that really guide your business? Outline how crucial they are to your long-term
success, as well as how they’ll benefit customers and motivate you and your staff.
Credibility and risk reduction
Explain how you’ll increase the credibility of your business, as well as reduce the customers’ risk when
doing business with you.

My team
Stronger together
Management structure
Outline your business’s management structure – what roles have you assigned to each manager?
Current team
What makes your team so valuable? Introduce each member – providing their qualities, expertise and
track records (these act as assets to your business).
Retention and recruitment policies
Outline the ways you’ll keep key staff onboard, as well as attract new workers. This shows how you’ll
maintain and improve your capabilities. And gives your readers confidence that your business won’t
be hamstrung by high staff turnovers, or any other human resource issues.
Mentors and business support
The more help you have, the stronger your plan will be. So list all the support resources you can rely
on, and what kind of assistance they’ll provide to make your business more competitive. Remember
that this support can come in many forms – whether that’s from a mentor or local chamber of
commerce. Everything counts.
Find out about the Australian Chamber of Commerce here.
SWOT and critical success factors
How healthy is your business?
Basically, SWOT analysis is a way of measuring your business’s health – looking at its strengths,
weaknesses, opportunities and threats. What you need to do is list these in the left columns of the
table. And in the right, jot down what you could do to maximise or minimise their impacts.
Keep in mind, while strengths (such as a strong brand) and weaknesses (such as low cash flow)
should be internal factors, opportunities (like a trade show) and threats (such as a new competitor)
should be external factors.
SWOT summary
Now that you’ve completed your SWOT analysis, you can use it to help choose a strategic direction
for your business. This is done by comparing the strengths, weaknesses, opportunities and threats
you’ve recognised.
Here are the four SWOT strategies:
S–O: Exploit your internal strengths to maximise your external opportunities.
W–O: Minimise your internal weaknesses by exploiting your external opportunities.
S–T: Exploit your internal strengths to minimise your external threats.
W–T: Minimise your internal weaknesses and evade external threats.

If your SWOT analysis makes clear a course of action, write down your strategy in the ‘Chosen
strategy’ box, detailing how you’ll make this happen. Then, make a list of the critical factors for your
strategy’s success in the ‘Critical success factors’ box.
This section shows others how you’re thinking ahead, rather than just focusing on the day-to-day
operational issues. You can also use this section as a living document – to update and assess what
direction your business should be heading.
Market research
Knowledge is power
Make sure you outline everything you’ve researched about the market – and most importantly – how
this has helped build your plan. You should also explain how you’ll continue to build market research
into your day-to-day operations.
Primary market research
This is new research that you’ve carried out in order to answer certain questions.
Secondary market research
This is research that’s already been done and is publicly available. For example, you might find some
useful demographic statistics off the Australian Bureau of Statistics website.
Market analysis
Why the attraction?
Market opportunity
What opportunity in the market did you recognise? This section is all about describing your decision.
So go into detail about how visible this opportunity is to your competitors (whether it’s a gap they’re
looking to fill, or you think it’s largely unknown) and the potential revenue it represents.
Market structure
Where does your business fit into the marketplace? Or the supply chain structure? What methods do
you plan to use to change the status quo? For example, you might start selling directly to customers
online – especially if the ‘traditional’ structure in your industry is to sell to wholesalers and retailers.
This provides you with cost and time efficiencies that represent an edge on the competition.
Market size and outlook
Here you should place all the relevant stats to describe the market. Your readers need to know how
big the market is in consumer/business numbers, as well as the potential value of the market coming
from spending habits.
So once you’ve established the parameters, give evidence for the changes you think are taking place
– and the direction you think the market is going. And remember, no market ever stays the same.
Things like the economy and demographics always play a part in growth and contraction. So you’ll
need to show that you’re across everything – analysing the market correctly to spot opportunities and
threats that might exist.

Future markets
Here you need to outline the markets you think will make your business grow later on.
Target market
There should be a certain type of customer you’re targeting – so describe their size and potential
value, including all relevant stats for your business. After you’ve described your target market, fill out
the next two boxes about the factors influencing their purchasing habits (e.g. seasonal occasions or
economic turns) and how your products or services respond to these conditions.
Competitor analysis
What (and who) you’re up against
When you go into business, it often feels like going into battle. So use this section to pinpoint your
competitors’ strengths and weaknesses – and what you’ll do to combat the former and target the
latter.
Your choices should always be based on comprehensive research. That way, you’ll have a clear
picture of what your competitors are offering the customers you’re both targeting. This means you
should purchase products or services from them – just so you’re not making assumptions.
And if you think you’ll be recognised, don’t use this as an excuse to limit yourself to their website and
advertising. You can always send in a friend as a mystery shopper.
Financial plan
All about the money
Start-up costs
Summarise the start-up costs of your business – accounting for as much detail as possible. The more
honest and accurate you are, the better. By sugar-coating the costs now, you’ll just be setting yourself
up for problems later on. And this means you’ll have to spend time digging down into the figures.
Funding
What are your sources of funding? It’s up to you how much detail you go into, but if you’ll be showing
this business plan to potential investors, they’ll want to see how much you’re backing your business –
both with your own and others’ investments.
Break-even date
Carry out a break-even analysis and enter the resulting date in the space provided. This estimates
when your business could break even and start to pay its ongoing costs.
To find your break-even date, estimate the sales volume you’ll need to reach to break even, and
estimate how long it will take to reach that milestone – given your capacity limitations.
Here’s how to estimate your break-even sales volume:
1. Separate all your costs into type – fixed or variable.
2. Add up your total fixed costs.

