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Starting your own business can be an exciting time, but there are many things to consider before you start. Investing time in proper planning is important to ensuring you have a successful business.
Whether you have an idea for a new business, have bought a business, or are looking to expand an existing one you may need one or more permits to get your business up and running. Visit Business Permits for further information.
It’s not mandatory to have an Australian Business Number (ABN), but there are a few good reasons why you should. Having an ABN allows you to:
facilitate a single Business Activity Statement (BAS)
confirm your business identity to others when ordering and invoicing
avoid Pay as You Go (PAYG) tax on payments you receive
claim Goods and Services Tax (GST) credits
claim energy grants credits
obtain an Australian domain name.
Visit the Australian Business Register to register your new business for an ABN.
You will generally need to register a business name if you carry on a business or trade within Australia and you are not trading under your own name. Visit the Australian Securities and Investments Commission to register your business name.
Council offers a range of workshops and business events throughout the year that may assist you during your start-up. You can also subscribe to Council’s bi-monthly Business eNewsletter.
A few helpful online resources you can access during a new business start-up are listed below.
Business Victoria offers information and advice on business start-ups including:
how to write a business plan
choosing the right business structure
finding the right insurance
starting a home-based business
buying an existing business or franchise, and more.
The Australian Competition and Consumer Commission (ACCC) offers information and advice for new business start-ups about:
advertising and selling
managing online reviews
business rights and protections
treating customers fairly, and more.
The Australian Taxation Office (ATO) offers information and advice for new business start-ups on:
choosing your business structure
setting up your invoicing, payments and records systems, and more.