Business Startup Checklist

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Starting a business can involve more than you think. Here are a few things you might not have considered when costing your business.

Your first steps are to:

Apply for an ABN if applicable

Apply for a business TFN

  • Register for GST and PAYG, if applicable
  • Open business bank accounts

Register your business name

If you are going to call your business anything other than your own name then you’ll need to register it.
Register your business name in each state you will be trading in. If your business is a company then register also with ASIC

What business structure is best for you

Register your domain name

Next you should consider these costs:

  • Computer / Software / Office Appliances
  • Stock costs
  • Bookkeeping / Software
  • Wages
  • Rent
  • Web design
  • Web hosting
  • Legals / Licences
  • Registration
  • Domain Name
  • E-commerce costs
  • Bank fees
  • Advertising costs
  • Insurances

You must take into account these costs when costing your products or services. Your profit margins will suffer if you neglect this.

Government Start Up Tips

Managing a Small Business in Australia (Click the image for more detail)

The Complete Handbook

By John English, Babette Moate

Managing a Small Business in Australia: The Complete Handbook

This handbook explains how to run your own business. Discover what it takes to get started, where you can go for help, how to generate sales, how to plan your operations and how to handle your finances. If you want to start your own business, this book will be your guide. If you are already in business, this book will help you refine your operation and maximise your profits.

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