How to Start a Business in Australia
ASSESS YOUR FINANCES
First create a financial business plan
•Start with a sales forecast. Set up a spreadsheet projecting your sales over the course of three years. Set up different sections for different lines of sales and columns for every month for the first year and either on a monthly or quarterly basis for the second and third years.
•Create an expense budget. You’re going to need to understand how much it’s going to cost you to actually make the sales you have forecast
•Develop a cash-flow statement. This is the statement that shows physical dollars moving in and out of the business. You base this partly on your sales forecasts, balance sheet items, and other assumptions
•Income projections. This is your pro forma profit and loss statement, detailing forecasts for your business for the coming three years. Use the numbers that you put in your sales forecast, expense projections, and cash flow statement. “Sales, lest the cost of sales, is gross margin,” Berry says. “Gross margin, fewer expenses, interest, and taxes, is net profit.”
•Deal with assets and liabilities. You also need a projected balance sheet. You have to deal with assets and liabilities that aren’t in the profits and loss statement and project the net worth of your business at the end of the fiscal year. Some of those are obvious and affect you at only the beginning, like startup assets. A lot are not obvious. “Interest is in the profit and loss, but repayment of principle isn’t,” So the way to compile this is to start with assets, and estimate what you’ll have on hand, month by month for cash, accounts receivable (money owed to you), inventory if you have it, and substantial assets like land, buildings, and equipment. Then figure out what you have as liabilities–meaning debts. That’s money you owe because you haven’t paid bills (which is called accounts payable) and the debts you have because of outstanding loans.
•Breakeven analysis. The breakeven point is when your business’s expenses match your sales or service volume. The three-year income projection will enable you to undertake this analysis. “If your business is viable, at a certain period of time your overall revenue will exceed your overall expenses, including interest.” This is an important analysis for potential investors, who want to know that they are investing in a fast-growing business with an exit strategy.
Do you have access to the funds you are going to need to start a business?
Quite simply do you have the money it is going to take to develop and promote your idea? If not where are you going to get the money? How much is it going to cost?
It is never a good idea to start a business with a high-interest loan or on a credit card. If you must ensure you have done your figures and have worked out you can repay the money within the first 3 months of trading and have another income to support the loan if your figures are wrong. This of course can’t be guaranteed but it is a helpful way of looking at things.
There are a range of places to borrow money but the cheapest and most obvious one is the redraw on your mortgage if you have one. The other although complicated is family.
There are also places online where you can borrow up to $5000 – $1000 with very little security.
UP TO $10,000 ZIPMONEY:- https://zipmoney.com.au
Your business name is the name that your business operates under. It is sometimes known as your “trading name.”
If your business name isn’t the same as your name, you’ll need to register for a business name. This will link your business name and ABN.
For example, John Smith won’t need to register a business name if he runs a business under the name John Smith. However, if he runs his business under any other name (e.g. John’s Cars), he will need to register John’s Cars as his business name.
The Australian Securities & Investments Commission (ASIC) maintains a list of registered business names for you to check that your business name is available before you register.
It’s important to note that registering a business name with ASIC doesn’t protect your business name from being used by someone else. To protect your business name and brand, you will also need to register it as a trademark with IP Australia.
Goods and services tax (GST)
You must register for GST if your business’s GST turnover (gross income minus GST) is $75,000 (2022) or more.
Did you know?
If you’re going to operate your business as a company, you can choose to register for a company name when you register your company. If you don’t register for a company name, your company name will be your Australian Company Number (ACN).
Register your business name with ASIC and apply for an ABN. This can be a little tricky and time-consuming through the government website, but you can apply easily for a few extra dollars.
A business name allows you to trade under that name in Australia. You may also like to check if your name is available as a .com.au domain as well as a business name to make it consistent for your customers.
An ABN is required for you to operate your business. The Australian Business Number (ABN) is a unique identifier issued by the Australian Business Register (ABR), which is operated by the Australian Taxation Office.
What’s the difference between a company registration and a business name? A company is a separate legal entity from yourself personally. A company will have its own ABN and lodge a separate tax return. A business name is a name that an individual or a company trades under. A company may have several different business names operating under the same company.
