Starting a Business
Planning on starting a company? This is what most people think starting a business is all about, but ultimately a business can be operated via a variety of different structures including a company. Discussed within our site you will find details on the myriad of structures available to get an understanding of what is possible for your new venture.
There are many programmes designed to help Australian businesses of all sizes and industries improve productivity and competitiveness, as well as create jobs.
The programmes include incentives for research and development, support for small businesses, tax and duty concessions, and assistance for industries in transition. They support invention and technology development in businesses by fostering collaboration between industry and researchers. All of these tools can be found on the Australian Governments Business website which we can help direct you to.
Starting your own business can be daunting but at the same time very exciting. Normally, new entrants into business are leaving a steady paying job and entering into some uncertainty. With a proper business plan, we can help remove much of that uncertainty as possible by identifying your business strength, weaknesses, threats and opportunities. Once you have decided to take the leap, then there are quite a few steps you need to take, most of which an accountant and/or lawyer can assist with. Some can also be done by yourself as the more you understand the better equipped you will be. Success is the ultimate key so it is crucial to put the time and effort in at the beginning to get it right.
Here are select few to consider:
- Getting the right structuring advice? Absolutely crucial.
- Determine & apply for the necessary registrations with the ATO including an ABN/GST/PAYG/Tax file number
- If employing, obtain a WorkCover policy
- Open a bank account in the correct name
- Register business names
- Complete TFN forms for employees
- Arrange to comply with super streaming
- Having appropriate insurance in place
- Knowing what you want to achieve in your first years and setting targets
- The need for a business/marketing plan
- Research your industry
- Protecting your business name and idea
Pre-planning is the key to the success of your business.
With our extensive knowledge and expertise, we can help you with starting a business. Arrange your free no obligation meeting.