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.

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