BUSINESS REGISTRATION GOVERNMENT OVERVIEW:- https://www.business.gov.au/New-to-business-essentials/Series-One/Register-your-business-the-right-way
BUSINESS NAME REGISTRATION:- https://www.bizify.com.au/businessname
ABN REGISTRATION:- https://www.bizify.com.au/abn
GST INFORMATION:- https://www.business.gov.au/New-to-business-essentials/Series-One/Register-your-business-the-right-way#goods-and-services-tax
COMPANY REGISTRATION:- https://www.bizify.com.au or https://easycompanies.com.au
MORE INFORMATION ABOUT COMPANIES:- http://asic.gov.au/for-business/your-business/small-business/starting-a-small-business/small-business-what-is-a-company
CHOOSING THE RIGHT BUSINESS STRUCTURE:- http://asic.gov.au/for-business/your-business/small-business/starting-a-small-business/
Marketing is pretty critical to any business. It doesn’t matter how great your product or service is if no one knows it’s there your not going to make a cent.
What Is Marketing?
We often hear about marketing and when we own a business, we know it’s something we are supposed to do, but what is marketing? There are so many definitions that describe marketing as a small business owner that understanding what it is can leave us confused. We hear about sales, advertising, public relations, and marketing. Is there a difference? There is a difference, and when that difference is understood, it’s easier to understand what tasks should be handled by specific roles within the company and under the specific actions entitled marketing.
Good marketing is critical to the success of any business and understanding what it is will help your small business get started on the right foot.
Why Marketing is Worth the Expense
Many companies view marketing as an expense. The truth is, when a business understands the importance and the role it plays in growing a business, it’s clear why it should be considered an investment.
Marketing is crucial when it comes to gaining the attention of prospective consumers and clients, developing products or services to meet those demands, and turning those prospective consumers into customers. Your marketing has an effect on your sales, pricing, promotions, and advertising strategies. When you understand the importance of marketing, you can use it to promote the ongoing transition of your services and products to the consumer; this can create success in your small business.
Understanding Market Research
Market research helps you to determine how your product or service will be accepted among different demographics. This information can help you establish which segment of consumers will have an interest in your product and services and ultimately end up purchasing from you. You can use market research to gain specific information, such as determining the age group, gender, location, and income level of potential customers that you should target with your marketing message. Market research enables you to create a marketing plan for your small business that is not only effective but also cost-efficient.
Why Marketing Research is Important to Your Business
You’ve done your homework and you’ve invested time in marketing research, so why should you care about marketing research?
There is a difference. Let me explain. Market research gives you the information that you need regarding the market. Marketing research is delving into the behavior and buying habits of a specific segment that you have decided to target and ultimately it saves you money by helping you avoid costly marketing mistakes. Learn why it’s important and how you can use it to create effective marketing strategies for your small business.
What Is a Marketing Plan?
A marketing plan serves as a roadmap when it comes to your marketing initiatives. It details the success route that you will need to follow to get your small business noticed by potential customers. A detailed marketing plan will show you what to do and help you understand why you are doing it. It will also help you navigate away from the marketing and business mistakes that will cost you money, time, and future growth potential. As a small business owner equipped with a marketing plan, you will feel more organized, have more confidence, and have a clearer vision when it comes to your marketing goals. Put in simple terms, a marketing plan increases your chance of achieving the business success that you desire.
Creating a Marketing Budget: How Much Should I Spend on Marketing?
Determining how much of your resources to devote to marketing within your company can be one of the biggest obstacles that businesses face. It can also be a key component that can make or break a business. There are guidelines that will help in allocating your resources. Learn what I recommend when it comes to marketing budgets.
Learn from Others – How I Started Marketing My Small Business Series
Marketing a small business can prove to be challenging at times; especially in rough economic times. However, many companies are finding success by utilizing new techniques to market their small businesses. These strategies may include social media marketing, online marketing, traditional marketing, and even direct mail. I’ve asked my readers to share their stories on how they started marketing their small business in hopes that it will inspire, motivate you and make you think of new ways to market that you had not considered previously. Learn how others started marketing their businesses and share your own story.
How to Persevere With Small Business Marketing Until It Pays Off. It often happens that a small business owner does not persevere with their marketing plan. This happens for various reasons, and small business owners often give up too soon. Learn how to persevere with a set marketing plan and chosen marketing strategies, until it pays off in the end.
FREE COURSES IN MARKETING
FREE COURSES IN ALL ASPECTS OF BUSINESS
The obvious choice PayPal
The great this is there are no monthly fees so you only pay when you make a sale.
How PayPal works
1. Sign up for free https://www.paypal.com/
Then link your bank accounts and cards.
2. Choose PayPal at checkout
Log in with your email address and password.
3. Confirm the payment
Choose your preferred bank account or card and shipping address.
4. We’ll pay the seller
They’ll then fulfill your order. We’ll email you a payment confirmation.
ZIPPAY FINANCE UP TO $1000:- https://zippay.com.au/merchant/
CREATE A LOGO & GRAPHICS
How to Create a FREE Logo with Canva
Create your own logo in Canva tutorials
Every business needs a logo even if it is a simple one. Create your own logo and save hundreds with this free logo maker
FREE LOGO MAKER:- https://www.canva.com/logos/templates/
DESIGNING GREAT ADS
Not Creative? Don’t have the money for a graphic artist? Design great-looking ads for free with no skills required. Canva has easy-to-use templates for everything from your Facebook header to Google ads. They also offer a great library of images you can use to import your own. Most features are available without a subscription.
FREE ADVERTISING COURSES
GET ON SOCIAL MEDIA
How do I create a Facebook Page?
Pages are for businesses, brands, organizations, and public figures to share their stories and connect with people. Like profiles, Pages can be customized with stories, events, and more. People who like or follow a Page can get updates in their News Feed.
Create your Facebook account
The setup process is simple. Follow these steps to get started.
- Go to business.facebook.com/create and select Create Account.
- Enter your name and confirm your identity with Facebook login credentials.
- Follow the prompts to create your business account.
How do I create an Instagram account?
To create an Instagram account from the app:
Download the Instagram app for iOS from the App Store, Android from Google Play Store or Windows Phone from the Windows Phone Store.
Once the app is installed, tap to open it.
Tap Sign Up With Email or Phone Number, then enter your email address or phone number (which will require a confirmation code) and tap Next. You can also tap Log in with Facebook to sign up with your Facebook account.
If you register with your email or phone number, create a username and password, fill out your profile info and then tap Done. If you register with Facebook, you’ll be prompted to log into your Facebook account if you’re currently logged out.
To create an Instagram account from a computer:
Go to https://www.instagram.com/
Enter your email address, create a username and password or click Log in with Facebook to sign up with your Facebook account.
If you register with an email, click Sign up. If you register with Facebook, you’ll be prompted to log into your Facebook account if you’re currently logged out.
If you sign up with email, make sure you enter your email address correctly and choose an email address that only you can access.
If you log out and forget your password, you’ll need to be able to access your email to get back into your Instagram account.
How to create a Business Account on Instagram?
On Instagram, you can convert your personal profile to a business account to access features that can help you grow your business.
Note: you may only have five Instagram accounts at a time.
To switch your profile to a business account:
- Go to your profile and tap in the top right-hand corner.
- Tap Settings.
- For some accounts, the Switch to professional account option will be listed directly under Settings.
- Tap Account.
- Tap Switch to a professional account.
- Tap Continue.
- Select a category for your business and tap Done.
- Tap OK to confirm.
- Tap Business.
- Tap Next.
- Add contact details and tap Next. Or tap Don’t use my contact info to skip this step.
- If you’d like, you can follow the steps to connect your business account to a Facebook Page associated with your business. This step is optional, and will make it easier to use all of the features available for businesses across the Facebook family of apps. At this time, only one Facebook Page can be connected to your business account.
- Tap X in the top-right corner to return to your profile.
With a business account, you’ll be able to access insights that can help you understand who is engaging with your business on Instagram. You’ll also have access to the professional dashboard, where you can track your performance, access and discover professional tools and explore educational information curated by Instagram.
You also have the option to display or hide your business category and contact information on your profile. After setting up, go to your profile and tap Edit profile. Go to Profile display under Public business information to choose whether you want to hide or display your category label and contact info. Then, tap Done.
