(BEEPING)

KOCHIE: Over 284,000 businesses were
started in Australia last year,

so if you're thinking about starting
something up, you're not alone.

However, unlike a school of fish,
there are no safety in numbers.

The ABS also recorded
263,000 business exits.

It starts with considering
what you actually want to achieve

with your business.

By doing this, you'll be able to
clarify your personal

and financial goals.

Then look at the idea
through an investor's eyes.

Who's the target market?

What problem is being solved?

What resources will be required
to get it off the ground?

And what does the business
roughly look like?

At the beginning,
it's worth running your numbers

through a business
viability calculator

like the one on
the NAB business tips website.

If they stack up, complete
a business plan and test the market.

For more tips and tools, visit: