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Starting a business

Ready to start? Here's information on starting a new business, a home-based business and buying a business or franchise.

Starting a new business
You've decided to go into business, completed your market research and written your business plan. Now you're ready to take the next step, but where do you begin when starting a new business?
- How can I get advice & support?
  You can take advantage of a broad range of advice and support offered by the Australian Government.
- How do I make my business more innovative?
  Innovation is not just about inventions. It's about new ideas and responding to new trends and market conditions, or improving existing products and services.
- How do I manage my finances?
  Good financial management is critical to the ongoing success of your business.
- How can I find a business loan?
  Choosing the right kind of business finance can be difficult. Banks and other lenders offer a range of business loans including overdrafts, lines of credit and fully drawn advances.
- What are my taxation obligations?
  Understanding your taxation obligations is important when starting up a new business. Various federal, state and local government taxes and rates can apply, depending on the size and location of your business.
- What are the legal requirements?
  One of the first things you need to find out when you're starting out is what laws apply to your new business.
- What do I need to register for?
  The type of business you conduct determines what you need to register for.
- How do I set up operations
  Setting up your business operations involves many different aspects.
- What licences & permits do I need?
  It's important for you to find out the licensing requirements that apply to your new business.
- How do I promote my business?
  How to promote your business through marketing, advertising and networking.
Starting a home-based business
People intending to use their home as a place of business often have to comply with particular state, territory and local government regulations.
Starting as an independent contractor
The new independent contractors law could possibly affect your tax, occupational health and safety and other obligations.
- How do I determine my status?
  It is possible to be an employee for some work and a contractor for other work.
- What are my taxation obligations?
  As a contractor, you may have to pay tax at a different rate to employees.
- What are my employment entitlements?
  Find out what your entitlements are for superannuation, OH&S and workers compensation.
- How is my intellectual property affected?
  Although you may have contributed to or created material, products and ideas as a contractor, you may not be entitled to intellectual property ownership such as copyright.
Buying an established business
If you plan to buy an existing business, carefully analyse both the advantages and disadvantages.

Murdoch Business School

Starting a business