Business Plan - having a business plan in place before you commence trading is a necessary tool in working out your objectives and goals and helping you stay on track.
What is your business name? And is this available? Before registering, check the national name register for availability.
ABN and GST. Register for an ABN and determine if you need to register for GST
Setup a business bank account and designated credit card - this is the best way to keep an accurate account of your business transactions and enables easier reconciliation at quarter and year ends
Does your business qualify for any grants or small business loans? Grants can assist with set up costs and thus are worthwhile investigating. Checkout Business Grants Australia
Insurance - it is important to know what insurance you require when you start up a new business and imperative that you have the correct insurances in place before commencing trading.
Recording of information - work out what software package is best for your business size and budget to accurately record all your income and outgoings and, if registered for GST, to correctly record GST paid and collected for Business Activity Statement (BAS) compliance purposes.
Stationery and Printing - if you are on a tight budget there are a number of options including online and overseas companies with competitive prices. They also include website design.
Seek Out Help and Support - if you have never run a business before, seek advice from your accountant and join networks which provide assistance. Motivating Mum is a site dedicated to Mums in business which provides tips and support free and at a minimal cost.
Starting up your own business needs a lot of focus and dedication to successfully pull it off. Also, if you are trying to look for ideas or solutions for a good field of work, there are a lot of places you can find one, or sometimes, ask yourself on what does people want. For example, customer service is getting more and more popular as of these days, and you can easily start it up on your own, since hosted PBX providers are willing to help you out on getting it on the road.
ReplyDelete