andy170773

hello
hoping someone can help, i have a business idea that i am sure would be fantastic, but have never done anything like it before, especially not in australia. how do i start??? would i be able to get a small business loan over here with no capital?? have been gathering as much info on product and looking in to how viable it would be here, and i am aware that i need to set up a business plan, just dont know if all that would be enough to convince a bank to loan me money!!! anyone else tried this???

ridds

First start with the government department of State Development (or equivalent) in whichever state you are going to be living in. A simple google search for 'state development queensland' for example should bring their web address up. They will be able to advise about getting yourself set up, licences etc etc.

You should also write up a business plan - for yourself as much as for the bank. You can download free sample business plans from bplans. Looks daunting and time consuming but it is effort well spent, especially if it saves you investing loads of money in a product or idea that isn't going to work.

Re the bank, different banks will probably give you different answers. Be prepared for a lot of knockbacks and just keep trying. Whether they will lend you money without you putting in any capital will depend very much on the strength of your business plan.

Moonwalker

Hi There, regarding the business loan from the bank, no bank will entertain you with a business loan unless you have fixed assets i.e. a property to secure against the loan. I have tried this route. look on the www.sbdc.com.au
this site will give you all the information you need. good luck