Starting your own business? Check your numbers with NAB Financial Snapshot. Can you meet the cost of starting a business and ongoing expenses? Is your pricing right? Are your volumes realistic?
What is NAB Financial Snapshot?
If you’re thinking about starting a new small business, NAB Financial Snapshot helps you build a simple estimate of some key financial details – the potential earnings, costs, profit and cash position – for your first year of business.
How does it work?
- Enter the details of the products and services you think you’ll sell and your expected costs and funding.
- We’ll suggest some things to consider to help take your business idea forward.
- Receive an email with your financial snapshot and ask for a NAB small business banker to call you.
Frequently asked questions
What do I need before I complete my NAB Financial Snapshot?
To complete your snapshot you need to have an idea of the products or services you expect to sell and your expected costs and funding; not to mention a passion to succeed. The estimates are based on the information you enter, so the more realistic your numbers are, the more accurate your snapshot will be.
What happens after I complete my NAB Financial Snapshot?
Enter your email address and you will be emailed a summary of your financial snapshot. NAB Financial Snapshot doesn’t allow you to save and retrieve the information you enter for future use. By keeping your summary handy, you can easily refer to it when chatting to your advisers or a NAB small business banking specialist about next steps for your business idea.
How do you use my personal information?
If you want to discuss your NAB Financial Snapshot summary with us, then you can choose to have a copy of it sent to a NAB Small Business specialist together with the personal details you enter so that they can contact you as requested. Our privacy notification explains how we collect and handle your personal information.
Can I apply for a loan using the NAB Financial Snapshot summary?
Unfortunately not, loan applications require much more detailed information than the estimates that you prepare using NAB Financial Snapshot. Call 13 10 12, Monday to Friday, 9:00am to 5:00pm (AEST/AEDT), to speak with a NAB Small Business specialist about your specific lending requirements.
Why hasn't anyone contacted me?
A NAB Small Business banker will only contact you if you request, however if you want to reach us sooner, our small business banking specialists are on hand Monday to Friday, 9:00am to 5:00pm (AEST/AEDT) and would welcome your call on 13 10 12.
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Important information
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If you’re thinking about starting a new small business, NAB Financial Snapshot helps you build a simple estimate of some key financial details – the potential earnings, costs, profit and cash position – for your first year of business.
NAB Financial Snapshot provides indicative guidance only and isn’t a comprehensive business planning tool and we recommend that you obtain appropriate accounting, tax, legal and other professional advice when making decisions about establishing and running your business. The estimates you produce using NAB Financial Snapshot are based on the information you enter and are not a prediction. NAB Financial Snapshot does not account for GST or other potential tax liabilities and any actual outcomes you achieve when you establish your business will be affected by your individual tax and other circumstances and may differ materially from the estimates.
Some figures in the estimates produced are presented on a rounded basis to the nearest whole dollar and, in some instances, may not add due to rounding. Calculations are based on pre-rounded figures.
When you use NAB Financial Snapshot you may, if you want, enter information about your proposed business name, the problem you’re trying to solve, why you want to start your own business and industry. This is only for your own records and this information isn’t used by NAB Financial Snapshot in helping you produce any estimates.
Any advice provided has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice or information, we recommend that you consider whether it is appropriate for your circumstances. If you’re considering any of our financial products, we also recommend that you consider the product disclosure statement or other disclosure document available from us, before making any decisions. Please also view our Financial Services Guide.
Using NAB Financial Snapshot is not an application for, or approval of, any loan or other financial accommodation.
Any links to third party websites are provided for your information only. By providing a link, we’re not endorsing or recommending any products, services or information on a third party website. Also, inclusion of a link to a third party website does not mean that NAB Financial Snapshot or NAB’s products or services are endorsed by the publisher of that third party website.