Start Up

Intenders

We assist people who are thinking of starting a business; this could be buying an established business, a franchise or taking an idea into reality. Planning is so important and we are here to help.

We provide resources and advice to help you determine the viability of your business idea and how to set it up.

Advice

Should I go into Business?

Is that bright idea you have for a new business feasible? Will it work in the real world? Is the business you are thinking of buying a sound proposition? Will your proposed move into the world of business meet your expectations?

These fundamental questions will be answered through the development of a feasibility study. This is where you undertake a fact-finding mission to determine whether your idea will work or whether some refinement of your ideas may be necessary. If your idea is shown to be viable, the feasibility study will lead to the development of a business plan, as explained in the guide Planning Your Business Success.

Whether you are buying an existing business or establishing a new business financial loss and associated emotional stress can be avoided if you take time to research your business idea thoroughly.Click to download

The Challenges of Business

Are you thinking of owning and managing your own business? It can be a rewarding experience with two provisos – you know what it takes and have what it takes.

Starting a business is risky and there is a high incidence of business failure. Around 90 per cent of small businesses can cease to exist within the first eight years, but research and basic skills can put the odds in your favour.

This guide offers a series of checklists and questions to help you think through what you need to know and do.Click to download

Financing Your Business

No business activity – whether it be marketing, sales, production, administration or planning – exists independently of the financial factors governing the operation. Finance is the ultimate business reality.

Careful preparation is essential when it comes to borrowing. It begins with a study of the financial requirements of your business and a matching of the appropriate loan facilities to those requirements.

Once the financial requirements have been identified, you need to ‘sell’ the business proposal to the financier. While a well-prepared business plan or loan proposal may be regarded as your passport to finance, your ability to obtain the loan on cost-effective terms that suit you will depend upon your negotiating skills in the loan interview. Click to download

The Mechanics of Starting Up

There are certain mechanics about everything we do – going from home to work, playing sport or leaving on an overseas trip. All require certain mechanics and if the mechanics are not taken care of, the result can be a disaster. No one, for example, would think of leaving on an overseas trip without giving thought to direction, timing, travel route, visas, passports, health injections and so on. These are the mechanics.

In starting and operating a business, there are similar mechanics which need to be worked through systematically before the venture is launched. This guide addresses the major issues. Remember that you may need to add other mechanics to cover your particular business situation. Click to download

Planning To Start a Business

Are you buying yourself a job?

Have you asked yourself why you want to start in business? Is it because you want to invest your money, time and talent into a profit-making venture, or are you trying to buy yourself a job? Many people find that their hopes turn into a struggle to survive on less than they would have received through regular employment because they have not done their homework.

Starting a business for many means that they are prepared to spend long hours and a great deal of effort in order to make long-term gains in the way of increased sales income or a profitable venture which they can later sell and make capital gains.

Before you commit yourself you should do your sums.

Firstly, you should list all your living expenses in order to see what minimum take-home sum is needed to maintain your present style of living. Secondly, you should consider the impact of any finance you want to raise to start the business and whether this poses a risk to your other assets. Thirdly, could you meet the repayments if the venture fails? How much will you need to set aside for taxation and personal investment for the future? Click to download

Planning your Business Success

In the guide titled The Keys to Business Success, business planning, including its ongoing use as a management tool, was listed as one of the keys. This guide focuses on what a business plan is, the benefits of planning and how to prepare a plan for your business.

There is a well-known saying in business that business owners do not plan to fail, they merely fail to plan. This saying draws on the results of small business studies which show that owners who plan their businesses are much more likely to survive and prosper.

Does this sound as though business planning is the ‘magic formula’ for success? Not so; business life is not that easy. While business planning is not a guarantee of future success, it certainly helps to understand, plan and evaluate key steps in the decision-making process. Click to download