Opening a Small Business

Ready to start your own small business?

From writing a business plan to applying for a business name, our business banking experts share their tips to support you starting your own small business.

Starting a new business and don’t know what your next move should be? Taking the plunge to start a small business can be both exhilarating and terrifying – especially given the challenges you need to overcome as a start-up.

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Whether you are setting up a business, looking to buy an existing business or planning to grow or franchise an existing small business, writing a business plan is an important step towards achieving your business goals.

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So, you are thinking about starting your own business and you’ve come up with a great name for it. But before you hang your new business name above your door, there’s some important things you need to know about registering a business name in Australia.

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When you are setting up a new business, there are so many things to think about that it can become overwhelming. That’s why we put together this checklist of the most important things you need to do when you are starting a new business in Australia.

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Cashflow problems, financial mismanagement, a lack of business funding and a general misunderstanding of the costs associated with running a small business are just some of the most common reasons for start-up businesses to fail.

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To help give your start-up business the best chance of survival, we’ve asked BOQ’s business banking experts for their insights into the top reasons why small businesses fail and how to avoid becoming one of them.

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When you are setting up a small business, finding the right location for your new business’ ‘home’ can be a time-consuming and costly process.

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Understanding digital marketing can be confusing for many small business owners. But the reality is that having a digital marketing plan can be one of most effective ways for you to attract new customers and grow your business.

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Our small business banking solutions:

Small business bank accounts

$10 FLAT

monthly account fee

Our low fee business bank account

Everyday Business Account

Manage your transactions with ease - all for a low monthly fee.

Free branch, ATM and cheque deposits
Free Direct Debits and Direct Credits
Easy account access through ATM/EFTPOS, Internet and Mobile Banking

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You can earn

4.25 ^{% P.A.^{^^}}

Including 2.90% additional interest rate + 1.35% standard variable rate ¹⁴

ADDITIONAL INTEREST FOR 4 MONTHS ON BALANCES OVER $10,000

Business WebSavings Account

Make the most of your business savings with the flexibility of accessing your money anytime.

Earn additional interest for 4 months as an introductory offer
No monthly account maintenance fees
Unlimited transfers

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You can earn

1.60 ^{% P.A.^{^^}}

Including 1.50% Bonus Interest variable rate + 0.10% variable Base Rate¹⁵

BONUS INTEREST VARIABLE RATE FOR BALANCES UP TO $500,000

Business Performance Saver®

Earn an ongoing, competitive interest rate on your business savings that rewards you for using your linked Everyday Business Account.

Earn ongoing Bonus Interest variable rate when you meet Bonus Criteria
Simply deposit $5,000 or more and do 5 or more eligible transactions on your linked Everyday Business Account
No minimum balance required

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Small business loans and finance

Tailored business financing, designed to expand your service

Business Term Loan

Ready for an unusually good offer for your business? Get up to $10k back on your business lending fees for lending up to $5m*. Includes application, valuation, and legal fees. Switch to the unusually good business bank.

Get up to $10k back on business lending fees for lending up to $5m.*
Loan-to-Value Ratio up to 90%
Loan terms up to 30 years

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Finance your equipment without tying up your cashflow

Equipment and Vehicle Finance

Whether you want to lease your equipment, salary package your vehicle or you're looking for a short-term finance solution to grow your business, we can help with a full suite of funding options.