HOME BUSINESS REGULATIONS
Things to consider before starting a home-based business
If you’re starting a home business, developing a thorough business plan is the best place to begin. To develop your business plan, you need to consider these points about operating from home:
Is your home the best location for your business?
Can you conduct the type of business you want under local council regulations?
What are your legal obligations?
Will your home-based business allow you to balance your work and family life?
What are the town planning requirements of your local government authority?
Don’t be afraid to ask yourself hard questions about your business. It’s much easier to plan for the future than to react to the unexpected.
Meeting government requirements and regulations
Like all businesses, home-based businesses need to register for business and company names, taxation, and other business licenses and permits. Using your home as a place of business may also mean complying with a particular state, territory, or local government regulations.
The impact of your business activities on the surrounding residential area, particularly pollution, energy use, and parking, can all require special permission. Depending on your type of business, you may need special permits relating to zoning, signage, noise levels, or health issues.
Local Council Regulations
Working from home can make sense from both a cost and lifestyle perspective. However, it also calls for thorough scrutiny of the council regulations that may apply to home businesses operating in your area. Find our guide below to understand what is needed before you hang the open sign.
Things to consider before starting your small business from home:
Contact your local council
All councils establish guidelines for the use of private land within their local government area (LGA). As your home–based business will typically be operating in an area zoned for residential use, one of your first steps should be to contact your council’s planning department to see whether your business will comply with local zoning regulations and whether or not you will need any special permits.
While requirements vary between councils, generally home-based businesses don’t need special operating permits if the building you work from is also your primary place of residence. This can change, however, if you employ workers who do not live in your home. A permit may be needed if you hire more than one worker who doesn’t share your home.
Does size make a difference?
The size of your floor area can also affect the nature of any permits you require. Some councils stipulate that the business must not occupy more than 50 square meters, or one-third of the total floor area of your home. There can also be restrictions imposed on running a business out of an apartment.
Parking & Signage
If your home is likely to be a meeting place for customers, your council may request that additional off-street parking be provided at your home, or that a separate entranceway be provided for business clients. Where this is the case, or even if you want to erect any signage, you may have to submit a Development Application (DA), asking for council approval before the necessary alterations are made to your home. Additional information, such as a Statement of Environmental Effects, site plan, and existing and/or proposed floor layout plans may also be required.
Where a Development Application (DA) is required, your council will notify neighbours of your plans to run a business from home. Even when this is not the case, it makes sense to discuss your plans with neighbours to hopefully prevent any friction further down the track.
It’s worth stressing that individual councils set their own regulations, so be sure to check that you comply before hanging out the ‘Open for business’ sign. Relying only on the advice or experience of friends or business contacts could land you in hot water as council regulations are subject to change.
GET ON GOOGLE
How to add or claim your Business Profile on Google
With Google Business Profile, you can:
- Create or get access to a Business Profile on Google
- Add and manage how your business information shows up across Google
Tip: If you would like to receive one-on-one guidance and tailored recommendations about your profile, consider booking an appointment with Small Business Advisors.
Every day millions of people go online to search for businesses exactly like yours – but are you taking the right steps to make sure your website will be found?
How to Make Sure Your Business is Found on Google
Submit Your Site to Google
Search engines crawl the web collecting information to index millions of web pages every day. While your site is likely to be discovered by Google without you doing anything at all, you can speed up the indexing process by submitting your site to Google through this link: https://www.google.com/webmasters/tools/submit-url
Bonus! You can re-submit your site every time you make a change. This will keep Google in the loop about important updates to make sure that the latest version of your site is accurately indexed.
Select the Right Keywords
Keywords are words and phrases that set the tone for your site’s content. They’re generally the most common words that you use in your titles & text to help define what your site is all about. When Google crawls your site, it picks up on those commonly used words, and uses them as ‘keywords’ or content clues to accurately rank your site pages.
The content on your site can make or break whether or not your desired audience will find you. That’s why it’s essential to select the right words and phrases in your website’s content and SEO settings. When writing the content on your site, factors such as location and niche business offerings can play a big part in the exact wording that you’ll want to use.
