Buying, starting or franchising a business

Building a business from scratch

Creating a new business starts with a good idea. Before you launch, take time to test your idea, make many (so many) decisions, and more. Here’s an overview of what’s involved in building a successful business.

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Be prepared

Building a business from the ground up is hard work. There will be sleepless nights and tough decisions to make. If you’re prepared to work hard enough to make it happen, the result can be incredibly rewarding. 

To give your business the best shot at success, you’ll need to consider: 

  • The feasibility of your idea
  • Actual demand for your products or services
  • How much money you’ll need to start up and keep your business ticking along until you break even
  • Where you’ll locate your business
  • If you need employees or paid advisers to help run your business
  • The true costs of going into business, from set-up costs to day-to-day expenses. 

You’ll need to conduct robust market research and have a good grasp on the numbers before taking the plunge.

Advisers, mentors, and peers

Even though you’ll be building your business largely on your own sweat, you don’t have to go at it alone. There’s lots of assistance available to help you make the best decisions. Assemble a team of experienced advisers, including an accountant or bookkeeper, lawyer, and business mentor. You can also talk with an ANZ Business Specialist. 

Speak to as many business owners as possible, including those who run similar businesses to your new business. With your future financial stability at stake, the stories and information they share can be priceless.

Starting a business

There is a lot to think about when starting a business, this video runs you through some of the things you can start checking off to get yourself open for business.

Contact an ANZ Business Specialist

Our specialists understand your kind of business and the challenges you face as a business owner. We can help you figure out how to make your business grow and succeed.

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Important information

We’ve provided this material as a complimentary service. It is prepared based on information and sources ANZ believes to be reliable. ANZ cannot warrant its accuracy, completeness or suitability for your intended use. The content is information only, is subject to change, and isn’t a substitute for commercial judgement or professional advice, which you should seek before relying on it. To the extent the law allows, ANZ doesn’t accept any responsibility or liability for any direct or indirect loss or damage arising from any act or omissions by any person relying on this material.

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