Diagram showing five steps to owning a business. Explained in detail in text below

 

1 GOAL SETTING

Identify what stage of the Business Lifecycle you are at and what you want to achieve. Do you have an idea for a business and want to explore it a bit more? Do you have a business that started as a hobby and want to expand? Have you tested your idea, confident that it will work, and want to know the next steps in opening?

2 DEVELOP YOUR SKILLS AND KNOWLEDGE

Check out IBA’s range of free workshops to find out what you may need to achieve your goals. Our Business Essentials workshops will assist you to design your business and help you to identify some of the actions that may be needed before you take the next step.

3 RESEARCH

It’s important to fully consider all parts of the business and the market before you start. Research can help you find the answers to some questions that relate to key aspects of the business that you may be unfamiliar with.

4 PREPARE

Setting your goals, building on your existing skills and knowledge, collecting as much information about your business idea as you can, will help you and others determine the next part of your business journey.

5 CONTACT IBA

Find out how we may be able to help you start a business.

Where do I begin if I want to start a business? 

Starting a business can be one of the most exciting times of your life, but also one of the most overwhelming for the unprepared.  Knowledge of the industry that your business will operate in, who your competitors and customers might be, what your goals are, an understanding of some of the challenges that you may face and more, are important when planning for business.  A great resource to help you prepare for business is IBA’s Business Essentials workshops  and a good starting point is the weekly online Your Business & IBA Info session.

Another helpful resource to assist you to prepare for starting a business is business.gov.au.

IBA has a range of products and services that can assist you to plan and prepare but you will need to be committed to making your business work. It’s your business to make it successful! It’s our job to help you along the way.

Let’s get started!

To help you along your business journey we also have:

Workshops
To support your learning and development across the Business Lifecycle, IBA has a range of workshops available.

Business Support
Once your business concept becomes more established, IBA can work with you to understand your business goals, develop your ideas and identify what type of support your business may need. Our Business Development team can also link you to other networks and resources for information and support to help you hit your goals.  Depending on the strength of your proposal we can provide access to an external business consultant to provide your business with specialised technical support.

Business Finance
When you’re ready and have a viable business proposal developed, IBA has Start up Finance that can assist to get your business started.

  • Start-Up Finance Package– designed to help new businesses get off the ground, this package can include up to 30% of a new business loan awarded as a grant. The loan amount can be up to $100,000 with a maximum loan term of seven years, with low-interest rates and flexible terms. Loan repayments will be structured to suit the purpose and cash flow of the business. The grant component is available to cover capital expenditure items. This package is targeted specifically at small to medium start-ups that have been trading for less than two years and with less than $400,000 in annual turnover.
  • Business Loan– designed to assist you with working capital requirements, purchase of existing businesses, plant and equipment, and other commercial assets, so you can start planning your business future right now.
  • IBA’s other Finance products once you start your business.
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