creating a business plan nz

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Business.govt.nz, guide to starting a business.

If you’re new to being in business or self-employed, the tips below outline what's involved, from testing your idea to registering a trade mark.

If you’re starting a business in New Zealand or working for yourself, here are things you can do up-front to safeguard your investment in the future.

1. Make sure your idea is viable

It’s best to be confident your business idea will work. Write a business plan as a way of thinking it through. 

Business plan template  

2. Choose a business name

If you have a name in mind — even if it’s your own — use our ONECheck tool to quickly see if it’s available. With one search you can see its availability as a business name, trade mark, web domain and social media username, to help you choose a name you can market and protect.

Choosing a business name

3. Choose a business structure

If you’re a business or self-employed you can choose the structure that best suits you. The most common are sole trader, partnership or company. Each structure offers various benefits and considerations. Depending which you choose, you might have to register with government in different ways. Our Choose Business Structure tool can help you make the right choice.

Choose Business Structure tool (external link)

Business structure overview

4. Get a RealMe® login

You may need to get a few registrations from government agencies. Several agencies use a RealMe® login. If you don’t already have a login (username and password), you can create one when you register for a New Zealand Business Number (see step 5).

RealMe (external link)

*RealMe® is a registered trademark of the New Zealand Government.

5. Get a New Zealand Business Number

The New Zealand Business Number (NZBN) is a unique identifier for your business. Your NZBN links to the information others need in order to work with you, like a trading name, phone number or email.

Having an NZBN will make it easier to do business because you won’t have to keep repeating the same information when dealing with someone new or when something changes. If you’re a company, you’ll automatically get an NZBN. Sole traders, self-employed people or partnerships can register for an NZBN online and it’s free.

Complete all the data fields on your NZBN profile and set to public. Having an online presence on New Zealand’s biggest register means other businesses and customers can easily find you and adds to your businesses’ credibility. You can update your NZBN profile by logging into MyNZBN on the NZBN website.

Register for an NZBN (external link) — NZBN

6. Secure your business name

Whether you’re new to being self-employed or in business, a small investment now will mean you won’t lose your ability to market and protect your name while getting other things in order. Use our ONECheck tool as your starting point.

Step 6i: Register a domain name

Get a web address. Low cost, quick and easy. See the Domain Name Commission’s list of authorised registrars.

Authorised registrars (external link) — Domain Name Commission

Step 6ii: Reserve your company name

If you decide to structure your business as a company you need to reserve your company name with the Companies Office — it’s low cost, quick and easy. You'll need a RealMe login. You must use the name to incorporate your company within 20 working days of reserving it.

Reserving company name (external link)  — Companies Office

Step 6iii: Check for trade marks

Get an initial assessment report from the Intellectual Property Office (IPONZ) before you invest in applying for a registered trade mark. Do this by applying online for a search and preliminary advice (SPA) report on the IPONZ website. It’s low cost, easy and you’ll get it within five days. You can also search the trade mark register for free.

You'll need a RealMe login.

Search and preliminary advice (external link) — IPONZ

Trade mark register (external link) — IPONZ

Did you know:

• Before registering, make sure your business name has been given the green light from your IPONZ SPA check.

7. Look into regulations

Specific regulations might apply in your industry or region. For example, fair trading, consumer guarantees, privacy, health and safety, food licensing, and music licensing. Look into which central and local government regulations apply to your business. Our website is a good starting point. You can also search central government regulations tailored to your industry on our Compliance Matters tool.

Compliance Matters

8. Register your company

If you've decided to structure your business as a company then register online with the Companies Office — it’s low cost, quick and easy. You'll need a RealMe login.

Start a company (external link) — Companies Office

Did you know

• You can register for GST at the same time as you register your company.

9. Register for GST

Register online with Inland Revenue.

You'll need to register for GST if you're earning more than NZ$60,000 each year.  You can register for GST at the same time you register your company.  If you don't or if you're another type of business you can do it online at ird.govt.nz (external link) . It's quick, easy and free.

