So, you’ve come up with an idea for your startup. Maybe it’s an app that simplifies something everyone hates doing. Or a platform that solves a niche problem in a big way. Or maybe it’s a service that brings AI, automation, or some other emerging tech to an old-school industry. Whatever it is, it has potential.
But no matter how groundbreaking or exciting your idea feels, turning it into a successful business takes more than passion and code. You need clarity. You need structure. And most importantly, you need a business plan.
Whether you’re launching in Australia or the UK, a strong business plan isn’t just a formality; it shows you’re serious. It helps potential investors, partners, and team members understand your vision. And it forces you, as a founder, to face the hard questions before you’re knee-deep in development or fundraising.
Why Bother with a Business Plan?
You’ve probably heard startup wisdom like “just start” or “move fast and break things.” And while there’s value in momentum, skipping the planning stage often leads to expensive course corrections later on. A solid business plan gives your startup a centre of gravity and helps you make smarter decisions when things inevitably get chaotic. Let’s get started.
Government Grants for Tech Startups in Australia
- Grants up to $250,000 for early-stage commercialisation projects and grants up to $5 million for commercialisation and growth projects for businesses to grow their operations.
- Ideal for tech startups that already have a proof of concept and are ready to commercialise.
- While technically a rebate, not a grant, it offers significant refunds for eligible R&D activities—up to 43.5% back for eligible startups.
- Helps offset the costs of building prototypes, running experiments, and software development.
Business.gov.au Grants and Programs Finder
- A searchable directory of local, state, and federal programs, including funding, advisory services, and accelerator support.
- Filters available for industry, location, and business size.
- Provides matched funding of $10,000 to $50,000 for startups engaging in R&D with the Commonwealth Scientific and Industrial Research Organisation (CSIRO).
- Ideal for deep-tech or science-based startups.
Government Grants for Tech Startups in the UK
- Offers a wide range of grant competitions for early-stage innovation and scaling tech solutions.
- Part of UK Research and Innovation (UKRI), this is the go-to source for tech funding in areas like AI, health tech, and clean energy.
Smart Grants (via Innovate UK)
- Competitive grants for disruptive ideas across any sector.
- Offers up to £2 million, depending on the stage and scale of your project.
Seed Enterprise Investment Scheme (SEIS) & Enterprise Investment Scheme (EIS)
- Not grants, but generous tax reliefs for early-stage investors, making it easier to attract private funding.
British Business Bank Start Up Loans
- Offers government-backed loans of up to £25,000 with fixed interest, along with free business mentoring.
- Easier to access than venture capital or grants for brand-new startups.
Gov.uk Business Finance and Support Finder
- A searchable directory of all UK grants, loans, and support schemes from both local and national sources.
- Includes region-specific opportunities in Scotland, Wales, and Northern Ireland.
Knowledge Transfer Partnerships (KTPs)
- Grant to fund collaborations between startups and universities.
- Helps fund a graduate to lead a strategic innovation project.
Catapult Centre Co-Funded Projects
- R&D grants offered through sector-specific Catapult hubs.
- Support tech development in areas like AI, energy, and space.
Local Enterprise Partnership (LEP) & Growth Hub Grants
- Regional grants for innovation, job creation, and growth.
- Varies by region; found through Growth Hubs or LEP websites.
Horizon Europe (via UKRI Guarantee Scheme)
- EU grant funding for collaborative R&D and innovation.
- UK tech startups remain eligible through a government-backed guarantee.
Map out your next 6 to 24 months in a way that feels real. Think of it as your personal playbook that grows and adapts alongside your company.
What to Include in a Tech Startup Business Plan
1. Executive Summary
This section gives a quick, high-level look at your startup. Think of it like your elevator pitch in writing – short, punchy and to the point. Most founders leave it for last (and you should too), since it’s easier to distill your idea after everything else is mapped out.
What you should cover:
- A simple one-liner that explains what your business does.
- The main problem you’re solving.
- Who your target customers are.
- How you plan to make money.
- A quick snapshot of your team.
- How much money you need and what you will do with it.
If someone only read this part, would they get the gist? That’s the goal.
2. Your Product or Service
This is where you unpack what you’re actually building. Avoid jargon and don’t get lost in listing every feature or spec. Instead, walk the reader through the user’s pain points and how your solution makes things better.
Be sure to cover:
- What your product does in everyday language
- Who benefits from it and how
- What makes it different from competitors
- Whether you’re doing something totally new, or just doing it better, faster, or more affordably
Real-World Example:
Take Splend, a company featured by Hyper. Instead of just renting cars to Uber drivers in Australia and the UK, they added insurance, registration, business tools, training, and discounts. That kind of strategic thinking helped them raise £6 million and build long-term loyalty.
