Starting a new businessYou'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.- Buy or lease business premises
The location of your business can be an important factor in its success. So you should carefully assess what's the right environment for your business. - Order & purchase stock
Efficient stock control is having the right amount of stock in the right place at the right time. - Arrange insurance
It's essential to arrange insurance when you're starting out in business - you should insure your company, your income and your commercial risk. - Set up record keeping & accounting systems
It's a legal requirement for you to keep records of your business transactions for a minimum of five years, so it's important that you have good record keeping practices in place. - Hire staff
Good employees can be your greatest asset, so recruiting and retaining the right person is important.
- 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.
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