GST (external link) — Inland Revenue

10. Register your trade mark

A registered trade mark is the best way to protect your brands in the marketplace. You can use your SPA check to begin your application online with IPONZ. It’s quite quick and easy, low cost for a high level of protection. You'll need a RealMe login.

Trade marks (external link) — IPONZ

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How to write a business plan

Writing a business plan will help nail down your idea and give you a blueprint for executing it.

What is a business plan?

A business plan describes your product or service, identifies who the customer is, explains why they need your product or service, and shows how you’ll make money from that opportunity.

Why write a business plan

How you write a business plan will depend on what you need it to do. There are a couple of key jobs a business plan can have. It can:

• explain a business idea
• convince lenders or investors to put money behind that business idea

It doesn’t take a book to do the first job. You can write a business plan that’s short, to the point, and easy to update. That may be all you ever need. But if you’re going for funding, your business plan will need to be a good deal longer and more comprehensive.

Why every business should start with a one-pager

Even if you will eventually write a long business plan, a one-pager is a great place to start. It could take as little as an hour to do your first draft and will make your idea stronger. Writing about customers, competitors, income and expenses will help develop your thinking.

How to write a one-page business plan

You’ll see in the example below that there are nine sections, or things to write about. So give yourself just a small space to write about each. Keeping it short will help you focus on what’s important.

Download a one-page business plan template.

When you need a longer business plan

The greater the risk you’re taking, the more comprehensive your plan should be. For instance, you’ll need to write a long-form business plan if you’re going to fund it with other people’s money. Banks and investors will expect it.

How to write a longer business plan

Long-form business plans touch on all the same things as a one-pager, but they go into more detail and contain fewer assumptions.

Back-of-the-napkin numbers are replaced by forecasts and budgets. And guesstimates for things like costs, market size, customer preferences, and competitor weaknesses need to be backed up with proof. It’s a good idea to involve an accountant or bookkeeper in developing the budgeting and finance sections.

Contents of a business plan:

• Executive summary: A short summary of the main points of your business plan. Write it last.
• Company overview: Identify your industry, what you’re selling, and how you’ll charge.
• Products or services: Include a description of the problem you’re solving for customers.
• Market analysis: Describe your target market, and examine the competition.
• Risk assessment: Flag potential hurdles (including assumptions that could be proved wrong).
• Marketing and sales plan: How will you find customers and make sales? How many sales will there be?
• Milestones: What needs to happen and when?
• Progress reporting: When and how will you report against the milestones?
• Team: Who will be involved in the business? Note their skills and responsibilities.
• Budget: Estimate your costs and income (and any debt that you plan to take on).
• Finance: Show how you’ll fund the business.

You can also add an appendix with any supporting or background documents.

Make a start by downloading our free business plan template.

How not to write a business plan

Avoid these common business planning mistakes:

• Underestimating how much money it will take to get started
• Failing to budget for the first few months of operation (before revenues start flowing)
• Expecting sales to ramp up too fast
• Relying too heavily on one or two customers (or suppliers)
• Not including contingencies for unexpected delays or costs

For more information, visit the MBIE page on writing a business plan , which comes complete with templates to help get you started.

Xero does not provide accounting, tax, business or legal advice. This guide has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business or before taking action in relation to any of the content provided.

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Planning your business

How to write a simple business plan

This step-by-step guide describes why a business plan is so important, the key elements, and how to write an effective plan for your business.

In this article

The purpose of a business plan.

A business plan involves answering some key questions about your business:

• Your objectives – where do you want your business to go?
• Your tactics – how will it get there? 
• Your budget – what will it cost?

There’s no one set way to write a business plan. The trick is to keep it short and simple. 

How to create an effective business plan

Create a simple, yet effective business plan: from setting SMART objectives to conducting a SWOT analysis, understanding your customers to marketing strategies.

Why you need a business plan

A business plan gives you direction, challenges you to really think through your ideas, helps you prioritise scarce resources, and builds your credibility.

In fact, having a business plan can mean the difference between success and failure. Research published in the Harvard Business Review shows that start-up businesses with a written business plan were 16% more likely to succeed than those without one — .