Use Google’s Keyword Planner to find ideas for the keywords most relevant for your business. The keyword planner is a useful tool for learning what people search for in your area and will allow you to find your own relevant keywords to add to your site’s content. https://adwords.google.com/KeywordPlanner
Once you know which keywords you want to use, integrate them into your site’s titles and text. Make sure they flow naturally within the content and avoid keyword “stuffing”- do not overuse keywords in your text because Google can penalise you for bad practices. With so many factors that go into keyword selecting, you’ll want to do a little extra research to make sure you’ve got it right. This blog post on Simple SEO Tips to Skyrocket Your Google Ranking is a great place to start.
Master Meta Tags
Did you know: the content that shows up on search engine results isn’t always directly taken from a website’s content? Called meta titles & meta descriptions, the text attributed to your site on search engines can be customized to give those unfamiliar with your business deeper insight into what your website has in store. That’s why meta tags should be added to each page of your site. Think of your meta tags as short introductions that tell people who’ve come across your site pages on search engines a little bit about you. If you’ve got a Wix website, here’s how you can change the meta tags for your site.
When you add meta tags, keep in mind that this text appears in Google’s search results and will be viewed by potential visitors as they decide whether or not to enter your website. We’ve got great tips on how to create the perfect meta tags for your site in this post on Writing a Title that Google Will Love.
Link Your Website to Your Social Profiles
If you’re serious about your online marketing, you probably already have a social media presence for your brand. Add your site’s link to your Facebook, Twitter, LinkedIn, Google accounts, and everywhere else you have an online presence, to beef up your link trail.
For extra SEO powers: share a status update about your site on those networks. Since search crawlers visit sites with links, you increase your chances of getting discovered on search engines faster.
Add Your Site to Local Directories
More often than not, the things that people search for online can be right in their own neighbourhood. In fact, the latest stats show that local searches lead 50% of mobile visitors to step into stores within one day.
If you’ve got a physical storefront, you’ve got a whole different set of rules to get your shop found on Google. Check out these local SEO tips for how to get your storefront found on Google.
FREE AND CHEAP ADVERTISING
FREE PLACES TO PROMOTE YOUR BUSINESS, PRODUCTS OR SERVICES
GOOGLE PLACES LISTING:- https://www.google.com.au/business
TRUE LOCAL:- https://www.truelocal.com.au/add-business
FACEBOOK PAGE:- https://www.facebook.com/pages/create
FACEBOOK MARKETPLACE:- https://www.facebook.com/marketplace
CHEAP WAYS TO PROMOTE YOUR BUSINESS, PRODUCTS, OR SERVICES
FACEBOOK ADVERTISING:- https://www.facebook.com/business/products/ads
INSTAGRAM ADVERTISING:- https://business.instagram.com/advertising
FACEBOOK AND INSTAGRAM ADVERTISING WITH MAILCHIMP:- https://blog.mailchimp.com/tag/social-media-marketing/
Australian Search Engines & Directories
- Gumtree – www.gumtree.com.au – [ submit url ]
Post free ads that are listed for 90 days. Gumtree has a Google Page Rank of 5!
- Aussieweb Local Search – www.aussieweb.com.au – [ submit url ]
An Australian listing directory, currently free to list your website
- Start Local – www.startlocal.com.au – [ submit url ]
A local business directory listing service – free to list your business
- True Local – www.truelocal.com.au – [submit url]
Another local directory listing service – list your business for free
- Live Pages Directory – www.livepages.com.au – [ submit url ]
Local business advertising guide – submit your business listing for free
- OzEngine – www.ozengine.com – [ submit url ]
Submit a basic listing free.
- EnterpriseSearch – www.enterprisesearch.com.au/ – [ submit url ]
New business directory for Australian businesses. May require a link back prior to accepting a listing from your website.
- AussieDirectory – www.aussiedirectory.com.au – [ submit url ]
Free listing with reciprocal linking.
- HotFrog – www.hotfrog.com.au [ submit url ]
A business directory with free listings. Good quality directory this one.
- Ausdict.org Australian Business Directory – www.ausdict.org – [ submit url ]
A business directory for Australian businesses, this site also requires a reciprocal link.