3. Your Target Market
Being vague here is a common rookie mistake. “Everyone can use this” sounds ambitious, but it usually signals a lack of focus. Early-stage startups need to start with a clear beachhead market, a specific group you’re building for first.
Break it down:
- Who exactly are your early users or customers?
- What’s the size of your Total Addressable Market (TAM)?
- What’s currently available to this group? Are you replacing something? Improving it?
- Are there underserved segments or outdated solutions you’re disrupting?
Need data? Use business.gov.au or the Australian Bureau of Statistics (ABS) for Australian figures. In the UK, the Office for National Statistics (ONS) is your go-to. Platforms like Statista or IBISWorld are excellent for market insights that investors want to see.
4. Your Business Model
In plain terms: how will your startup make money?
Investors don’t expect perfect predictions. But they do want logic, structure and a clear sense that you’ve thought this through.
Common revenue models for tech startups include:
- Monthly or annual subscriptions (e.g., SaaS platforms)
- Transaction fees (take a percentage from every sale or booking, just like most marketplaces do)
- Freemium models with paid upgrades (offer a basic version for free, then charge for premium features)
- Usage-based pricing (common in cloud or API-based products)
- Licensing your product (especially for enterprise tools)
Mention your pricing, expected customer volume, and key financial milestones. Be transparent about when you think you’ll break even or hit your first major revenue target. If you’re raising capital, be explicit: how much do you need, what will you use it for, and what results do you expect? Include revenue and cost projections for the next 12 to 24 months. They don’t need to be complicated
5. Go-to-Market Strategy
Even the best product can fail if no one hears about it. Your go-to-market (GTM) strategy outlines how you’ll reach users, get them to try your product, and keep them coming back.
Think about:
- What marketing channels you’ll focus on first (content, ads, influencer campaigns, PR, etc)
- Who your early adopters are and where to find them
- What the user journey looks like from discovery to purchase
- What success looks like (e.g., retention rates, customer lifetime value, referrals)
If you’ve already launched a beta, built a waitlist, or scored your first 100 users – mention it! Early traction helps build trust and momentum.
6. The Team Behind the Startup
Investors often say they invest in people, not just products! Markets change. Competitors copy. But a great team can adapt and keep going.
Include:
- Your core team: who they are, what they bring to the table
- Why you’re uniquely positioned to solve this problem
- Any advisors, contractors, or strategic partners
- Gaps you still need to fill and how you’ll find those people
If you’re a solo founder, that’s okay. Just show awareness of what skills you’ll need to bring in and when.
7. Financial Projections
This section can feel daunting, especially if numbers aren’t your thing. But don’t skip it – this is where your idea starts to feel real to potential backers.
You’ll want to include:
- 12 to 24 months of projected revenue and expenses
- Estimated cost of development, launch, and marketing
- Your current runway (how long your cash lasts) and monthly burn rate
- Capital requirements and a use-of-funds breakdown
- Key assumptions like pricing, customer acquisition cost (CAC), churn rate and lifetime value (LTV)
You can use tools like LivePlan or Smartsheet to build polished financial models, but a solid spreadsheet is also perfectly acceptable.
8. Appendix & Supporting Documents
Use this section to provide backup for your claims or add details that don’t belong in the main body.
Possible items:
- Product mockups or wireframes
- Detailed market research or data sources
- Your pitch deck or investor presentation
- Testimonials from early users or pilot testers
- Your product roadmap or timeline
Just keep it lean. Everything in your appendix should strengthen your case.
Common Pitfalls
Writing like you’re on stage at a TED Talk – keep it real and grounded. Investors and partners want straight answers. Write like you’re having a conversation.
Saying there’s “no competition” – there always is! Even if you’re doing something totally new, people are still solving the problem in some way.
Hiding your revenue model until the end – don’t. People need to know early on how you plan to make money. If they have to dig for it, they might assume you don’t have a plan.
Using vague market stats with no source – throwing out stats like “a $10 billion market” without backing them up makes you look unprepared. Use real data from credible sources: government sites, industry reports, or research firms.
Pretending your team is perfect – nobody has the perfect team right out of the gate. If you’ve got gaps, be honest about them and explain how you plan to fill them.
Final Thoughts
Writing a business plan can feel like a lot, especially when you’re still figuring things out. It’s easy to get stuck thinking it needs to be perfect before you share it with anyone. But the truth is, it doesn’t. What matters most is that it’s real.
This isn’t about impressing people with big words or acting like you have everything figured out. It’s about showing that you’ve thought things through. That you’ve looked at your idea from different angles. That you know what you’re working toward and where the gaps still are.
Don’t be afraid to say, “We’re still testing this,” or “We don’t know yet, but here’s how we’re finding out.” That kind of honesty goes a long way. Investors, advisors, and future team members are all human too. They know no startup has all the answers.