Getting started

Our business plan template makes it easier to write your business plan. It breaks your plan down into sections, with tips and examples at each stage. You can enter information as you go and save your plan to print out and update later.

Below we’ll explain the key information you should include in your business plan, using the structure in our template as a guide.

Executive summary

Think of this as your ‘elevator pitch’. Imagine you’re in an elevator with someone you want to invest in your business, and you only have until the elevator gets to their floor to convince them. You need to get straight to the point and describe what your business (or business idea) is about in no more than three or four short paragraphs.

People usually write this section last once they’ve thought through all the other aspects of their business plan.

Your business goals and objectives

Write down where your business is going and what you want to achieve. Your objectives should be realistic, otherwise you’ll lose motivation. 

They should also be SMART:

• S pecific – if the goal is too general, you will lose focus
• M easurable – so you can tell whether you’re on track or need to make changes
• A chievable – large goals can seem daunting, so break them down into smaller steps
• R elevant – your objectives should directly contribute to your overall business goals
• T ime framed – having a deadline provides urgency and focus.

Examples of SMART goals might include:

• Financial – to achieve turnover of $x and profits of $y by the end of the financial year.
• Strategic – to gain two corporate customers by the end of the year.
• Operational – to increase productivity by 20% by the end of the second year.
• Sales – to increase e-commerce sales by 10% by 1 June next year.

Once you’ve established your goals, identify who is responsible for achieving them.

Your products and services

Describe exactly what you’re offering, the key features of your products or services, and how they compare with what your competitors are offering. 

Pricing is key. Consider and explain how you’ll price your offering. This figure shouldn’t be plucked out of thin air – it should be based on solid research.

SWOT analysis

A SWOT analysis outlines your:

• Opportunities 

This helps you compare your business against your competitors, build on your strengths and opportunities, and mitigate your weaknesses and threats.

When you’re doing your SWOT analysis think about both internal factors (such as staffing) and external factors (like market or demographic trends). Above all, be honest.

This is also a good time to think about your competitive advantage. Determine why customers should choose your business over competitors. Are you competing on price, service, aftersales support, unique knowledge and expertise, or a distinct brand proposition? It’s important to be aware of your competitive edge, as your customers will not know if you don’t know either.

Your target customer

Who are you targeting your products or services at? How old are they, where do they live, and what are their interests? Understanding your customer will help you shape your products and marketing in a way that is most likely to reach them and appeal to them.

Your marketing strategy and sales planning

Consider how you will promote your business and what you offer. Will this be through advertising, direct marketing, social media, PR campaigns, or a combination of these methods? Determine how they can buy from you, such as online, through distributors, or at your own retail outlet.

Set some sales targets and develop a strategy to achieve them. For example, decide if you’ll focus on selling to new customers, or increasing sales to existing customers. Determine if training your staff in new sales methods is required. 

Set a budget for achieving your sales plan and be clear about how you’ll measure success.

Assets and equipment

Determine what assets or equipment you will need to get your business up and running, and keep it operating. These one-time expenses are also known as capital costs, and include purchases of buildings, land, vehicles, machinery, and equipment.

Financial forecasts

Your financial forecasts are one of the most important parts of your business plan. They show how much money you need to make to cover your operating expenses and make a profit. They’re also critical if you’re approaching investors. 

At a minimum, your business plan should include a cash flow forecast and a balance sheet forecast. Your accountant or an ANZ Business Specialist can help you review your financial assumptions and help ensure they’re realistic.

Your human resources (HR) policies

Great people are key to the success of any business. How will you attract, train, retain, and reward the right people – and ensure you get the best from them?

Reviewing and updating your business plan

No market stays the same – your business will face different challenges and opportunities over time. That’s why it’s essential that you regularly review and update your business plan. Annually is a good rule of thumb.

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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Calculate your cash flow forecast with our simple template. This will help you understand how much cash you have coming in and going out of the business each month and can be a good indicator of the need for an overdraft or other lending.

Break-even point calculation

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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.

Please talk to us if you need financial advice about a product or service. See our  Financial Advice Provider Disclosure Statement (PDF 44.6KB) .

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