There are more than 2.2 million small businesses in Australia, with the sector accounting for half of our nation’s workforce and making up one fifth of our GDP. Many of these small businesses begin as a “start-up” often someone’s dream to contribute to our economy and reward themselves financially for the level of risk they are taking. When our small businesses thrive, so does our economy, creating more jobs and revenue. Sadly the failure rate of small businesses in Australia is 90% meaning in simple terms that 9 out of 10 start-up businesses fail.
To be successful there is no alternative to hard work, drive and resilience but without a plan this may still not be enough.
This month we were proud to be a part of the 2020 Geelong Small Business Festival sharing our tips on creating a ‘One Page Business Plan’. Our presentation shared the plan that we use with great success and share with our clients resulting in them surviving and flourishing.
The presentation is available here or below and if you’d like a copy of the plan and another exercise we worked through to determine your core values please email us at: hello@wealthbuiltright.com.au
By Terry Powell – Managing Director
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