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Startup a NDIS Business in Newcastle!

NDIS Business in Newcastle?

Small Business Accountants

A Step-by-Step Guide to starting your new business!

Starting a business in the National Disability Insurance Scheme (NDIS) can be a rewarding and fulfilling way to provide support and services to individuals with disabilities. The NDIS is a government-funded program that provides funding for support and services to eligible individuals with a disability, helping them to live more independently and participate in the community.

Newcastle, a city located in the Hunter region of New South Wales, Australia, has a vibrant and supportive community for businesses in the NDIS. With a growing population and a high demand for NDIS services, Newcastle offers a great opportunity for entrepreneurs looking to start a business in this field.

This article will explore the main steps involved in starting an NDIS business in Newcastle. We will cover market research, business planning, and funding options and provide tips and resources for success in this growing industry.

Whether you are a seasoned entrepreneur or new to the NDIS sector, this article will provide valuable insights and guidance to help you navigate the process of starting an NDIS business in Newcastle.

NDIS Application Documents are required to be prepared

NDIS Financial Forecast Documents – First 24 Months: 

As part of your NDIS Application, you must prepare critical financial documents for your planned or forecast 24 months. Please note your Business Banker or Mortgage Broker will require these documents to assess any or the possibility of obtaining a loan for business funding. Financial Viability Assessment.

  • Financial Forecasts: These documents outline the financial performance of the business over the first two years of operation, including estimates of revenues, expenses, and profits.
  • Operating Budget: An operating budget is a detailed projection of a company’s expected expenses and revenues for a specific period, typically one year. It helps the company plan for its financial needs and allocates its resources accordingly.
  • CAPEX (Capital Expenditure Budget): A capital expenditure budget is a financial projection of a company’s planned expenditures on long-term assets, such as property, plant, and equipment. These assets are typically expected to have more than one year of useful life.
  • Profit & Loss: A profit and loss statement (also known as an income statement) is a financial document that shows a company’s revenues, expenses, and profit over a specific period. It helps the company understand its financial performance and identify areas for improvement.
  • Balance Sheet: A balance sheet is a financial document that shows a company’s assets, liabilities, and equity at a specific point in time. It helps the company understand its financial position and make informed decisions about its financial resources.
  • Cashflow: A cash flow statement is a financial document that shows the movement of cash into and out of a company over a specific period. It helps the company anticipate and plan for potential cash shortages or surpluses.
  • Wages Budget: A wages budget is a financial projection of a company’s expected wages and salary expenses over a specific period. It helps the company plan its labour costs and allocate its resources accordingly.
  • Superannuation Budget: A superannuation budget is a financial projection of a company’s expected contributions to its employees’ superannuation accounts over a specific period of time. It helps the company plan for its superannuation obligations and allocates its resources accordingly.

NDIS Business Plan (Full) – Sections required in an NDIS Business Plan 

Important as part of the NDIS Application, the NDIS Commission, NDIS Auditor & assessor will require you to complete a detailed business plan. The objective is to show the NDIS officials that you & the business have considered the financial viability of the business & assessed business risks.

  • Executive Summary: This is a brief overview of the key points of the business plan.
  • Company Description: This section provides more detailed information about the company, including its history, ownership, and team.
  • Market Analysis: This section should include research on the target market, competitors, and industry trends.
  • Products and Services: This section should describe the products or services that the company offers and how they meet the needs of the target market.
  • Marketing and Sales Strategy: This section should outline the marketing and sales efforts that the company will undertake to reach its target market and achieve its sales goals.
  • Financial Plan: This section should include financial projections, including a profit and loss statement, balance sheet, and cash flow statement.
  • Operations: This section should describe the day-to-day operations of the business, including the management structure and key personnel.
  • Risk Assessment: This section should outline any potential risks to the business and describe how they will be managed.
  • Appendices: This section should include any additional information that supports the business plan, such as resumes of key personnel, letters of reference, and copies of contracts.

NDIS Procedures, Systems & Safety:

These are the policies, procedures, and systems in place to ensure the safety and well-being of individuals with disabilities, as well as the safety and compliance of the business.

