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Murdoch Business School

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.