3. Calculate the average variable cost per product sold or service delivered (your variable cost
per unit).
4. Subtract your variable cost per unit from the unit sales price to find your profit margin.
5. Divide your total fixed cost by your profit margin to find your break-even sales volume.
You’ll also need to estimate your business’s average production or service capacity per day (or week
if that’s more relevant). From production to point of sale, you’ll need to account for the entire supply
chain. Once you have an accurate estimate, divide the break-even sales volume by your average
production capacity. This gives you the number of days (or weeks) ahead until you reach your break-
even date.
Charge an hourly rate for a service? Here’s an easy way to calculate your break-even point in hours.
1. Divide your fixed costs by your hourly call-out rate – this finds the number of hours that need
to be worked to reach break-even
2. Apply the result to the average number of hours worked each day by the service technicians
in your business.
Profit and loss forecast
This is where you’ll need to present a summary of your profit and loss forecast for the next year –
before attaching a detailed forecast to your plan.
This can be tricky for existing businesses – let alone start-ups. So if you’re in this phase, you’ll need to
base your figures on your market research. Simply estimate the value of the market and what share of
it you could take from your competitors down the track.
Try finding industry data, or using publically available stats for support. You can also provide
pessimistic, realistic and optimistic forecasts, rather than just one – to promote your objectivity.
Cash flow forecast
Here you’ll need to sim up your cash flow forecasts for the next three to five years, before attaching a
detailed forecast for the next year.
Few businesses can claim steady levels of cash flow throughout the year, so unless your industry or
business model can justify this prediction, you’ll need to drill down into your market research. This will
give you a good idea of the ups and downs in your expected income.
Marketing strategy
The customer experience
From product design and pricing, to sales and advertising, this section should outline how you’ll
market your business to your target audience. To give you an idea, the key parts of a marketing
strategy are often called ‘The 4Ps.’ The more coordinated they are, the more likely your strategy will
succeed.
So what are the 4Ps?:

 Product – designing features into your products or services that meet the needs of your
target market.
 Price – using a pricing strategy that reflects the values of your offerings and brand, and
appeals to your target market.
 Place – choosing the right distribution channels to make sure your offerings are sold at the
right place and time to meet your target market, and choosing the correct delivery method to
meet their needs.
 Promotion – choosing promotional and advertising tactics to appeal to your target audience
to maximise sales.
All four should work together. Our advice is to split your promotional strategy into two categories –
launch and ongoing marketing – because they’ll require two different sets of tactics. Launch will aim to
attract new customers, while ongoing uses a mix that contains more tactics for keeping existing
customers.
When it comes to budgeting your promotional and advertising efforts, you should measure and keep
track of your spend as you would do in any other part of your business. This means using break-even
analysis to measure the level of business needed – before seeing a return on your investment, and
comparing that with your costs. If the ROI is unrealistic, try to find more cost-effective ways of
marketing your business.
Launch budget
Not many businesses make their name purely on word-of-mouth. They need to promote themselves,
to set up their stall in the marketplace. So the budget for this should be part of the start-up costs
mentioned in the finance section (9). And they should reflect the total cost of the launch marketing
tactics outlined in your marketing strategy.
Marketing budget
After a successful launch, you’ll need to keep up with the marketing. You want your brand to be ‘top of
mind’ within your target market. This means the budget for your ongoing marketing strategy should
use tactics that are financially sustainable within your forecast cash flow. If you find that you need half
of your monthly cash flow to do this, it’s time to go back to the drawing board.
Business ownership structure (companies)
Who owns what?
Different businesses have different structures. If you have directors and shareholders, outline the
ownership structure – along with their investments, liabilities and share of profits. If you’re in a
partnership, make sure to include your deed of partnerships. And if you’re a sole trader, just delete
this section from the template altogether!
You can find out more about Australian business structures at business.gov.au.

Compliance
Keeping your business in line
It’s certainly not the most exciting part of any business plan. But compliance – or the lack of it – is
actually a common area of risk.
Legal and regulatory considerations
For this part, delete the two sections that don’t apply to your business (sole trader, partnership,
company). Simply tailor the list of completed compliance tasks to your situation.
It’s important to show your business complies with national and industry standards and practices. This
is to avoid any negative fallout from non-compliance (fines and bad PR). More info? Just search the
Australian Business Licence and Information Service (ABLIS) to check what licences or permits your
business might need.
Insurance
Here you’ll need to outline your business insurance arrangements, to show you’re mitigating the risks
to your business continuity. Business insurance can include:
 Public liability insurance – to cover legal hassles due to accident, injury and claims of
negligence.
 Product liability insurance – protects against financial loss due to a defective product that
causes injury or bodily harm.
 Business interruption insurance – covers your loss of earnings if you need to shut down
due to a fire or other event, until you’re back in business.
 Motor vehicle insurance – it’s compulsory to register motor vehicles and your business has
four options to choose between.
For more information on business insurance in Australia, head to business.gov.au.
Assets
What you own
Business premises
Detail your premises situation (if applicable). Do you (or are you going to) lease premises to save
money on your capital costs? Or do you own your business’s premises as an asset that accrues
value?
IT
Here you need to explain your IT requirements and how you plan to manage them – including
solutions for any specialist human resources or security issues.
Equipment
Explain your equipment requirements and how you plan to manage them – including solutions for any
machinery, vehicles and equipment costs. For example, is it more in your business’s interests to
purchase or lease certain equipment?