Buying, starting or franchising a business

Check if getting into business is right for you

Starting a business means investing a huge amount of your time, money (maybe someone else’s money), reputation and energy. Before you take the leap, double check it’s something you absolutely want to do.

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Work on the business

You know how to do the work you intend to offer. But do you have the appetite and skills to run and manage a business? Running a successful business requires juggling every aspect from accounting, admin and tax to sales, marketing and customer service.


Consider these aspects of your experience and personality to check if you’re ready to be self-employed. 

The more of these characteristics you have, the more comfortable you’re likely to feel about starting and running your own business. 

  • You thrive on challenges. 
  • You enjoy making, and being responsible for, your own decisions. 
  • You’re prepared to do training to develop the business skills you need – or to get input from specialist advisers.
  • You’re willing to work long hours without the security of a steady income. 
  • You’re prepared to possibly accept a lower income until your business starts to make a profit.
  • You can live off your savings, or an alternative income, during the start-up period. 
  • You have several years’ experience in the industry your new business will enter.
  • When approaching tasks, you naturally look to streamline processes and methods. 
  • Your loved ones understand the impact starting a new business could have on them and support you unconditionally in your aim. 
  • You can take the risk of losing the money you invest in your business. 
  • You accept that you can’t do everything yourself. You’re prepared to hire staff and delegate responsibilities or use the services of a professional. 

Ask other business owners

Talk to other people who have started their own businesses. Ask about the challenges of being self-employed and starting up. Reflect on whether it’s right for you.

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.

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.

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