  • Risk Management Policy: A risk management policy is a document that outlines the principles and approaches that a business will follow to identify, assess, and manage risks.
  • Risk Management Policy & Procedures: These are the specific procedures that a business will follow to implement its risk management policy.
  • Risk Assessment Matrix: A risk assessment matrix is used to evaluate the likelihood and potential impact of identified risks. It helps the business prioritize and allocate resources to manage the most significant risks.
  • Risk Register: A risk register is a document that lists and tracks the identified risks facing a business. It should include the risk description, likelihood of occurrence, potential impact, and risk management actions.
  • Risk Register Forecast: A risk register forecast is a projection of the risks the business expects to face over a specific period. It helps the business plan for potential risks and allocates resources accordingly.
  • Work Health and Safety Policy & Procedures: These are the policies and procedures a business follows to ensure the health and safety of its employees and others in the workplace.
  • Complaints Policy & Plan: A complaints policy and plan outline the process a business will follow to receive, investigate, and respond to complaints from clients, employees, and other stakeholders.
  • Incident Management Plan: An incident management plan outlines the steps that a
  • SWIM Documents: SWIM stands for “Support Worker Induction Manual.” These documents provide information and guidance to support workers on the policies, procedures, and systems in place to ensure the safety and well-being of individuals with disabilities.
  • Human Resource Management Plan: A human resource management plan outlines the strategies and actions that a business will take to attract, retain, and develop its human resources.
  • Human Resources Policy: A human resources policy is a document that outlines the principles and practices that a business will follow in managing its human resources.
  • Procedure Manual: A procedure manual is a document that outlines the specific steps and processes that a business will follow to carry out its tasks and operations.
  • Letter of Offer of Employment: A letter of offer of employment is a document that outlines the terms and conditions of employment offered to a job candidate.
  • Recruitment Policy: A recruitment policy is a document that outlines the principles and practices that a business will follow in attracting and selecting job candidates.
  • Employment Agreements: Employment agreements are legally binding documents that outline the terms and conditions of employment between an employer and an employee.
  • NDIS Code of Conduct: The NDIS Code of Conduct is a set of standards and expectations that NDIS providers must adhere to in their dealings with clients and stakeholders.
  • Infection Control Documents: Infection control documents are policies and procedures that a business follows to prevent the spread of infection in the workplace.
  • Code of Ethics: A code of ethics is a set of principles and values that guide the behaviour of individuals within an organization.
  • Checklists as required: Checklists are lists of tasks or items that a business will follow to ensure that it is meeting its obligations and complying with regulations.

NDIS Application. 

  • All documents required.
  • Organise &. Lodge documents are required for the Audit.
  • Draft the NDIS Application for the services.
  • Lodgement to the NDIS Commission

The next step will be the NDIS Audit

  • Facilitate the NDIS Audit
  • Submit all documents with the Audit.
  • Process all the required changes resulting from the NDIS Auditor.
In conclusion, starting an NDIS business in Newcastle can be a rewarding and fulfilling way to provide support and services to individuals with disabilities. By following the steps outlined in this article, including conducting market research, creating a comprehensive business plan, and exploring funding options, entrepreneurs can set themselves up for success in this growing industry.

With its supportive community and high demand for NDIS services, Newcastle is an ideal location to start an NDIS business. By taking the time to plan and prepare properly, entrepreneurs can set their businesses up for success and make a positive impact on the lives of individuals with disabilities.

Expert NDIS Accounting, Tax & Financial Services

Explore our comprehensive range of NDIS professional services tailored to meet your specific needs:

  • Accounting: Streamline your financial management with our efficient and secure cloud accounting solutions.
  • Bookkeeping: Stay organised and on top of your finances with our trusted bookkeeping services.
  • Taxation: Ensure compliance and optimise your tax position with our expert tax planning and preparation services.
  • Budgets & Forecasting: Develop realistic budgets and financial forecasts to drive your business forward.
  • Payroll Processing: Let us handle your payroll processing, including tax withholdings, benefits, and deductions.
  • Financial Planning: Receive expert financial planning advice to make the most of your assets and secure your future.
  • Superannuation: Access a range of superannuation services, including accounting, administration, and taxation.
  • Business Accounting: Get strategic advice on financial management, investment decisions, and mergers/acquisitions.

Why Choose Bottrell Accountants & Financial Advisors?

  • Over three decades of experience.
  • Personalised service tailored to your needs.
  • Expertise across accounting, taxation, financial planning, and more.
  • Dedicated team committed to your financial success.

Contact us at @ Newcastle Accountants

If you’re looking for an experienced accountant and tax adviser in Newcastle, please don’t hesitate to contact us at 0249336888 or by email at office@bottrellaccounting.com.au.

We’re here to help you succeed.

  • Newcastle Office: 1300 788 491 | newcastle@bottrellaccounting.com.au
  • Maitland Office: 02 4027 5782 | maitland@bottrellaccounting.com.au

Contact us today to learn more about how we can assist your business.

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