- Bigroo – www.bigroo.com – [submit url ]
Australian business directory with a basic free listing service.
- Find In Australia– www.FindInAustralia.com – [ submit url ]
An easy submission process offers a free listing.
What, exactly, is an email newsletter?
An email newsletter is an email that is sent out either regularly, or just once, and it can be in HTML or plain text format. An ever-increasing number of businesses have moved away from traditional printed subscriber magazines to digital media, such as email newsletters.
There are four kinds of email newsletters:
Single promotion (focusing on one topic)
Regular newsletter (featuring several topics)
Auto-responder (a series of emails that are sent after subscribing)
Other automatically triggered emails (e.g. by clicking on a specific link)
What are the advantages of email newsletters?
It’s much less expensive than traditional media (such as print products)
The medium is quicker to deliver and easier to create
You can actively measure your results – this enables you to tailor your content to the demand, and it allows you to keep an eye on your return on investment
Purchases and registration can be combined without switching from one medium to another
Thanks to their smartphones, your subscribers will receive email newsletters even while not at home
What are the disadvantages of email newsletters?
Emails are deleted relatively fast and are often read on the fly
The number of email newsletters in people’s inboxes is already quite high
Now, if you compare the advantages and disadvantages, you will probably realize that email marketing has its place, but more than that, you might also come to the conclusion that you should start your own email marketing program.
How does creating a newsletter actually work?
Most providers offer a graphical editing interface. Using the drag & drop editor, you can add the building blocks you want to your newsletter. It’s incredibly easy, and you don’t need any programming skills. There are plenty of free email marketing platforms. Mailchimp is one of the easiest to use and comes with the freest inclusions. https://mailchimp.com
Can I buy a mailing list?
You can, however, it is against the SPAM act in Australia to send unsolicited emails. Most Bulk email providers with block your account if you are using bought mailing lists. Your mailing list must come from opt-in users.
Keep your mailing lists clean
It is important you keep your mailing lists clean of emails that will bounce. This means the email address you are sending to is no longer active. If you have too many ‘dead’ email addresses in your list your bulk email provider may think you are spamming and block you. You can use utilities like Never Bounce to clean your email list. https://neverbounce.com/
Legally speaking, what do I have to be aware of when using email marketing in Australia?
The Spam Act 2003 prohibits the sending of unsolicited commercial electronic messages—known as spam—with an Australian link. A message has an Australian link if it originates or was commissioned in Australia, or originates overseas but was sent to an address accessed in Australia.
What is a commercial message?
The Spam Act 2003 defines a commercial electronic message as:
offers, advertises, or promotes the supply of goods, services, land or business, or investment opportunities
advertises or promotes a supplier of goods, services, land, or a provider of business or investment opportunities
helps a person dishonestly obtain property, commercial advantage, or another gain from another person.
The Act classifies an electronic message as ‘commercial’ by considering:
the content of the message
the way the message is presented
any links, phone numbers or contact information in the message that leads to content with a commercial purpose—as these may also lead the message to be defined as ‘commercial’ in nature.
What messages can be sent without consent?
Certain messages from the following types of organisations:
registered political parties
educational institutions (for messages sent to current and former students).
What about purchased email lists?
There are providers who try to sell you such lists and, in some cases, they even have opt-in proof which would hold up in a court of law. However, most email services we know of won’t let you use those kinds of lists. They don’t want to risk their good sender reputation, so they prohibit the use of purchased mailing lists. Statistics clearly show that the number of complaints is higher than the number of successful clicks for such lists.
So how do I get people to subscribe to my email newsletter?
In the long run, your best strategy is good content. If your content adds value to people’s lives in some way, they will talk about it and recommend it. So try and stay away from sales-driven advertising emails as much as possible. Instead, we recommend you use email marketing to invest in good customer relations.
FREE EMAIL MARKETING TOOLS
Emails 2,500 / month
FREE PLAN ZOHO:- https://www.zoho.com
Emails 3,500 / month
GOVERNMENT WEBSITE ON SPAM POLICIES:- https://www.acma.gov.au/Industry/Marketers/Anti-Spam/Ensuring-you-dont-spam