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A key requirement to successfully setting up your business is to ensure you have your financial obligations and planning sorted.
The Australian Taxation Office have a useful section on their website called 'Starting a business essentials' which steps you through your taxation considerations and obligations.
The Federal Government Business Portal website provides a range of Financial Planning Guides to help you manage financial issues such as:
- Raising finance
- Managing cash flow planning, and bad debt
- Understanding balance sheets and profit and loss statements
- Establishing sound financial practices.
Financial Analysis Business Planning Tool This tool will help you analyse your business performance under different business scenarios. It will help you conduct "what-if" and "goal-seek" analysis as you develop your sales plan or operations budget.
Banks and other financial institutions have very useful financial tools on their websites. Check your banks website in the Business Banking area.
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